India: Relief for certain filing delays by taxpayers claiming concessional corporate income tax rate
Relief for delays in filing Form 10-IC or 10-ID
The Central Board of Direct Taxes (CBDT) issued a circular permitting certain tax commissioners to condone delays in filing Form 10-IC or 10-ID by taxpayers seeking a concessional corporate income tax rate of 15% or 22%.
The relief applies to submissions made within three years from the end of the 2020-2021, 2021-2022, and 2022-2023 assessment years, if the tax return was filed timely, the concessional rate opted for, and the delay justified.