Answer

1. F

   Facts

   For FY 2025-26, the new regime is default. Without business income, you choose the old regime in the ITR filed by the due date. With business income, you file Form 10-IEA by the due date.

2. P

   Provisions and law

   • Sec 115BAC, Income-tax Act 1961 (now Sec 202, Income-tax Act 2025)New tax regime as default and options to opt out.
   • Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)Return to be filed by the due date when income exceeds the exemption limit or a set condition applies.
3. A

   Analysis

   A belated return generally cannot opt for the old regime. Salaried persons can switch each year. Business filers can opt out and back only in limited ways. Compute both before deciding.

4. C

   Conclusion

   1. 1Compute tax under both regimes.
   2. 2If old is better, choose it in the ITR or Form 10-IEA.
   3. 3File by the due date.
   4. 4Keep proof of deductions.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.