Option to adopt concessional company tax regime is declared by principal officer and is irrevocable once exercised. Application form requires the principal officer of a company to declare exercise of the option under sub-section (4) of section 115BA, providing company identification (name, domestic status, PAN, registered address, date of incorporation, and nature of business) and affirming that the statutory conditions will be satisfied. The form must be signed by the principal officer and the option, once exercised for any previous year, is irrevocable for that year and any other previous year.