Filing Form 10-IE for new tax regime & Form 67 for FTC before due date is directory. Consider if filed before assessment.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Filing of Form 10-IE to opt for the new tax regime u/s 115BAC is directory, not mandatory. If filed before assessment, the Assessing Officer must consider it. The requirement to file Form 67 for Foreign Tax Credit before the due date u/s 139(1) is also directory. Technical glitches preventing timely filing should not deprive the assessee of benefits, as held by the High Court. The Tribunal directed the CPC to consider Form 10-IE filed by the assessee and pass appropriate orders, allowing the appeal for statistical purposes.....