ITR Filing 2025: This form is very important for taxpayers choosing the old tax regime, it is mandatory to fill it before this date

ITR Filing 2025: The government had declared the new tax regime as the default tax regime in Budget 2023. In such a situation, taxpayers who want to move from the new tax regime to the old tax regime have to fill Form 10-IEA.

ITR Filing 2025: Preparations for filing income tax returns have intensified. The Income Tax Department has already released ITR-1, ITR-3, ITR-4 and ITR-5 forms for the financial year 2024-25 (Assessment Year – 2025-26). But, if you want to choose the old tax system instead of the new tax system, then you may have to fill Form 10-IEA. However, it is mandatory only for certain taxpayers. Let us know how taxpayers fill it and why it is mandatory.

Form 0-IEA mandatory for these taxpayers

Actually, Form 10-IEA is a type of declaration form. If you belong to Hindu Undivided Family (HUF), Association of Persons (AOP), Body of Individuals (BOI) or Artificial Juridical Persons category and your income is from business or profession, then it is mandatory for you to submit this form before the last date of filing income tax return.

These taxpayers do not need to fill it

At the same time, if you are a salaried or pensioner and your income is not from business or profession, then you do not need to fill this form. Such taxpayers can deposit income tax by simply selecting the option of Old Tax Regime while filing Income Tax Return (ITR). Let us tell you that if you do not fill this form before the ITR deadline, then you will not get the benefit of exemptions and deductions available under the old tax system.

This detail has to be given while filling the form

While filling Form 10-IEA, some important information has to be given. Like- your full name, assessment year and you also have to tell that you want to choose the old tax system by leaving the new tax system. Apart from this, it also has to be told whether you have any unit in International Financial Service Center (IFSC) or not. If yes, then you have to fill its details. Actually, the government had declared the new tax regime as the default tax regime in Budget 2023. In such a situation, those taxpayers who want to move from the new tax system to the old tax system have to fill this form.

The post ITR Filing 2025: This form is very important for taxpayers choosing the old tax regime, it is mandatory to fill it before this date first appeared on informalnewz.

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