A Company incorporated in India filed Form 10IC for lower taxation in 2020.In 2023 it came to know that it is not eligible to file Form 10IC as it is not a domestic company as its shareholders are foreign companies and no arrangements were made for payment of dividend in India.
How we can apply for cancellation of filed Form 10IC. whether appeal is the remedy?
Please clarify
Thanks for your inputs
Indian Company Seeks to Cancel Form 10IC Filed in Error Due to Foreign Shareholders, Explores Appeal Options A company in India mistakenly filed Form 10IC in 2020 to avail lower taxation rates, later realizing in 2023 that it was ineligible as it is not a domestic company due to foreign shareholders and lack of dividend payment arrangements in India. The company seeks guidance on how to cancel the filed Form 10IC and whether an appeal is the appropriate remedy. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
