Find
For AY 2026-27, a person with business or professional income must file Form 10-IEA on or before the Sec 139(1) due date to opt out of the new regime. Without it, the return is under the new regime.
ITR
Choosing the old regime when you have business income
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Provisions
Sec 115BAC, Income-tax Act 1961 (now Sec 202, Income-tax Act 2025); Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)
Analysis
Once opted out, you can come back to the new regime once, and after that the old regime is not available again while you have business income. Example: a doctor with ₹30 lakh income and large 80C, 80D and home loan claims may save under the old regime; file Form 10-IEA before the due date. Compare both regimes before deciding.
Close
- Compute tax under both regimes
- If old is better, file Form 10-IEA before the due date
- Quote the Form 10-IEA acknowledgement in ITR-3
- Keep a record of when you switched
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