CBDT Amends ITR -7 To Allow Taxable Income Of Assessees Eligible To File ITR -7 Liable For Tax Rate At The Rates Applicable To AOP

The Central Board of Direct Taxes (CBDT) has amended ITR -7 so as to allow taxable income of assessees eligible to file ITR -7 liable for tax rate at the rates applicable to AOP i.e. Slab rate applicable to Individuals.The Board has notified the Income-tax (Twenty-Seventh Amendment) Rules, 2023.Earlier to this amendment taxable income was liable for a 30% flat tax rate under section 115 BBI....