Question 1

What is section 115BAA and who can opt for it?

Accepted Answer

Audited financial statements for the year - the balance sheet as at 31 March 2026 and the statement of profit and loss, with the schedules behind them. A company on Ind AS gives the Ind AS versions; the form carries a separate Part A-BS - Ind AS and Part A-P&L - Ind AS for them. The figures are keyed into the return, not attached to it (FORM ITR-6 (AY 2026-27), Part A-BS 'BALANCE SHEET AS ON 31ST DAY OF MARCH, 2026 OR AS ON THE DATE OF AMALGAMATION' and Part A-P&L; Part A-BS - Ind AS '[applicable for a company whose financial statements are drawn up in compliance to the Indian Accounting Standards specified in Annexure to the Companies (Indian Accounting Standards) Rules, 2015]'); Tax audit report under section 44AB (Form 3CA/3CB with Form 3CD), where the company is liable - e-filed separately by the accountant. The return records its date of furnishing, its ACKNOWLEDGEMENT NUMBER, the name of the auditor (proprietorship/firm) and that firm's PAN (FORM ITR-6 (AY 2026-27), AUDIT INFORMATION A20(b)-(c): 'Whether liable for audit under section 44AB? ... If (b) is Yes, whether the accounts have been audited by an accountant? ... (1) Date of furnishing of audit report (2) Acknowledgement Number of the Audit Report (3) Name of the auditor (proprietorship/firm) (4) Permanent Account Number (PAN) of the proprietorship/ firm'); Transfer pricing audit report under section 92E, where the company is liable, with its date of furnishing and acknowledgement number (FORM ITR-6 (AY 2026-27), AUDIT INFORMATION A20(di)-(dii): 'Are you liable for Audit u/s 92E?' and 'If (di) is Yes, whether the accounts have been audited u/s. 92E? ... Date of furnishing audit report? DD/MM/YYYY ... Acknowledgement Number'); Any other audit report required under the Income-tax Act, with the section code, the date of furnishing and the acknowledgement number for each (FORM ITR-6 (AY 2026-27), AUDIT INFORMATION A20(diii): 'If liable to furnish other audit report under the Income-tax Act, mention whether have you furnished such report. If yes, please provide the details as under: Sl. No. | Section Code | Date (DD/MM/YYYY) | Acknowledgement Number'); Form 10-IB, 10-IC or 10-ID, where the company has opted or is opting for taxation under section 115BA, 115BAA or 115BAB - the return needs the assessment year the option was first exercised, and the date of filing and acknowledgement number of that form (FORM ITR-6 (AY 2026-27), Part A-GEN (e): 'Have you opted for taxation under section 115BA/115BAA/115BAB? ... If yes, please furnish the AY in which said option is exercised for the first time along with date of filing of relevant form (10-IB/ 10-IC/ 10-ID) & acknowledgment number. If no, whether you are choosing to opt for taxation under section 115BA/115BAA/115BAB this year? ... Please provide the date of filing of relevant form (10-IB/10-IC/10-ID) & acknowledgment number.'); Tax computation and the supporting schedules - advance tax and self-assessment tax challans, and TDS and TCS credit particulars, reconciled against Form 26AS / AIS. The challan and deduction details are entered in the return's tax-payment schedules; no certificate or challan is attached (FORM ITR-6 (AY 2026-27), Part B-TTI and Schedules TDS/TCS (ScheduleTDS2, ScheduleTDS3 and the TCS schedule in the Department's schema for the year)); Particulars of every Managing Director, director, secretary and principal officer who held office during the year, and of the person verifying the return - name, designation, residential address, PAN or Aadhaar number, and DIN issued by MCA for each director (FORM ITR-6 (AY 2026-27), KEY PERSONS A23: 'Particulars of Managing Director, Directors, Secretary and Principal officer(s) who have held the office during the previous year and the details of eligible person who is verifying the return. | S.No. | Name | Designation | Residential Address | PAN/Aadhaar No. | Director Identification Number (DIN) issued by MCA, in case of Director'); Particulars of every beneficial owner of 10% or more of the voting power at any time during the year - name, address, percentage held and PAN (FORM ITR-6 (AY 2026-27), SHAREHOLDERS INFORMATION A24: 'Particulars of persons who were beneficial owners of shares holding not less than 10% of the voting power at any time of the previous year | S.No. | Name and Address | Percentage of shares held | PAN'); The company's Corporate Identity Number (CIN) issued by MCA, its date of incorporation and its date of commencement of business (FORM ITR-6 (AY 2026-27), Part A-GEN, PERSONAL INFORMATION: '(A4) Corporate Identity Number (CIN) issued by MCA', '(A5) Date of incorporation (DD/MM/YYYY)', '(A6) Date of commencement of business (DD/MM/YYYY)'); Udyam registration number under the MSMED Act 2006, where the company is recognised as an MSME; and an LEI number with its valid-upto date, where the refund claimed is Rs 50 crore or more (FORM ITR-6 (AY 2026-27), Part A-GEN (r) 'Legal Entity Identifier (LEI) details (mandatory if refund is 50 Crores or more) | LEI Number | Valid upto date' and (s) 'Whether you are recognized as MSME? ... If yes, please provide registration number allotted as per MSMED Act, 2006'); Digital Signature Certificate of the person verifying the return - understood to be the only permitted verification method for a company, though see the note (Income-tax Rules 1962, rule 12(3) - NOT READ AT SOURCE. Previously cited to the Instructions to Form ITR-6 for AY 2021-22: 'This Return Form can be filed with the Income-tax Department electronically ... and verified by way of digital signature only')

