TaxTMI 
TaxTMI 
Income-tax (4th Amendment) Rules, 2020
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....ereinafter referred to as the principal rules), after rule 21AD, the following rules shall be inserted, namely: - "21AE. Exercise of option under sub-section (5) of section 115BAA.-(1) The option to be exercised in accordance with the provisions of sub-section (5) of section 115BAA by a person, being a domestic company, for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2020, shall be in Form No. 10-IC. (2) The option in Form No. 10-IC shall be furnished electronically either under digital signature or electronic verification code. (3) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall - (i) specify the proce....
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....: - "FORM No. 10-IC [See sub-rule (1) of rule 21AE] Application for exercise of option under sub-section (5) of section 115BAA of the Income - tax Act, 1961 To, The Assessing Officer, …………… ……… Sir/Madam, I,.................................................. , on behalf of [name and registered address of the company exercising the option under sub-section (5) of section 115BAA] ……………….having Permanent Account Number (PAN)……………………………….. do hereby exercise the option referred to in sub-section (5) of section 115BAA of the Income-tax Act, 1961 (the Act) for....
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....ame………………………………… Designation…………………………. Address…………………….………… Note: This option form should be signed by the principal officer. FORM No. 10-ID [See sub-rule (1) of rule 21AF] Application for exercise of option under sub-section (7) of section 115BAB of the Income-tax Act, 1961 To, The Assessing Officer, …………… ……… Sir/Madam, I,.................................................. , on behalf of [name and registered address of the company ....