15-Feb-2020

New Income Tax Forms- (a) Form No. 10-IC and (b) Form No.10-ID Notified


New Income Tax Forms- (a) Form No. 10-IC and (b) Form No.10-ID Notified: In order to choose the Option of Lower 22% Corporate Tax Rate for the AY 2020-2021, a Domestic Company shall be required to file Form No.10-IC as per the provisions of Section 115BAA; and; In order to choose the Option of 15% Corporate Tax Rate, a New Domestic Manufacturing Company shall be required to file its Application on Form No.10-ID as per the provisions of Sec.115BAB.

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