Form 10IEA: Shifting to Old Tax Regime Easily

As you know, the taxpayer has the option to file their ITR under the new tax regime or the old tax regime. For A.Y. 2024-25, the new tax regime is treated as the default tax regime. Thus, an assessee having business income/professional income (ITR-3/ ITR-4) who wants to declare his income under the old tax regime need to file Form 10IEA.

Form 10IEA is meant for those taxpayers who want to switch from the new default tax regime to the old tax regime w.e.f. Assessment Year (AY) 2024-25 onwards.  This form has to be filed before filing of ITR and the acknowledgement number generated on filling this form needs to be mentioned in the ITR filing process. Salaried individuals are not required to fill out this form and they can directly choose the old tax regime in their ITR forms.

The following table will help you understand the concept of Form 10IEA. If you find any difficulty regarding Form 10IEA, please ask using the comment form.

Form 10IEA Summary

Aspect AY 2023-24 (Old Tax Regime Default) AY 2024-25 (New Tax Regime Default)
Default Tax Regime Old Tax Regime New Tax Regime
Who Needs to Submit Form 10IE? Individuals or HUFs with business/professional income (ITR-3 or ITR-4) Not applicable
Purpose of Form 10IE To opt for the new tax regime Not applicable
Submission Process for Form 10IE 1. Visit the Income Tax e-Filing Portal 2. Log in to account 3. Navigate to ‘e-File’ > ‘Income Tax Forms’ 4. Select ‘Form 10IE’ 5. Fill in details 6. Submit form 7. Use acknowledgement number in ITR Not applicable
Who Does Not Need to Submit Form 10IE? Salaried individuals (ITR-1 or ITR-2) Not applicable
How Salaried Individuals Opt for New Tax Regime Directly select new tax regime in ITR form Not applicable
Who Needs to Submit Form 10IEA? Not applicable Individuals or HUFs with business/professional income (ITR-3 or ITR-4)
Purpose of Form 10IEA Not applicable To opt for the old tax regime
Submission Process for Form 10IEA Not applicable 1. Visit the Income Tax e-Filing Portal 2. Log in to account 3. Navigate to ‘e-File’ > ‘Income Tax Forms’ 4. Select ‘Form 10IEA’ 5. Fill in details 6. Submit form 7. Use acknowledgement number in ITR
Who Does Not Need to Submit Form 10IEA? Not applicable Salaried individuals (ITR-1 or ITR-2)
How Salaried Individuals Opt for Old Tax Regime Not applicable Directly select the old tax regime in the ITR form
Filing Deadline for Form 10IE Before filing ITR Not applicable
Filing Deadline for Form 10IEA Not applicable Before filing ITR

Purpose of Form 10IEA

  • To opt for the old tax regime when the new tax regime is the default. (For A.Y. 2024-25)
  • Applicable for individuals or HUFs with business or professional income.
  • Required to be submitted before filing the Income Tax Return (ITR).
  • Necessary for those filing ITR-3 or ITR-4.
  • Generates an acknowledgement number needed for the ITR filing process.
  • Not required for salaried individuals (filing ITR-1 or ITR-2) who can select the old tax regime directly in their ITR forms.

When to Submit Form 10IEA

For Individuals and HUFs without Audited Accounts:

  • The due date for filing Form 10IEA is before the filing of Income Tax Return (ITR). Generally, this deadline falls on or before July 31 of the relevant assessment year.
  • For instance, for AY 2024-25, the ITR due date is July 31, 2024. Therefore, Form 10IEA should be filed within this date.

For Individuals and HUFs with Audited Accounts:

  • In case the taxpayer is required to get his accounts audited as per Section 44AB of the Income Tax Act, then he has to file Form 10IEA before the due date for furnishing such audit report.
  • For example, in AY 2024-25, September 30, 2024, is generally the due date for filing audit reports. Hence, Form 10IEA should be submitted by this audit report filing deadline.

How to Fill Form 10IEA

Here is a guide on how to fill out the Form 10IEA:

  1. Go to the Income Tax e-Filing Portal: Access this portal via your browser by going to the efiling Portal.
  2. Sign in to your Account: Use your user ID (PAN), password, and Captcha code to sign into your account.
  3. Reach the ‘e-File’ Section: Once you are logged in, you need to click on the ‘e-File’ tab located on the main menu of the portal.
  4. Choose ‘Income Tax Forms’: Under ‘e-File’, select ‘Income Tax Forms’ from the drop-down menu.
  5. Select Form 10IEA: On the page of ‘Income Tax Forms’, locate and choose ‘Form 10IEA – Application for opting for taxation under old regime when the new regime is the default.’
  6. Choose Assessment Year (AY): Select the Assessment Year (AY) relevant for which the old tax regime wants to opt (e.g., AY 2024-25).
  7. Fill up Form 10IEA: All necessary details should be correctly filled in in Form 10IEA. This includes personal information, PAN, address, income details etc.
  8. Review & Verify Information: Ensure that all information filled in in form 10IEA is correct and complete. Make sure that you have selected the proper Assessment Year also.
  9. Submit Form 10IEA:  After filling in all the information & verifying it, click on the “Submit” button to submit form number 10IEA.
  10. Generate Acknowledgment Number: A 15-digit acknowledgment number gets generated once form no. 10IEA has been successfully submitted; note down or download this acknowledgement number as it is required during the Income Tax Return (ITR) filing process.
  11. Proceed with ITR Filing: Once obtained acknowledgement number from form No.10 IEA; proceed further with income tax return (ITR) filing. While doing ITR filing select the old tax regime option and provide an acknowledgement number when asked for.

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