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Old Regime & New Regime

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SHIRISH S S

Proprietor

1101 Points Posted on 02 June 2025

I filed my return for AY 24-25 (FY 23-24) in old regime. I want to switch to new regime. I filled form 10IEA online but not submitted yet.

The last line of form says

"I also declare re-entering sub-section (1A) of section 115BAC of the Act shall render the person referred to
at serial no. 1 having PAN at serial no. 2 ineligible for opting out of sub-section (1A) of section 115BAC"

Is this statement correct?

Replies (3)

Quick Summary

This discussion clarifies the process of switching from the old to the new tax regime for AY 24-25. It addresses a user's concern about a statement in Form 10IEA, confirming that individuals with income under the PGBP head cannot opt back into the old regime once they've chosen the new one. The user intends to proceed with submitting Form 10IEA.