What Form 10-IEA is and who must file it

Form 10-IEA is the online form to opt out of the default new regime, or to come back to it, for people with business or professional income. Individuals, HUFs, AOPs, BOIs and artificial juridical persons with such income must file it to use the old regime. People without business income choose the regime directly in the return.

From AY 2024-25, the new regime under Sec 115BAC (now Sec 202) is the default. The e-Filing FAQ says Form 10-IEA is required if you want to opt out of, or re-enter, the new regime and have income under profits and gains of business or profession. A salaried person filing ITR-1 or ITR-2 does not need it and simply picks the regime in the return. So a doctor, consultant or shop owner who wants old regime deductions must file Form 10-IEA on time.