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<h1>Income-tax Rules Amended: New Procedures for Domestic Companies u/ss 115BAA, 115BAB; Forms 10-IC, 10-ID Required.</h1> The Income-tax (4th Amendment) Rules, 2020, enacted by the Central Board of Direct Taxes, introduce amendments to the Income-tax Rules, 1962, effective from April 1, 2020. The amendments include the addition of rules 21AE and 21AF, which outline procedures for domestic companies to exercise options under sections 115BAA and 115BAB of the Income-tax Act, 1961. Companies must submit Form No. 10-IC and Form No. 10-ID electronically, verified by digital signature or electronic verification code. The Principal Director General of Income-tax (Systems) will manage the filing procedures and ensure data security and retrieval.