New Section 115BAA – a quick clarification by way of circular seems result of desire for publicity hype for clarifications seekers and clarification by CBDT where in fact clarification is not required.

New Section 115BAA – a quick clarification by way of circular seems result of desire for publicity hype for clarifications seekers and clarification by CBDT where in fact clarification is not required. https://www.taxtmi.com/article/detailed?id=8761 The new elective corporate tax regime under section 115BAA is irreversible once chosen, requires companies to compare present and projected tax positions before electing, and affects specified incentives. Revised depreciation rules are to be prescribed; the elective regime restricts treatment of additional depreciation but preserves ordinary depreciation carryforwards and other losses for set off. Issuance of clarificatory circulars where provisions are clear may create unnecessary confusion and leave other technical issues unresolved. en-us Wed, 09 Oct 2019 18:14:13 +0530 Wed, 09 Oct 2019 18:14:13 +0530 TaxTMI RSS Generator New Section 115BAA – a quick clarification by way of circular seems result of desire for publicity hype for clarifications seekers and clarification by CBDT where in fact clarification is not required. https://www.taxtmi.com/article/detailed?id=8761 The new elective corporate tax regime under section 115BAA is irreversible once chosen, requires companies to compare present and projected tax positions before electing, and affects specified incentives. Revised depreciation rules are to be prescribed; the elective regime restricts treatment of additional depreciation but preserves ordinary depreciation carryforwards and other losses for set off. Issuance of clarificatory circulars where provisions are clear may create unnecessary confusion and leave other technical issues unresolved. Articles Income Tax Wed, 09 Oct 2019 18:14:13 +0530 https://www.taxtmi.com/article/detailed?id=8761