Rule 21AH - Exercise of option under sub-section (5) of section 115BAD - Income-tax Rules, 1962

1 [21AH. Exercise of option under sub-section (5) of section 115BAD. - (1) The option to be exercised in accordance with the provisions of sub-section (5) of section 115BAD by a person, being a cooperative society resident in India, for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2021, shall be in Form No. 10-IF. (2) The option in Form No. 10-IF shall be furnished electronically either under digital signature or electronic verification code. (3) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall, - (i) specify the procedure for filing of Form No. 10-IE; (ii) specify the data structure, standards and manner of generation of electronic verification code, referred to in sub-rule (2), for verification of the person furnishing the said Form; and (iii) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the Form so furnished. ] ************** NOTES:- 1. Inserted vide NOTIFICATION NO. 82/2020 dated 01-10-2020