Section 115BAC

Sudha Reddy

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.

Thread Starter

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

Sudha Reddy

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"