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Consequences of Non filing of form 10-IC, Income Tax

Issue Id: - 117645
Dated: 16-11-2021
By:- KKGS andCo
Consequences of Non filing of form 10-IC

  • Contents

As per Sec 115BAA, Beneficial rate of 22% is eligible only when form 10IC was filed before filing the ITR by a domestic company. If the form is filed for AY 2020-21, the 143(1) passed by the IT authorities consider 30% as the tax rate, though 25% is eligible.


1. When was form 10IC made available in the Income tax portal ?

2. Remedial actions, if any for this.

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Showing Replies 1 to 2 of 2 Records

1 Dated: 19-11-2021

Whether option has been given in this case to avail the benefits under section 115BAA?

2 Dated: 25-11-2021
By:- Parneet Hora

1. 10IC was made available on IT portal well before the original due date of filing return U/s 139(1)

2. We are facing similar situation in one of our client case. We have filed for rectification and appeal against this.

Contact us if you are able to explore any other option.


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