Tax on Domestic Companies under section 115BAA

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....IT Act :- * Section 10AA: Deductions from the Special Economic Zones (SEZ) unit. * Section 32(1)(iia): Additional Depreciation * Section 32AD: Expenditure that is allocated on machinery and new plants manufactured in the notified backward areas in the states of Bihar, West Bengal, Telangana and Andhra Pradesh. * Section 33AB: Deduction given on rubber manufacturing, tea and coffee. * Sec....

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....(If the above conditions are not satisfied in any PY, the exercise of the option will be invalid for that PY and subsequent PYs and normal provisions of the Act shall apply. * Option has to be exercise upto the due date of ROI u/s 139 * Once the option is exercised it can't be withdrawn for the same or any other PY. * As per the rules of CBDT, this option will be present in Form 10-IC. One n....

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.... Form No. 10-ID as per Rule 21AE or Rule 21AF respectively of the Income-tax Rules, 1962 for Assessment Years 2020-21, 2021-22 and 2022-23. [ Circular no. 17/2024 dated 18.11.2024 ] * No application for condonation of delay in filing of Form No. 10-IC or Form No. 10-ID shall be entertained beyond three years from the end of the assessment year for which such application is made. The time limit f....