HOW TO FILE ITR IN NEW TAX REGIME / WHO NEED TO FURNISH 10-IEA

🟦 1. Understand the New Tax Regime (Section 115BAC)

• Lower tax rates, but most exemptions/deductions are not allowed (e.g., 80C, HRA, LTA).

• You can claim:

  • Standard deduction (₹50,000) for salaried/pensioners

  • NPS employer contribution (Section 80CCD(2))

  • EPF interest

  • Agricultural income exemption

  • Rebate under 87A (if taxable income ≤ ₹7 lakh, no tax payable)

🟦 2. Collect Required Documents

• PAN, Aadhaar

• Form 16 from employer

• Form 26AS + AIS/TIS (download from income tax portal)

• Bank statements and interest certificates

• Capital gain statements (if applicable)

🟦 3. Log in to the e-Filing Portal

Visit: https://www.incometax.gov.in/

• Login using your PAN (User ID) and password

• Go to e-File > Income Tax Return > File Income Tax Return

🟦 4. Choose Filing Details

• Assessment Year: 2025–26

• Mode of Filing: Online

• Status: Individual

• Select the applicable ITR form:

  • ITR-1: For salaried individuals (income ≤ ₹50 lakh, 1 house property)

  • ITR-2/3/4: If you have other sources (business, capital gains, etc.)

🟦 5. Opt for New Tax Regime

👉 For Salaried Individuals (ITR-1/2):

• You don’t need to submit Form 10-IE. Simply select “Yes” when asked:

  Do you wish to opt for taxation under section 115BAC (New Tax Regime)?

👉 For Business/Profession (ITR-3/4):

• You must file Form 10-IEA before filing your ITR if opting in/out.

🟦 6. Verify Pre-filled Information

• Review pre-filled data (salary, TDS, interest, etc.)

• Add or correct if needed (check Form 16 and Form 26AS)

🟦 7. Compute Tax and Rebate

• Check if you’re eligible for Rebate under Section 87A:

  • If total taxable income ≤ ₹7,00,000 → tax payable is Nil

• Ensure no deductions like 80C, 80D, HRA, LTA are claimed (except allowed ones)

🟦 8. Submit and e-Verify

• Submit your return after checking everything

• E-verify using:

  • Aadhaar OTP

  • Net banking

  • Demat account

  • EVC through bank account

🧾 Optional: Download Acknowledgement (ITR-V)

After submission and e-verification, download your ITR-V (Acknowledgement) for records.

🧠 Tip:

Use a tax comparison calculator or I can help you compute tax under both regimes to see what saves more.