CBDT Notifies Rule 21AHA And Form 10-IFA For New Manufacturing Co-Operative Societies To Opt For 15% Concessional Tax Rate
Mariya Paliwala
1 Oct 2023 9:30 AM IST
The Central Board of Direct Taxes (CBDT) has notified the Income-tax (Twenty-Third Amendment) Rules, 2023.The new rule 21AHA is in respect of the Exercise of option under section 115BAE(5). The option to be exercised in accordance with the provisions of sub-section (5) of section 115BAE by a person, being a cooperative society resident in India, for any previous year relevant to the...
The Central Board of Direct Taxes (CBDT) has notified the Income-tax (Twenty-Third Amendment) Rules, 2023.
The new rule 21AHA is in respect of the Exercise of option under section 115BAE(5). The option to be exercised in accordance with the provisions of sub-section (5) of section 115BAE by a person, being a cooperative society resident in India, for any previous year relevant to the assessment year beginning on or after the 1st day of April 2024, shall be in Form No. 10-IFA.
The option in Form No. 10-IFA shall be furnished electronically either under a digital signature or electronic verification code.
The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), shall specify the procedure for filing of Form No. 10-IFA; specify the data structure, standards and manner of generation of electronic verification code; and be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the Form so furnished.
Notification No. 83/2023
Date: 29/09/2023
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