New tax rules: What Form 10-IEA means for those rejecting India’s default tax regime

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

Since FY 2024-25, the new tax regime is the default, meaning anyone wishing to continue under the old system must actively file Form 10-IEA before the 15th September 2025 deadline. Missing this filing means automatic enrollment into the new regime.

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

Earlier, Form 10-IE served a similar function. But now, with the default regime flipped, Form 10-IEA is the new gateway to the old structure. The form requires details like PAN, assessment year, business status, IFSC units (if any), and a formal declaration.

Who doesn’t need Form 10-IEA?
Salaried individuals not involved in business or profession can simply tick the “opt out of new regime” checkbox directly in their ITR forms—no need for Form 10-IEA.

How to File Form 10-IEA Online:

• Log in to the Income Tax e-filing portal.
• Go to e-File > Income Tax Forms > File Income Tax Forms.
• Select Form 10-IEA and the correct assessment year (e.g., AY 2025–26 for FY 2024–25).
• Confirm you have business income and select the appropriate due date.
• Complete three sections:
• Basic Information (mostly pre-filled)
• Additional Info (only if you have IFSC units)
• Declaration & Verification
• e-Verify using Aadhaar OTP, DSC, or EVC.
• Receive your Transaction ID and Acknowledgement Number—you’ll need this while filing your ITR.

The acknowledgement number from Form 10-IEA must be mentioned in your tax return. Without it, your old regime status may not be recognized.

Form 10-IEA is available only online and must be submitted before the ITR due date. Once verified, your tax regime selection becomes binding—especially for business income taxpayers.