Answer

1. F

   Facts

   A filed Form 10-IEA cannot be revised or withdrawn in the same year. The old regime choice then applies for that year. Next year you can use your one re-entry to come back to the new regime.

2. P

   Provisions and law

   • Sec 115BAC (now Sec 202)New regime is the default; business filers opt out with Form 10-IEA by the Sec 139(1) due date
   • Sec 115BAC (now Sec 202)New regime is the default; the opt-out for business income must be made by the Sec 263(1) due date and can be withdrawn only once
3. A

   Analysis

   FAQ 18 says revision is not allowed and a filed form cannot be withdrawn in the same year. So for AY 2026-27 you are in the old regime, and your tax is computed with old regime slabs and deductions. You can file a re-entry form in a later year, but that uses your single withdrawal. Think through the long term before filing any regime form.

4. C

   Conclusion

   1. 1Accept the old regime for the current year.
   2. 2Compute tax with old regime slabs and deductions.
   3. 3Decide whether to re-enter next year.
   4. 4If so, file the re-entry form by that year's due date.

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