Ours was a Public Ltd. company. For AY 2020-21 we have exercised option for lower tax regime u/s 115BAA by filing form 10-IC. U/s 115BAA the option once exercised shall apply to subsequent asst. years.
The Company has been converted into Private Ltd. Company as per fresh certificate of incorporation dated 11.06.2021issued on conversion. Company name has been changed in PAN card. There is no change in the PAN number. It is the same as earlier.
Our queries are:
- In view of change in the name/nature of the Co. from Public Ltd. to Private Ltd., whether we have to exercise option again for AY 2021-22 by filing form 10-IC.
- Even if there is no requirement to exercise option again, as an abundant precaution, should we file form 10-IC again? Will it be accepted at the income tax portal? If accepted, whether there can be any harm in that?
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