Option to Opt Sec 115BAC

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Proprietor
538 Points Posted on 11 February 2022
Section 115BAC is applicable for AY 2021-22.
Now my question is that I don't know whether the assessee will opt sec 115BAC or not while filing his Income Tax Return.
Now how I shall report in Point 8(a) of Form 3cd relating to option to opt Sec 115BAC. Since I don't know whether the assessee will opt or not
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On 11 February 2022 at 02:36 Report
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Quick Summary
This discussion addresses the uncertainty around reporting the option to opt for Section 115BAC in Point 8(a) of Form 3CD. Since the assessee may choose to opt for this section before filing their Income Tax Return, it requires pre-planning. The content highlights that opting for Sec 115BAC is not compulsory and involves sacrificing certain deductions and tax advantages.

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CFO- at NHTF
58280 Points Posted on 11 February 2022
It should be pre-planned..
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On 11 February 2022 at 07:23
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Proprietor
538 Points Posted on 11 February 2022
In point No. 8 of Form 3CD the word used is opted. Till date the assessee has not opted the scheme but before filing return he may opt for it. So how can I write Yes
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On 11 February 2022 at 12:53
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4 Points Posted on 02 April 2022
As i know you have option not compulsory.
you can opt it against secrifice of lots of deduction and many more tax advantages
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On 02 April 2022 at 23:10

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