Quick Summary
CBDT issued Circular No. 19/2023 dated October 23, 2023 regarding the condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC for the Assessment Year 2021-22. This circular is a welcome relief for taxpayers who have not yet filed Form No. 10-IC for the Assessment Year 2021-22. Official copy of the circular has been mentioned below In exercise of the powers conferred under section 119(2)(b) of the Income-tax Act, 1961 (the Act), the Centra
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN - Rs.1999
1799
(Excl. of GST ₹323)
2 Years PLAN - Rs.3499
3149
(Excl. of GST ₹566)
BEST VALUE
3 Years PLAN - Rs.4999
4499
(Excl. of GST ₹809)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The circular allows for the condonation of delay in filing Form No. 10-IC for the Assessment Year 2021-22 under Section 119(2)(b) of the Income-tax Act, 1961.
Domestic companies that have not yet filed Form No. 10-IC for AY 2021-22 and are opting for taxation under Section 115BAA will benefit.
The return of income must be filed by the due date, the company must have opted for Section 115BAA in ITR-6, and Form 10-IC must be filed electronically by the specified deadline.
The deadline is 31st January 2024, or three months from the end of the month in which the circular was issued, whichever is later.
Form No. 10-IC needs to be filed, and the option for Section 115BAA must be selected in 'Part A-GEN' of the ITR-6 return.
CAclubindia
