ITR Filing 2025: Do I need to fill out any form if I want to opt out or opt in to new tax regime in ITR 1?

While filing an income tax return (ITR), taxpayers are allowed to change their tax regime even if they have chosen a different regime while declaring their income during the same financial year. Both tax regimes have different benefits, and taxpayers can choose them according to their salary and investments. Now, the question is, do taxpayers need to fill out any form if they want to opt out of or opt into a new tax regime in ITR 1?

Do I need to fill out a form?

According to the Income Tax Department, you are not required to fill out any form for opting in or opting out of the new tax regime in ITR-1. You can simply tick the “opting out of new regime” in the ITR form without the need to file any form. Only those taxpayers who file ITR-3, ITR-4, or ITR-5 have to submit Form 10-IEA if they have business income. Individuals and HUFs filing their returns in Forms ITR-1 or 2 are not required to submit Form 10-IEA.

What is ITR 1?

ITR-1 is filed by a residential individual whose annual income is under Rs 50 lakh. This income should be from salary, one house property, family pension income, agricultural income (up to Rs 5000), long-term capital gain u/s 112A up to Rs 1.25 lakh, income of spouse, and other sources, which include:

• Interest from savings accounts
• Interest from deposits (bank/post office/cooperative society)
• Interest from the income tax refund
• Interest received on enhanced compensation
• Any other interest income
• Family pension

Documents required to file ITR

- Form 16
- Form 26AS
- Receipts
- PAN card
- Bank investment certificates