The Income Tax Return (ITR) filing deadline for non-audit cases has been extended from July 31, 2025, to september 15, 2025. This extension by the CBDT comes in the wake of multiple updates in the ITR forms this year.
One of the most important changes allows taxpayers to switch between the old and new tax regimes while filing their returns. If you do not choose a regime, your return will automatically be processed under the new tax regime by default.
Here’s a detailed guide on how to switch tax regimes, the forms to use, and the key deadlines.
1. Which ITR Form Should You File?
Choosing the correct ITR form is crucial. Here’s a breakdown:
ITR-1 (Sahaj)
For individuals with annual income below Rs 50 lakh
Applicable to salaried individuals, those with single house property, or income from interest
Not applicable if you have capital gains or business income
ITR-2
For individuals with capital gains, multiple house properties, or foreign assets
Business or professional income cannot use this form
ITR-3
For taxpayers with business or professional income
Partners in a firm must also file ITR-3
ITR-4 (Sugam)
For individuals, HUFs, or firms (excluding LLPs) with income up to Rs 50 lakh under presumptive taxation schemes (Sections 44AD, 44ADA, 44AE)
2. How to Switch Tax Regimes
For ITR-1 and ITR-2
Applicable if you do not have business or professional income
The form asks if you want to opt out of the new tax regime under Section 115BAC(6)
Yes: Tax calculated under old regime
No: Return remains under new regime
For ITR-3 and ITR-4
Rules are stricter for business or professional income
You can switch to the new regime only once in your lifetime
Once moved to the new regime, you cannot revert to the old regime
Form 10-IEA is mandatory to opt for the new regime
3. How to File Form 10-IEA
Form 10-IEA is required for taxpayers with business or professional income choosing the new tax regime. Steps to file:
Visit the Income Tax e-filing portal and log in with your PAN and password
Go to the e-File section and select Income Tax Forms
Choose Form 10-IEA
Fill in accurate details of income, deductions, and exemptions
Submit and complete the process through e-Verification
Note: Form 10-IEA must be submitted within the due date under Section 139(1).
4. Key Deadlines
Extended ITR filing deadline: september 15, 2025
Form 10-IEA submission: Must be done before the ITR filing deadline
Timely filing ensures compliance and helps maximize tax benefits
5. Key Takeaways
Salaried individuals with simple income can easily toggle between old and new regimes
Business and professional taxpayers must be cautious; the regime choice is largely irreversible
Filing the correct ITR form and selecting the right regime ensures maximum tax benefits
Extended deadlines provide extra time to make informed decisions
With careful planning, taxpayers can maximize savings, stay compliant, and avoid last-minute confusion while filing ITR this year..jpg)
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