https://www.taxtmi.com/acts?id=21175 A new provision permits a qualifying domestic company engaged solely in manufacturing to elect a voluntary concessional tax computation subject to sections 111A and 112, provided it was set up on or after the commencement date. The election requires computing total income without specified incentive deductions and without set-off of losses attributable to those deductions; depreciation is to be determined as prescribed. The option must be filed by the prescribed due date for the first required return and, once exercised, is irrevocable; referenced losses are treated as already given full effect. en-us Fri, 06 May 2016 16:36:25 +0530 Wed, 03 May 2017 12:50:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21175 A new provision permits a qualifying domestic company engaged solely in manufacturing to elect a voluntary concessional tax computation subject to sections 111A and 112, provided it was set up on or after the commencement date. The election requires computing total income without specified incentive deductions and without set-off of losses attributable to those deductions; depreciation is to be determined as prescribed. The option must be filed by the prescribed due date for the first required return and, once exercised, is irrevocable; referenced losses are treated as already given full effect. Act-Rules F. Acts / Amendment Acts Fri, 06 May 2016 16:36:25 +0530 https://www.taxtmi.com/acts?id=21175