Are you returning to the old tax regime this year? You'll need Form 10-IEA, a new Central Board of Direct Taxes requirement for individuals or HUFs with business income who want to opt out of the new default regime.

Since fiscal year 2024-25, the new tax regime has been the default, which means that anyone who wishes to continue under the old system must actively file Form 10-IEA before the September 15th, 2025 deadline. Missing this filing results in automatic enrollment in the new regime.

Key Highlights

• Form 10‑IEA enables business/profession taxpayers to formally opt out of India’s default new tax regime.
• Missing Form 10‑IEA submission before the return deadline means forced taxation under the new regime without deductions. 

Tax experts explain that Form 10-IEA is required for taxpayers with business or professional income, particularly those filing under ITR-3 or ITR-4. This option can only be used once in a lifetime, unless the taxpayer closes their business.

Previously, Form 10-IE performed a similar function. However, with the default regime reversed, Form 10-IEA serves as the new gateway to the old structure. The form requires PAN, assessment year, business status, IFSC units (if applicable), and a formal declaration.

Who does not need Form 10-IEA?

Salaried individuals who are not involved in business or professions can simply check the "opt out of new regime" checkbox on their ITR forms, eliminating the need for Form 10-IEA.

Also Read: Lok Sabha Panel Recommends 30+ Amendments to the Income Tax Bill

How to Fill out Form 10-IEA Online:

• Log into the Income Tax e-filing portal
• Go to e-File > Income Tax Forms > Fill Out Income Tax Forms
• Select Form 10-IEA and the appropriate assessment year (e.g., AY 2025-26 for FY 2024-25)
• Confirm you have business income and choose an appropriate due date.
• Complete the three sections
• Basic Information (mostly pre-populated)
• Additional Information (Only for IFSC units)
• Declaration and Verification
• e-Verify with Aadhaar OTP, DSC, or EVC.
• Receive your Transaction ID and Acknowledgement Number—you'll need them to file your ITR

The acknowledgement number from Form 10-IEA must be included on your tax return. Without it, your previous regime status may not be recognized.

Form 10-IEA is only available online and must be submitted prior to the ITR due date. Once verified, your tax regime choice becomes binding, particularly for business income taxpayers.