Tax on Income of certain Resident Co-operative societies - Section 115BAD

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..... r s ection 115BAD shall be taxable @22%. Special Income under section 111A, 112 , 112A shall be taxable @ Special rates. Surcharge rate will be 10% irrespective of total Income. Assessee opting for section 115BAD shall not be required to pay AMT. Brought forward AMT credit cannot be utilized against income, u/s 115BAD. Therefore, if assessee has b/f AMT credit, it should first exhaust the AMT cred .....

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..... n agriculture extension projects. Any deduction in respect of certain income under chapter VI-A except Section 80JJAA , 80LA In case of a person, having a Unit in the International Financial Services Centre, as referred to in section 80LA(1A) , which has exercised option under sub-section 115BAD(5), the conditions contained in section 115BAD(2) shall be modified to the extent that the deduction un .....

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..... has not been given full effect to prior to the assessment year beginning on the 1st day of April, 2021, corresponding adjustment shall be made to the written down value of such block of assets as on the 1st day of April, 2020 in such manner as may be prescribed, if the option under section 115BAD(5) is exercised for a previous year relevant to the assessment year beginning on the 1st day of April, .....

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