Change of Tax Regime while filing revised returns

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This discussion clarifies whether an individual can switch from the new tax regime to the old regime when filing a revised ITR 3 for AY 2024-25. It explains that if the original return was filed under the new regime without Form 10IEA, and has been verified, it's generally not possible to switch to the old regime via a revised return. Doing so might lead to the revised return being processed under the new regime anyway, and it could forfeit the opportunity to opt for the old regime in the future.

Neha

Neha (Querist)
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21 July 2024 Sir/Madam
Please clarify
For AY 2024-25 if ITR 3 with Professional Income Salary and Other sources Income is Filed under new regime can I revise ITR 3 and file it under OLD Regime.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 July 2024 No, you have already filed form 10IEA, and the same is accepted by system.

Neha

Neha (Querist)
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21 July 2024 Sir . I have not Filed 10IEA as the return was filed in new regime which did not have a requirement of filing 10IEA FORM.
Does this allow me to now file revised return under OLD regime along with Form 10IEA now

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 July 2024 Correct...
Have you verified the original return?

Neha

Neha (Querist)
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21 July 2024 Yes Sir verified it with OTP method

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 July 2024 In that case now there is no option left.
Even if you file revised return under old regime, by filing form 10IEA, your current year ITR will be processed under New regime only.
Secondly you will loose the chance to opt for old regime again, as that will be last chance to opt in.

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