Form 10IE: Opt for the New Tax Regime

author portrait

Laxmi Navlani

Form 10-IE
Income Tax
Income tax forms
Last updated on November 29th, 2023

The Finance Minister, Nirmala Sitharaman presented the Budget 2020 on the 1st of February 2020. The introduction of the new tax regime took place in the previous budget. This regime is available only to individuals and HUF where they need to opt by using Form 10IE.

Under the new tax regime, taxpayers can pay less tax on their total income with reduced tax rates. Also, taxpayers cannot claim the deductions and tax benefits otherwise available in the old tax regime.

The taxpayer has to make his/her choice before filing the Income Tax Return (ITR) of the relevant Financial Year (FY). Taxpayers also need to communicate the selection to the Income Tax Department before filing the ITR.

How to inform the IT Department which tax regime is selected?

The Central Board of Direct Taxes (CBDT) has released Form 10IE. Any person who wishes to pay income tax as per the new tax regime has to communicate his/her choice to the Income Tax Department through form 10IE.

In case a taxpayer wants to opt out of the new tax regime, the same form 10IE needs to be submitted before filing the income tax returns for the relevant Financial Year (FY).

Form 10IE, previously utilised for opting into the new tax regime, has been phased out. It was in use until the financial year 2022-23.
Form 10IE, previously utilised for opting into the new tax regime, has been phased out. It was in use until the financial year 2022-23.

Switching between Old Tax Regime & New Tax Regime

When to submit Form 10IE?

As per the income tax laws, an individual having business income shall submit this form before the due date of filing ITR i.e. July 31 (unless extended by the government). For salaried individuals, they can submit the form before/at the time of ITR filing.

How to File Form 10IE?

  1. Log in to the income tax portal

    Login to the portal using valid credentials and navigate to e-File > Income Tax Forms > File Income Tax - File Income Tax Forms

  2. Form 10IE option

    Taxpayers will be able to find the form 10IE option under the Persons with Business / Profession Income tab. Form 10IE option

  3. File Form 10IE Process

    Click on the option to File Now. On the next screen, select the relevant assessment year and click on continue.Enter Assessment Year for Form 10IE

  4. Preview Page

    Provide the details for the 4 sections mentioned on the application page.Preview Page for Form 10IE

  5. Assessing Officer

    The information on this page will be prefilled. Verify the details in case of any error and click on confirm.Assessing Officer Details for Form 10IE

  6. Basic Information

    Personal details such as name, PAN, date of birth and address are prefilled from the profile page. Verify such details. Select the appropriate option under the nature of business or profession tab (if any) and save these changes.Basic Information to File Form 10IE

  7. Additional Information

    Select yes if the taxpayer has any unit in the IFSC. If yes, you will view a drop-down where you will have to enter additional details such as: name of unit, address of unit and nature of business or activities. Once done, save these details.Additional Information to File Form 10IE

  8. Verification Stage

    The final step of filing the Form 10IE is the verification stage. Review the information presented on this screen and click on the option to save this information. Verification of Form 10IE details

  9. Preview

    Finally, preview all of these details and proceed to e-verify these details to complete the filing o this form. You can also download this preview page for your reference.

  10. e-Verify Form 10IE

    Select from any of the options provided to e verify the form 10IE to complete the process. On completion, you will receive the acknowledgement number which you shall require while filing your ITR.Verify Form 10IE Filing

Contents of Form 10IE

Given below are the basic details that we need to enter in form 10IE:

E-filing the Form 10IE

The notification has given the clarification that the taxpayer needs to file the form electronically. Taxpayers can file the form on the IT Portal to opt for the new tax regime for FY 2020-21 onwards. The form will be filed using either a digital signature certificate or an electronic verification code.

Download Form 10 IE
You can download the form 10 IE from here
Download Form 10 IE
You can download the form 10 IE from here


Can I choose a new tax regime at the time of filing ITR, if I have opted for the old tax regime with my employer?

If an individual who has opted for the old tax regime with his/her employer for TDS on salary, plans to opt new tax regime at the time of filing ITR, then he/she can do that by filling the new form i.e. 10IE.”

What if I forget to fill out the new form?

If an individual forgets to fill the new form i.e. Form 10IE, at the time of filing ITR, then he/she may be disallowed the tax rates available under the new tax regime. The tax department will calculate his/her income tax liability based on the existing/old tax regime.

Who needs to sign the form 10IE?

This form shall be signed by the individual/Karta of the HUF/Authorized Representative only.

Got Questions? Ask Away!

  1. Hey @TeamQuicko

    Thanks for the blog! Just one quick question - Why do we have to report a quarterly breakdown of Dividend Income under IFOS?

    Thank you!

  2. I had received dividend recently but I had noticed that TDS had been deducted. any idea as to why has it happened and is there a way I can claim this TDS?

  3. Hey @HarshitShah

    After the introduction of Budget 2020, dividend income is now taxable in the hands of the shareholder; and is also subject to TDS at 10% in excess of INR 5000 u/s 194 & 194K. Foreign Dividend is taxable at slab rates. TDS is not applicable to such dividends. The taxpayer should report such income under the head IFOS in the ITR filed on the Income Tax Website.

    Hope this helps!

  4. Hi @Maulik_Padh,

    You need to pay Income tax on the net taxable income, i.e. after subtracting deductions, expenses, etc.
    If the net taxable income is negative i.e. if there is loss, you can carry it forward when filing the ITR

    Here are some of the articles which might help

  5. Hi @ameyj

    The amount of TDS deducted shall reflect in your Form 26AS only and it will also reflect the name of the deductor.
    Using the name of the deductor you can find out on which share you have received the dividend and you can also cross-check the same in your bank statement.

    Yes, you are right, TDS is to be deducted when the dividend paid exceeds 5000 INR in a financial year. However, the 5,000 INR limit pertains to all the dividends an individual gets in a year, or the total dividend per shareholder that a company pays out in a year, is left to interpretation, and hence registrars and share transfer agents (RTA) are not taking any chances and are deducting TDS even on small amounts.

    Hope this helps :slightly_smiling_face:

  6. Hi @ameyj

    You can submit a grievance on Income Tax Portal mentioning the issue and also attach the 26AS.
    The other option is to leave it as it is and clarify it when the tax department sends the notice.

  7. Hi @TeamQuicko

    Consider that I have 10 shares each of 10 different Indian companies. Each of the 10 companies are declaring a dividend of INR 100 before the FY ends. Now I will be recieving 1000 as dividend from each company, thereby a total of 10,000.

    The 5,000 dividend limit, is it applicable to each company / total dividend recieved by me in a year. If it is applicable to each company, then I would not attract TDS of 10% for dividend.

    Also pl clarify, how would the company B know that I have got shares of Company A,C,D,E so on…

Continue the conversation on TaxQ&A

18 more replies


Avatar for TeamQuicko Avatar for Nireka Avatar for Yesha Avatar for TanyaChopra Avatar for Sakshi_Shah1 Avatar for HarshitShah Avatar for Divya_Singhvi Avatar for HarishMehta Avatar for Robin_Dhankhar Avatar for Kaushal_Soni Avatar for Maulik_Padh Avatar for ameyj Avatar for Abdul_Kaleem_shah Avatar for ChinmayB Avatar for Yash_Kaviya Avatar for PALLAV_MITTAL Avatar for Amulya_Garg Avatar for HIREiN