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 lakhApplicable to
salaried individuals, those with
single house property, or income from
interestNot applicable if you have
capital gains or business income
ITR-2
For individuals with
capital gains, multiple house properties, or foreign assetsBusiness or professional income cannot use this form
ITR-3
For taxpayers with
business or professional incomePartners 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 incomeThe form asks if you want to
opt out of the new tax regime under Section 115BAC(6)Yes: Tax calculated under
old regimeNo: Return remains under
new regimeFor ITR-3 and ITR-4
Rules are
stricter for business or professional incomeYou can
switch to the new regime only once in your lifetimeOnce 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 passwordGo to the
e-File section and select
Income Tax FormsChoose
Form 10-IEAFill in
accurate details of income, deductions, and exemptionsSubmit and complete the process through
e-VerificationNote: 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 deadlineTimely filing ensures compliance and helps maximize
tax benefits5. Key Takeaways
Salaried individuals with simple income can easily
toggle between old and new regimesBusiness and professional taxpayers must be cautious; the regime choice is largely
irreversibleFiling the correct ITR form and selecting the right regime ensures
maximum tax benefitsExtended deadlines provide
extra time to make informed decisionsWith careful planning, taxpayers can
maximize savings, stay compliant, and avoid last-minute confusion while filing ITR this year.