{"id":248,"date":"2022-03-19T10:26:25","date_gmt":"2022-03-19T10:26:25","guid":{"rendered":"http:\/\/sonycl.com\/blog\/?p=248"},"modified":"2022-03-19T10:26:25","modified_gmt":"2022-03-19T10:26:25","slug":"condonation-of-delay-filing-form-10-ic-for-a-y-2020-21","status":"publish","type":"post","link":"https:\/\/sonycl.com\/blog\/2022\/03\/19\/condonation-of-delay-filing-form-10-ic-for-a-y-2020-21\/","title":{"rendered":"Condonation of Delay \u2013 Filing Form 10-IC For A Y 2020-21"},"content":{"rendered":"\n<p>CBDT vide Circular No 6\/2022 Dated 17<sup>th<\/sup> March 2022 has decided to Condone the delay in Filing form 10-IC for the AY 2020-21 (First Year of Filing of this Form.)<\/p>\n\n\n\n<p>As per <strong>Section 115BAA<\/strong> a Domestic Company has an option to pay tax at a <strong>concessional Rate of 22%<\/strong> subject to satisfaction of certain condition.<\/p>\n\n\n\n<p><strong>For exercising option<\/strong> under section 115BAA, the assessee company is required to submit <strong>Form 10- IC<\/strong> electronically <strong>on or before the due date<\/strong> of filing of return of income u\/s 139(1).<\/p>\n\n\n\n<p>Failure to furnish such option in the prescribed form on or before the due date specified u\/s 139(1) results in denial of concessional rate.<\/p>\n\n\n\n<p><strong>Conditions to be Satisfied for Condonation of Delay in Filing Form 10-IC<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>The return of income for A Y 2020-21 has been filed on or before the due date specified under section 139(1)<br><\/li><li>The assessee company has opted for taxation u\/s 115BAA of the Act in (e) of &#8220;Filing Status&#8221; in &#8221; Part A-GEN&#8221; of the Form ITR-6<br><\/li><li>Form 10-IC is filed electronically <strong>on or before 30.06.2022 or 3 months from the end of the month in which this Circular is issued, whichever is later.<\/strong><\/li><\/ol>\n\n\n\n<p>For the Circular No 06\/2022 Dated 17\/03\/2022, Click below: <\/p>\n\n\n\n<div class=\"wp-block-file\"><a id=\"wp-block-file--media-eec7b4b4-6a6a-4ac7-a662-fa5fb5e997f8\" href=\"http:\/\/sonycl.com\/blog\/wp-content\/uploads\/2022\/03\/Circular-No-6-2022.pdf\">Circular-No-6-2022<\/a><a href=\"http:\/\/sonycl.com\/blog\/wp-content\/uploads\/2022\/03\/Circular-No-6-2022.pdf\" class=\"wp-block-file__button\" download aria-describedby=\"wp-block-file--media-eec7b4b4-6a6a-4ac7-a662-fa5fb5e997f8\">Download<\/a><\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBDT vide Circular No 6\/2022 Dated 17th March 2022 has decided to Condone the delay in Filing form 10-IC for the AY 2020-21 (First Year of Filing of this Form.) As per Section 115BAA a Domestic Company has an option to pay tax at a concessional Rate of 22% subject to satisfaction of certain condition&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-248","post","type-post","status-publish","format-standard","hentry","category-income-tax"],"_links":{"self":[{"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/posts\/248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/comments?post=248"}],"version-history":[{"count":1,"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/posts\/248\/revisions"}],"predecessor-version":[{"id":250,"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/posts\/248\/revisions\/250"}],"wp:attachment":[{"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/media?parent=248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/categories?post=248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sonycl.com\/blog\/wp-json\/wp\/v2\/tags?post=248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}