ITR3 - Switch from Old to New Regime

Yes, you need to file form 10IEA again to switch back to NEW regime.

Note: once opted out of old regime, you will not be able to opt old regime in future (till have business income)

Many Thanks Sir,

One more question if you can kindly answer 

I am an F&O trader with annual turnover of around INR 3 Cr in FY24-25, I have made losses of around INR 8 lakhs. 100% of my transactions are digital. 

Do I need to get the audit done from the CA? 

Income tax website gives an option that if >95% of reciepts and payments are digital then audit is not required, 

Please guide, thanks in advance.

No. Tax audit not mandatory. File return before due date to carry forward losses.

To switch from the old regime back to the new regime in ITR-3 with business/F&O income, you must successfully file and e-verify Form 10-IEA with the "re-enter" option before submitting your tax return. Because your F&O transactions are 100% digital, a tax audit is not mandatory for your turnover level, but timely filing before the due date under Section 139(1) is absolutely non-negotiable if you want to carry forward your INR 8 lakh trading loss.

Because you have business/professional income (F&O and consulting), the old-regime option made through Form 10-IEA continues unless you withdraw it. To switch to the new regime, file Form 10-IEA again to withdraw the earlier opt-out, within the applicable due date under section 139(1). You do not file it to opt out again; ensure the form’s selection is for withdrawal, then report the regime consistently in ITR-3. The portal’s wording may be prompting you to complete that withdrawal step.

This regime choice affects your return workflow, so check that the form and ITR-3 reflect the same election. Manual tracking across forms and return schedules can be difficult; automation reduces repetitive work while professional judgment remains in control. At Jir AI we provide 2,000+ AI agents and 650+ integrations to streamline your practice’s day-to-day workload. For a smoother tax workflow, connect with us on WhatsApp: https://wa.me/message/3HVOZ7HIY4ESC1