Question 2

Shops & Establishment Registration — Jammu and Kashmir

Accepted Answer

J&K replaced its 1966 shops law in November 2025. The new Act extends to the whole Union Territory and applies to all shops and establishments, but registration is OPTIONAL for establishments with fewer than twenty employees. Threshold: Applies to all shops and establishments in J&K, but section 5(1) second proviso makes registration OPTIONAL for shops and establishments with fewer than twenty employees. Establishments already registered under the 1966 Act are deemed registered under the new Act. Fee basis: Section 5(1) requires the application to be accompanied by 'such fee and documents as may be prescribed' and section 5(3) makes renewal payable on 'such fee/late fee as may be prescribed'. The Act itself prescribes no amount, and no rules under it were found published, so no figure is recorded. Renewal: Section 5(3): the registration certificate is initially valid up to ten years, ending on 31 December of that year, and may be renewed at a time for a period of up to five years on payment of such fee or late fee as may be prescribed. Deadline: Section 5(1): apply online within sixty days from the date of commencement of trade or business, or from the date the shop or establishment comes into existence. Statute: The Jammu and Kashmir Shops and Establishments (Licensing, Regulation of Employment and Conditions of Service) Act, 2025 (Act No. VI of 2025), assented 1 November 2025, published in the J&K Official Gazette Vol. 138, No. 32-3. Section 35 repeals the Jammu and Kashmir Shops and Establishments Act, 1966. Every fact above was read in the J&K Official Gazette text of the Act itself, published as a PDF on the Government of J&K single window portal (a gov.in host) and listed there under Labour Department as 'JK shops and establishment bill no. 6 of 2025', dated 01-11-2025. NO FEE IS RECORDED: the Act leaves every amount to rules that were not found published.

Question 3

Pollution control consent — Meghalaya

Accepted Answer

Consent to Establish and Consent to Operate are required under section 25 of the Water Act, 1974 and section 21 of the Air Act, 1981; the fee is graded by total capital investment and differs between establish and operate. Threshold: Every industry seeking Consent to Establish or Consent to Operate; fee graded by total capital investment. Fee basis: slab by total capital investment, with a SEPARATE and lower amount for Consent to Operate and renewal than for Consent to Establish. Adopted by Board resolution at its 48th meeting on 14 December 2007, in line with the Assam State Pollution Control Board structure, with effect from 1 April 2008. Slabs: Total investment up to Rs 5 lakh: Consent to Establish — INR 2000; Total investment up to Rs 5 lakh: Consent to Operate and renewal — INR 1000; Total investment exceeding Rs 5 lakh but not Rs 10 lakh: Consent to Establish — INR 5000; Total investment exceeding Rs 5 lakh but not Rs 10 lakh: Consent to Operate and renewal — INR 2500; Total investment exceeding Rs 10 lakh but not Rs 20 lakh: Consent to Establish — INR 8000; Total investment exceeding Rs 10 lakh but not Rs 20 lakh: Consent to Operate and renewal — INR 5000; Total investment exceeding Rs 20 lakh but not Rs 50 lakh: Consent to Establish — INR 12000; Total investment exceeding Rs 20 lakh but not Rs 50 lakh: Consent to Operate and renewal — INR 7500; Total investment exceeding Rs 50 lakh but not Rs 1 crore: Consent to Establish — INR 50000; Total investment exceeding Rs 50 lakh but not Rs 1 crore: Consent to Operate and renewal — INR 10000; Total investment exceeding Rs 1 crore but not Rs 5 crore: Consent to Establish — INR 75000; Total investment exceeding Rs 1 crore but not Rs 5 crore: Consent to Operate and renewal — INR 25000; Total investment exceeding Rs 5 crore but not Rs 10 crore: Consent to Establish — INR 100000; Total investment exceeding Rs 5 crore but not Rs 10 crore: Consent to Operate and renewal — INR 50000; Total investment exceeding Rs 10 crore but not Rs 50 crore: Consent to Establish — INR 200000; Total investment exceeding Rs 10 crore but not Rs 50 crore: Consent to Operate and renewal — INR 100000; Total investment exceeding Rs 50 crore but not Rs 100 crore: Consent to Establish — INR 300000; Total investment exceeding Rs 50 crore but not Rs 100 crore: Consent to Operate and renewal — INR 200000; Total investment exceeding Rs 100 crore but not Rs 200 crore: Consent to Establish — INR 500000; Total investment exceeding Rs 100 crore but not Rs 200 crore: Consent to Operate and renewal — INR 300000; Total investment above Rs 200 crore: Consent to Establish — INR 700000; Total investment above Rs 200 crore: Consent to Operate and renewal — INR 500000 Statute: The Water (Prevention and Control of Pollution) Act, 1974, section 25; the Air (Prevention and Control of Pollution) Act, 1981, section 21 Last session's note said the Meghalaya State Pollution Control Board's own domain 'was not located'. It is megspcb.gov.in, and the Board's Online Consent Management and Monitoring System is at megocmms.nic.in; both render. The complete eleven-row fee table was read from the Board's own notification No. MPCB/TB-2(Pt-I)A/2007-08/190 dated Shillong 17 March 2008, served from megocmms.nic.in. Note the structural point a founder needs: unlike Maharashtra, Meghalaya charges a DIFFERENT and lower amount for Consent to Operate than for Consent to Establish at every slab, and the jump at the Rs 50 lakh to Rs 1 crore band is steep (CTE rises from Rs 12,000 to Rs 50,000).

What is section 115BAA and who can opt for it?

Documents required for Company Income Tax Return

Shops & Establishment Registration — Jammu and Kashmir

Pollution control consent — Meghalaya

Stamp duty on incorporation — Sikkim

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