Form 10-IEA Overrides Tax Return Checkbox; Eligible Deductions Must Be Allowed. Many retirees assume that filing Income Tax Returns (ITR) becomes unnecessary after retirement, especially once regular salary income stops. However, pension income remains taxable in most cases. AI Quick Read A Bengaluru taxpayer faced an additional tax demand of about ₹1.23 lakh after his tax consultant mistakenly filed Form 10-IEA, indicating that he had opted out of the new tax regime..