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Tax Information & Services
Form Wizard
Form 10-IEA
Form 10-IEA, (4 of 4)
Form 10-IEA
Return to IT Forms Wizard
About the Form
Form No. 10-IEA
is filed to exercise the option to withdraw from the concessional tax regime under
section 115BAC(1A)
of the Income Tax Act, 1961.
Relevant statute
Section 115BAC
of the Income-tax Act 1961
Rule 21AGA
of the Income-tax Rules, 1962
Legal Provision
Section 115BAC
provides an alternative regime with lower tax rates for Individuals, HUFs, AOPs, BOIs, and AJPs. The regime is the default tax regime for the taxpayers.
Rule 21AGA
provides that an assessee having income from business or profession can opt out of this lower tax regime and switch to the old tax regime by filing
Form No. 10-IEA
. Further, once the option for the old tax regime is exercised, it shall apply for the year in which the option is exercised and for the subsequent assessment year.
In case the assessee does not have income from business or profession, the option to opt out of the new tax regime and switch to the old tax regime shall be exercised in the ITR form itself, and there is no need to file
Form No. 10-IEA
.
An assessee not having income from business or profession can switch between the old and new tax regimes in any year and any number of times by selecting the desired option in the ITR.
However, an assessee having income from business or profession can shift from the old to the new regime only once. The option must be withdrawn by filing
Form No. 10-IEA
.
Applicable for:
Form No. 10-IEA
is applicable to the following persons:
Individual;
HUF;
Association of persons (AOP) (other than a co-operative society) or Body of Individuals (BOI), whether incorporated or not;
Artificial Juridical Person (AJP).
Effective from:
Form No. 10-IEA
was introduced by the IT (10
th
Amendment) Rules 2023, w.e.f, 21-06-2023
Pre-requisite while filing the form?
Not Applicable
Due date
Form No. 10-IEA
is to be filed on or before the due date for filing the return of income under
Section 139(1).
How to file it
Form no. 10-IEA
is to be filed online at
https://www.incometax.gov.in/iec/foportal/
Income-tax Act, 1961
Income-tax Rules
Admin Date
5/15/26, 12:00 AM
Last Updated
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