As per Sec 115BAA, Beneficial rate of 22% is eligible only when form 10IC was filed before filing the ITR by a domestic company.
Form 10IC was inadvertently not filed for AY 20-21 before due date and now demand 143(1) has been passed by the IT authorities for the AY 2020-21 consider 30% as the tax rate.
We have filed 10IC this month only.
Questions:
1. Remedial actions, if any for this so that Income is taxed @ 22% for the AY 20-21
2. Whether IT authorities are correct to Tax @ 30% or should 25% we charged ?
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