Ci rcular So. 6 /2022

F.No.173 /32/2022-lTA-J

Government of India
M inistry or Finance

Department of Revenue
Central Board or Direct Taxes

.... New Delhi , the n Marc h, 2022

Sub: Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in
filin g of Form 10-IC for Asscssmcnt Year 2020-21- Reg.

Section 115BAA of the In come-tax Act, 1961 (the Act) was inserted by the Taxatio n
Laws (Ame ndment) Act, 201 9 w.e .f. 01.04.2020. As per the Section, the in come-tax pa yable
in respect o f the total in come of a person, bcing a domestic company, for any previous year
relevant to the assessment year beginning on or after the Ist day of April , 20 20, shall , at the
option of such person be computed at th e rate of twenty-two per cent subj ect to satisfacti on
of condition s contai ned in sub-section(2) of the Section.

1.2 As per subscction (5) of sec tion 115 BAA of the Act rcad wi th Ru le 2 1AI , of the
Income- tax Rules, 1962 (the Rul es), the assessee compan y is required to submit Form 10- IC
electro nically on or before the due date of filin g of return of income ul s 13 9( I) of the Act and
suc h op tion once exercised shall apply to subscque nt assessment years.

1.3 Fai lure to furnish such option In th e prescribed fo rm on or before the due date
spec ifi ed ul s 139( I) of the Act results in deni al of co ncessional rate of tax of twenty-two per
cent to such person.

2. Representations have been received by the Board stating that Form 10- IC co uld not
be filed along wi th the return o f inco me for A Y 2020-21, whi ch was the first year of filing

of this form. It has becn requested that the delay in filing of Form Io-Ie may he condoned.
-.

3. On consideration of thc matter, with a vicw 10 avoid genuine hardship to the domestic
companies in exercising the option uls 115BAA of the Act, the Central Board of Direct
Taxes, in exercise of the powers conferred under section 119(2)(b) of the Act, hereby directs
that:-

The delay in filing of Form 10-IC as per Rule 21AE of the Rules for the previous year

relevant to A. Y 2020-21 is condoned in cases where the following conditions are satisfied:

i) The return of income for AY 2020-21 has been filed on or before the due date

specified under section 139( I) of the Act;

ii) The assessee company has opted for taxation uls 115BAA of the Act in (e) of "Fili ng

Status" in " Part A-GEN" of th e Form of Retmn of Incom e ITR-6 and

iii) Form 10-IC is filed electronically on or before 30.06.2022 or 3 month s from the end

of the month in which this Circular is issued, whichever is later. ~.'-

(So urab b J ain) "I· /",v>-

Und er Secretary (ITA-I)

Copy to:-

I. PS to FM/OSD to FM/PS to MoS (R) 10SD to MoS (R)

2. PPS to Secretary(Revenue)

3. The Chairman, CBDT & All Members, C BDT

4. All Pr. Chief Commissioners Of Income-lax/Pr. Director General of Income-tax.

5. Pr. Chief Controller of Accounts, New Delhi
6. All Joint SecretariesfCs lT, CBDT
7. CIT( M&TP) , CB DT and Official spokespe rso n of CB DT.

8. The Additional Director General (PR & PP), New Delhi .

9. Add!. CIT, Data-Base Cell - for placing it on www.irsofficersonline.gov.in

10. Web Manager, 0 /0 Pr.DG IT(Systems) with request to upload on the departmental

website. ~.~( "/1-1'-
I I. The Guard File.
(So urab h J ai n)

Under Secretary ( ITA -I )