Home Audit & Assurance CBDT Grants Condonation of Delay for Form No. 10-IC Filing in AY 2021-22

CBDT Grants Condonation of Delay for Form No. 10-IC Filing in AY 2021-22

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CBDT Grants Condonation of Delay for Form No. 10-IC Filing in AY 2021-22

CBDT Grants Condonation of Delay for Kind No. 10-IC Submitting in AY 2021-22

The Central Board of Direct Taxes (CBDT) has notified the condonation of delay below part 119(2)(b) of the Revenue-tax Act, 1961 in submitting of Kind No. 10-IC for the Evaluation Yr 2021-22.

The Notification Said:

In train of the powers conferred below part 119(2)(b) of the Revenue-tax Act, 1961 (‘the Act’), the Central Board of Direct Taxes (‘CBDT’) by Round No. 6/2022 of even quantity dated 17.03.2022 condoned the delay in submitting of Kind No. 10-IC as per Rule 21AE of the Revenue-tax Guidelines, 1962 (‘the Guidelines’) for the earlier 12 months related to A.Y. 2020-21 in circumstances the place the situations stipulated within the stated Round are happy.

Representations have been acquired by CBDT stating that Kind No. 10-IC couldn’t be filed for A.Y. 2021-22 throughout the due date or prolonged due date, because the case could also be. It has been requested that the delay in submitting of Kind No. 10-IC for A.Y. 2021-22 could also be condoned.

On consideration of the matter, with a view to keep away from real hardship to the home corporations in exercising the choice u/s 115BAA of the Act, CBDT in train of the powers conferred below part 119(2)(b) of the Act, hereby directs that: –

The delay in submitting of Kind No. 10-IC as per Rule 21AE of the Guidelines for earlier 12 months related to A.Y. 2021-22 is condoned in circumstances the place the next situations are happy:

i) The return of earnings for related evaluation 12 months has been filed on or earlier than the due date specified below part 139(1) of the Act;

ii) The assessee firm has opted for taxation u/s 115BAA of the Act in merchandise (e) of “Submitting Standing” in ‘”Half A-GEN” of the Type of Return of Revenue ITR-6; and

iii) Kind No. 10-IC is filed electronically on or earlier than 31.01.2024 or 3 months from the tip of the month by which this Round is issued, whichever is later.

For Official Notification Obtain PDF Given Under:

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