Form No. 10-IEA is used by individuals and entities to exercise or withdraw the option under Section 115BAC of the Income-tax Act, 1961 for the new tax regime. This form captures essential details such as PAN, assessment year, tax regime selection (opt-in or opt-out), and IFSC unit information where applicable. Filing Form 10-IEA ensures proper compliance and enables taxpayers to manage their choice between the old and new tax regimes effectively.
Source: https://incometaxindia.gov.in
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