know the recent changes in the tax audit report applicable for ay 2020 21

know the recent changes in the tax audit report applicable for ay 2020 21




The Taxation Laws (Amendment) Act, 2019 has introduced two new sections – Section 115BAA and Section 115BAB. These sections provide that a company can opt for concessional tax rate regime subject to fulfilment of various conditions. On similar lines, the Finance Act, 2020, inserted Section 115BAC and Section 115BAD to introduce the concessional tax regimes for Individuals, HUFs and Co-operative society.







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