Can You Revise Your ITR and Switch to Old Tax Regime for FY 2024-25? Here's What You Need to Know
Find out if you can still revise your ITR for FY 2024-25 and switch from the default new tax regime to the old one, even if you paid taxes under the new slabs. Learn the rules on deadlines, Form 10-IEA requirements, and regime restrictions based on your income type.
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If you’ve already filed your ITR under the new tax regime for FY 2024-25 and paid, say, ₹10,500 in taxes—but your calculations show that under the old regime your tax liability is nil—you can still correct this by filing a revised return.
The new tax regime is now the default, but taxpayers must explicitly opt for the old regime if they want it.
For those with business or professional income, filing Form 10-IEA before the due date (extended to 15 September 2025) is mandatory to switch to the old tax regime. Without it, a revised ITR won’t let you opt out of the new regime.
If you don’t have business income, you don’t need Form 10-IEA. You can simply tick the option to opt out of the new regime while filing a revised ITR anytime before 31 December 2025.
Important caveat: Those with business or professional income are allowed only one lifetime switch between regimes. Once you choose the old regime, you cannot revert back in future assessment years.
