Rule 21AHA inserted under exercise of option under sub-section (5) of section 115BAE - Income-tax (Twenty-Third Amendment) Rules, 2023. - 83/2023 - Income Tax

Option under section 115BAE requires co operative societies to file Form 10 IFA electronically with verification and non withdrawal affirmation.

A new rule requires a resident co operative society exercising the option under sub section (5) of section 115BAE for years relevant to assessment years from 1 April 2024 to furnish Form No. 10 IFA electronically (digital signature or electronic verification code). The form, signed by the principal officer, mandates corporate particulars, affirmations regarding non formation by split or reconstruction, permitted use of plant and machinery, exclusive engagement in specified manufacturing activities, and irrevocability of the option. Systems authorities shall prescribe filing procedure, data standards, verification code generation, and security and archival policies.