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

1 [ 21AHA. Exercise of option under sub-section (5) of section 115BAE . (1) The option to be exercised in accordance with the provisions of sub-section (5) of section 115BAE by a person, being a co-operative society resident in India, for any previous year relevant to the assessment year beginning on or after the 1 st day of April, 2024, shall be in Form No. 10-IFA. (2) The option in Form No. 10-IFA 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-IFA; (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. 83/2023 dated 29-09-2023