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Section 115BAC

Does a person having income under head PGBP can opt for new scheme under section 115BAC??


Divya Nandagopal

Divya Nandagopal

CA Inter

0

31-Mar-21 14:11

30

Answers (4)

Applicable to Individual or a Hindu undivided family, its not dependent on the source of income but its an option available to Individual or HUF.


sudha reddy

sudha reddy

Moderator

01-Apr-21 16:43

Applicable to Individual or a Hindu undivided family, its not dependent on the source of income but its an option available to Individual or HUF.

Oh ok... any individual or HUF can choose this option right??


Divya Nandagopal

Divya Nandagopal

CA Inter

0

02-Apr-21 12:23

Oh ok... any individual or HUF can choose this option right??

Yes. Sec 115BAC (1) states "Notwithstanding anything contained in this Act but subject to the provisions of this Chapter, the income-tax payable in respect of the total income of a person, being an individual or a Hindu undivided family, for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2021, shall, at the option of such person, be computed at the rate of tax given"


sudha reddy

sudha reddy

Moderator

02-Apr-21 12:24

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