Article

Tax alert: Form 10-IC for availing concessional tax rate to be filed only in initial year of availing option  

3 November 2023

The Delhi Bench of the Income-tax Appellate Tribunal has held that the taxpayer, a domestic company, seeking benefit of concessional rate of tax under section 115BAA of the Income-tax Act, 1961 (ITA), has to exercise its option in Form 10-IC only once in the initial assessment year (AY), wherein he intends to avail the benefit.

Did you find this useful?