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of <h1>Co-operative Society Applies for Tax Option Under Section 115BAE of Income-tax Act, 1961; Irrevocable Once Chosen.</h1> This form is an application for a co-operative society to exercise the option under sub-section (5) of section 115BAE of the Income-tax Act, 1961. It is addressed to the Assessing Officer and includes details such as the society's name, residency status, PAN, registered address, date of registration, nature of activities, and the commencement date of manufacturing or production. The society affirms that it meets specific conditions, such as not being formed by splitting an existing business and not using previously used machinery, except as allowed. Once exercised, this option cannot be withdrawn for any previous year.
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