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Things to keep in mind while filing ITR for AY 2024-25 with respect to New/Old Tax Regime.

-Default Tax Regime is New Tax Regime u/s 115BAC, it means if you want to opt for Old Tax Regime then you have to select it specifically in ITR Form.



-If you are filing ITR 1 or ITR 2 then you can select any regime Old or New while filing ITR.



-If you are filing ITR 3 or ITR 4 then you can only select old tax regime by Filing Form 10IEA for AY 2024-25 and later on if you want to opt out of old tax regime from AY 2025-26 onwards then again filing of Form 10IEA is mandatory but after that you can't opt for old tax regime again.



-For opt in or opt out of old tax regime you have to exercise the option on or before due date u/s 139(1).

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