If you're filing your Income Tax Return (ITR) for the first time for AY 25-26 using ITR 3, you can still opt for the old tax regime. This is beneficial if you have significant deductions, such as those under Section 80C, that you wish to claim to lower your tax liability. To do this, you must submit Form 10-IEA before the due date.
05 June 2025
Dear Sir, I'm filing ITR for first time for AY 25-26 and I've to file ITR 3. Since new regime is the default regime, can I still opt for old regime as I've substantial 80C deduction which I want to claim to reduce my taxes ?