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Who shall file Form 10-IEA?
Rule 21AGA provides that an assessee having income from business or profession can opt out of the new tax regime of section 115BAC(1A) and switch to the old tax regime for a relevant year. Form 10-IEA is filed to exercise the option to withdraw from the concessional tax regime under section 115BAC(1A).
What is the due date to file Form 10-IEA?
Assessee has to exercise the option in Form 10-IEA on or before the due date for filing the return of income under Section 139(1).
How to file Form 10-IEA?
Form 10-IEA shall be filed electronically through the e-filing portal under digital signature where a person is required to furnish return of income electronically under digital signature. In any other case, it shall be furnished electronically through Electronic Verification Code (EVC).