While filing ITR for FY 2023-24 (AY 2024-25), I want to opt for the old tax regime instead of the default new tax regime, should I file Form 10-IEA before filing his income tax return (ITR)?

While filing ITR for FY 2023-24 (AY 2024-25), I want to opt for the old tax regime instead of the default new tax regime, should I file Form 10-IEA before filing his income tax return (ITR)? https://www.taxtmi.com/manuals?id=4556 Form 10-IEA must be submitted by taxpayers with business or professional income who elect the old tax regime: individuals, HUFs, AOPs (excluding cooperative societies), BOIs and Artificial Juridical Persons filing returns that report business/professional income. Taxpayers filing ITR-1 or ITR-2 without business/professional income may opt out of the new regime by selecting the option in the ITR and need not file Form 10-IEA. The Form 10-IEA obligation principally applies to filers of ITR-3, ITR-4 or ITR-5. en-us Fri, 05 Jul 2024 13:03:00 +0530 Fri, 05 Jul 2024 13:03:00 +0530 TaxTMI RSS Generator While filing ITR for FY 2023-24 (AY 2024-25), I want to opt for the old tax regime instead of the default new tax regime, should I file Form 10-IEA before filing his income tax return (ITR)? https://www.taxtmi.com/manuals?id=4556 Form 10-IEA must be submitted by taxpayers with business or professional income who elect the old tax regime: individuals, HUFs, AOPs (excluding cooperative societies), BOIs and Artificial Juridical Persons filing returns that report business/professional income. Taxpayers filing ITR-1 or ITR-2 without business/professional income may opt out of the new regime by selecting the option in the ITR and need not file Form 10-IEA. The Form 10-IEA obligation principally applies to filers of ITR-3, ITR-4 or ITR-5. Manuals Income Tax Fri, 05 Jul 2024 13:03:00 +0530 https://www.taxtmi.com/manuals?id=4556