Table of Contents
1. What is Form 10-ID?
- A newly incorporated domestic company in the manufacturing sector who is opting for section 115BAB is required to file form 10-ID on or before the due date to file ITR as per section 139 (1)
2. Who is eligible to file the form under section 10-ID?
- New Domestic Company engaged in manufacturing, opting to pay tax under section 115BAB has to file Form 10-ID.
3. Is filing of form 10-ID mandatory?
- No, filing of Form 10-ID is mandatory only if the company exercises the option to pay tax under section 115BAB.
4. Is it necessary to file form 10-ID every year?
- No, if Form 10-ID is filed in respect of one assessment year, the same shall apply to the subsequent years also.
5. Can the option to pay tax under section 115BAB be withdrawn?
- No, the option once exercised cannot be withdrawn for the lifetime of the company.
6. How should I file form 10-ID?
- Form 10-ID can be filled and submitted through the assessee login in the e-filing portal.
- Form 10-ID cannot be filed physically.
7. Is it necessary to e-verify for submitting the Form 10-ID?
- Yes, it is necessary to e-Verify Form 10-ID. You can e-Verify the form using Digital Signature Certificate.
8. What are the pre-requisites for filing form 10-ID?
- Registered user on the e-Filing portal with valid user ID and password.
- Valid and active Digital Signature Certificate (to e-Verify).
- Not filed any return of income in the past assessment years.