How To File Form 10IE Online on New Income Tax Portal

What is the New Tax Regime?

The New Tax regime was introduced with significant tax-saving opportunities that comes with massive reductions. The Government has incorporated some major incentives in 2023 Budget that will offer the Indian citizens with multiple tax benefits. One of the major significances of the New Tax regime is the low tax rate which is not allowed under the Old Tax regime.

When to submit Form 10IE?

Here are the details regarding submission of Form 10IE:

1. Form 10IE must be filed before filing income tax returns
2. A 15-digit acknowledgement will be generated, after submission of Form 10IE

The Income Tax Return (ITR) filling cannot be processed by the taxpayer without providing the 15-digit number.

How to File Form 10IE?

The following are the steps to file Form 10IE:

1. Visit the e-filing portal and login using your credentials
2. Click on ‘File Income Tax Forms’ under the ‘Income tax forms’ that comes under ‘e-File’
3. Select Form 10IE from the list
4. To proceed further, click on ‘File Now’
5. Select the Assessment year for which you are filling the return

1. The Form 10IE will be displayed on the screen, after clicking 'Let's Get Started'
2. The form has four sections, which are:
   1. Assessing Officer
   2. Basic Information
   3. Additional Information
   4. Verification

1. Click on ‘Confirm’ in the first section where the information is prefilled
2. Under ‘Basic Information’ section, some details are auto filled, such as:
   1. Name
   2. Address
   3. PAN number

1. Select ‘Yes’ for the income type, whether business or profession
2. Select the ‘Nature of business’
3. Provide IFSC (International Financial System Code) details, if any, under ‘Additional Information’ section
4. Select ‘Yes’ or ‘No’, depending on whether you had opted for new tax regime in any of the previous year and now you wish to withdraw

1. Click on ‘Save’
2. Tick the check boxes and terms and conditions option, under the ‘Verification’ section
3. Check all the details under this section and save the information
4. Click on ‘Preview’ to review the Form 10IE details
5. Click on ‘Proceed to e-verify' through the following methods:
   1. Digital Signature Certificate (DSC)
   2. Electronic Verification Code (EVC)
   3. Aadhaar OTP

1. Transaction ID and an Acknowledgement Receipt Number will be displayed after successful completion of e-verification
2. Confirmation message will be sent to your registered email ID

1. The form can also be downloaded from 'View Filed Forms' option that comes under 'Income Tax Forms' section in the ‘e-File’ option

How to Communicate to the IT Department About the New Tax Regime?

The following are the details required to fill in Form 10IE to communicate to the Income Tax (IT) Department about the New Tax Regime:

1. Name of either the individual or Hindu Undivided Family (HUF)
2. PAN number

1. Address of the taxpayer
2. If any income of an individual or HUF come under ‘Profit or gains from business and profession’, then provide confirmation
3. Nature of profession or business, which is mandatory in case of business income
4. Date of incorporation or date of birth
5. As mentioned under the sub-section (1A) of section 80LA, if the taxpayer has any unit in IFSC (International Financial Service Centre), provide the confirmation in ‘Yes’ or ‘No’

1. Provide the details of Form 10IE that was filled previously
2. Provide the declaration

How to Switch Between the New and Old Tax Regime?

The following are the two scenarios under which taxpayer can switch between the New and Old Tax regime:

Scenario 1: Individuals having ‘Income from Business or Profession’

1. Individuals falling under this category are not eligible to select between the two regime each year
2. They can switch back to old regime once in a lifetime in case they have choose the new tax regime
3. Individuals will not be able to switch back to new tax regime anytime in future, once switched back to old tax regime
4. These individuals will have to file Form 10IE twice, once while choosing new tax regime and another during switching back to old tax regime

Scenario 2: Individuals having income ‘other than business or profession income’

1. These individuals can switch every year between old and new tax regime
2. Filing Form 10IE not required for salaried individuals
3. The New Regime can be opted through ITR forms by these individuals

How to Download Form 10IE Copy?

Here are the steps to download the copy of Form 10IE:

1. Visit the official website of Income Tax Department of India- www.incometaxindia.gov.i
2. Click on ‘Forms’ option
3. Select ‘Form 10IE’ and click on the link
4. Download the form