1. What is Form 10-ID?
New Manufacturing Domestic Companies can opt to pay tax at a concessional tax rate of 15% (plus applicable surcharge and cess) under Section 115BAB of the Income Tax Act, 1961 subject to certain conditions. In order to do so, it is essential to file Form 10-ID on or before the due date specified under sub-section (1) of Section 139 for furnishing the returns of income for the first assessment year commencing on or after 1st day of April, 2020 to avail the benefit.

2. Who is required to file Form 10-ID?
A New Manufacturing Domestic Company incorporated on or after the 1st day of October, 2019 which has commenced manufacturing or production of an article or a thing on or before the 31st day of March, 2023, and opts to be taxed at concessional rate, is required to file Form 10-ID.

3. Is it mandatory for all applicable taxpayers (domestic companies) to file Form 10-ID?
No. This is optional. Form 10-ID is required to filed only if a domestic company chooses to opt for concessional tax rate of 15% (plus applicable surcharge and cess) under Section 115BAB of the Income Tax Act, 1961.

4. How can I file and submit Form 10-ID?
You can file form 10-ID through the online mode only (through the e-Filing portal).

5. What is the timeline for filing this form?
You will be required to file Form 10-ID before due date for filing of ITR.

6. Do I need to file the form again for the next assessment year?
No. If you have opted for concessional tax rates once, it shall apply to subsequent assessment years and cannot be withdrawn.

7. How do I know that the form has been submitted successfully?
You will receive a confirmation on your email ID and mobile number registered with the e-Filing portal. Additionally, you can also view the status in your Worklist under For your Actions tab.

8. Is e-Verification necessary for submitting Form 10-ID? if yes, how can I e-Verify the Form 10-ID?
Yes, it is necessary to e-Verify Form 10-ID. You can e-Verify using Digital Signature Certificate.