BSNL : Calling of option for new personal taxation regime of reduced tax rates with no exemptions/deductions/setoff of loss
BHARAT SANCHAR NIGAM LIMITED
1) The Chief General Managers/IFAs, All BSNL Circles.
2) All PGMs/Sr.GMs/GMs, BSNL, C.O.
Sub.:- Calling of option for new personal taxation regime of reduced tax rates with no exemptions or deductions or setoff of loss etc. in case of individuals & HUFs as provided u/s 115 BAC of the IT Act, 1961 (applicable w.e.f. AY 2021-22) – reg.
Kindly refer to this office letter of even number/3777 dated 20.04 .2020 vide which it was informed that, “if the employee opts for new Tax regime as provided u/s 115 BAC of Income Tax Act, 1961, he/ she is required to furnish his option/declaration by 28 April 2020 to the concerned DDO”.
In this connection, now it has been decided by the Competent Authority to extend the last date for employee to furnish his /her option/declaration to the concerned DDO under new Tax regime as provided u/s 115 BAC of Income Tax Act, 1961 from 28 April, 2020 to 31st May 2020.
All other terms and conditions will remain the same.
The instructions may be circulated amongst all field formations for their information, guidance and necessary action.
This issues with the approval of Sr.GM (Taxation).
(Subrat Kumar Mohakud)