Option under section 115BAC: form procedure to opt out or re enter; re entry bars subsequent opt out. Form No. 10IEA prescribes the application to exercise or withdraw the option under clause (i) of sub section (6) of section 115BAC, requiring name, PAN, status code, assessment year, choice to opt out or re enter, prior option details if re entering, and disclosure of any IFSC Units (name, address, activities). The declarant must confirm business income under Profits and gains from business or profession and sign as a person competent under section 140. Re entry renders the taxpayer ineligible to subsequently opt out of sub section (1A).