Regarding 10IC fiiling

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FOUNTAIN HEAD PVT LTD (Querist)
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16 December 2022 We don't file 10IC for A.Y 2021-22, but my consultant opted 115BAAA sectiion at the time filing.
for this reason huge amount demand by I.T department.
What should we do against this.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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16 December 2022 To opt for new tax regime, the filing of form 10IC is mandatory, otherwise it is not eligible.
Now it is not possible to revise the return for AY 2021-22.
Check if rectification is possible to claim any deduction, which were available under old regime.
As such no other option, but to pay the demand.

FOUNTAIN HEAD PVT LTD

FOUNTAIN HEAD PVT LTD (Querist)
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16 December 2022 But we have have 10 IC filed on 28th oct 2020 for F.Y 2019-20 & susequent year. Iss it manditory for file in every year?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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16 December 2022 Whether the filing of form 10IC was eligible for AY 2020-21?
No. It mean it it was not accepted...

FOUNTAIN HEAD PVT LTD

FOUNTAIN HEAD PVT LTD (Querist)
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16 December 2022 WE HAVE SUBMITTED THE FORM 10IC AND WE HAVE ACKNOWLEDGEMENT. THEN HOW CAN WE FIND THIS WAS ACCEPTED OR NOT? PLEASE HELP

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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16 December 2022 Check the assessment order for AY 2020-21....
Whether the same was assessed under old regime or new regime?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 December 2022 Form 10IC shall be filed only once. Inference - Section 115BAA(5).

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