I am filing ITR-5. I want to opt out of new tax regime? Whether Form 10-IFA or Form 10-IEA would be applicable to me?

Ans. Form 10-IEA is applicable to AOP’s (other than Co-operative society) or BOI or AJP, who are filing return of Income in ITR-5 for AY 2024-25.

Form 10-IFA is applicable to new manufacturing co-operative Societies resident in India filing ITR 5, if they wish to avail New Tax Regime under Section 115BAE for AY 2024-25.