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Home > News > Income TaxLast Updated: Oct 21st 2023

Income Tax Portal Introduce Form 56F for Section 10AA Deduction

CBDT introduces new form 56F for the taxpayer claiming deduction u/s 10AA of income tax act. CBDT has introduced a new rele 16D vide notification no 91/2023 on 19th Oct 2023.

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As per the new rule, taxpayers who are claiming deductions u/s 10AA are required to file Form 56F on or before the due date of filing income tax returns. This is applicable from 01st April 2023

Note: Sec 10AA provides income tax deductions for industrial undertakings who has commenced production of goods or operation of ships during the financial year. The deduction is available for a period of 10 years from the date of commencement of production or operation

Through CBDT Circular # 19/2023 dated 21st Oct 2023. More @

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