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

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.... rules may be called the Income-tax (Twenty-Third Amendment) Rules, 2023. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), after rule 21AH, the following rule 21AHA shall be inserted, namely:- "21AHA. Exercise of option under sub-section (5) of section 115BAE. (1) The option to be exercised in accordance with the provisions of sub-section (5) of section 115BAE by a person, being a co-operative society resident in India, for any previous year relevant to the assessment year beginning on or after the 1^st day of April, 2024, shall be in Form No. 10-IFA. (2) The option in Form No. 10-IFA sha....

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....ct, 1961 for the previous year 20.....-..... and subsequent years, 2. The details of the co-operative society are given below: (i) Name of the co-operative society                                             : (ii) Whether a resident co-operative society                                  : Yes/No (iii) PAN                                                          &nbsp....

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....y other previous year. 4. I do hereby affirm that- (i) the business has not been formed by splitting up or reconstruction of a business already in existence; (ii) the business does not use any machinery or plant previously used except as provided in Explanation 1 and Explanation 2 of sub-section (2) of section 115BAE of the Act; (iii) the co-operative society is not engaged in any business other than the business of manufacture or production of any article or thing and research in relation to, or distribution of, such article or thing manufactured or produced by it as specified against point 2(vi) above. 5. I do hereby further affirm that the conditions stipulated in section 115BAE, in addition t....