CBDT issues Circular C1 of 2020 dated 13.04.2020 clarifying the process of exercising of option by a taxpayer with regard to deduction of tax at source if he/she opts for the concessional rates of tax as per section 115BAC of IT Act,1961 https://t.co/uFAQ7Figkp & Employee to intimate employer of intention to opt for new concessional rates.Intimation so given will be applicable for the year &can't be modified.However,employee will continue to have the right to exercise such option or continue with earlier scheme at time of filing ITR.#StaySafe #StayAtHome