When filing income tax returns for FY 2024-25 (AY 2025-26), salaried individuals, professionals, and pensioners must choose between the New and Old Tax Regimes. While the New Regime is now the default ...

Form 10-IEA is a declaration form for those who do not want to follow the new tax regime. If you earn income from a business or profession, and you wish to continue with the old tax regime, this form ...

Further, “Form 10-IEA is required to be filed before the due ... However, persons having no income from business or profession are required to opt for new/old regime only while filing the ...

In order to switch between tax regimes, a taxpayer must submit their ITRs along with Form 10-IEA which is must be filled to choose your preferred tax regime for that financial year. Taxpayers ...

In contrast, eligible taxpayers with income from business and profession who wish to opt out of the new tax regime for AY 2024-25 must file Form 10IEA along with their ITR-3 or ITR-4 by the ...