Clarification in respect of option exercised under section 115BBA of the Income-tax Act, 1961 inserted through the recent Ordinance

Last updated: 05 December 2019

Notice Date : 02 October 2019

F. No. 142f2012019·TPL

Government of India

Ministry of Finance

Department of Revenue

Cenrtal Board of Direct Taxes

New Delhi 2 of October, 2019

Subject: Clarifications in respect of option exercised under section 115BAA of the Income tax Act,1961 inserted through The Taxation Laws (Amendement)Ordinance,2019-reg.

The Taxation Laws (Amendment)Ordinance 2019 (the Ordinance) has been promulgated by the President of India on September 20,2019.The Ordinance , inter alia,inserted a new section 115BAA in the Income tax Act,1961 (the Act)with effect from April 1,2020

To know more in details,click here