https://www.taxtmi.com/news?id=22172 Two optional tax regimes are inserted: Section 115BAA (22% tax) and Section 115BAB (15% tax for new manufacturing companies). Both require a prescribed option, disallow specified deductions and related loss set offs, prescribe depreciation treatment, render the option invalid upon non compliance for the relevant and subsequent years, and include anti abuse rules allowing the Assessing Officer to adjust profits from closely connected transactions, with consequential amendments to surcharge, advance tax and related provisions. en-us Mon, 25 Nov 2019 16:10:50 +0530 Wed, 11 Feb 2026 15:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22172 Two optional tax regimes are inserted: Section 115BAA (22% tax) and Section 115BAB (15% tax for new manufacturing companies). Both require a prescribed option, disallow specified deductions and related loss set offs, prescribe depreciation treatment, render the option invalid upon non compliance for the relevant and subsequent years, and include anti abuse rules allowing the Assessing Officer to adjust profits from closely connected transactions, with consequential amendments to surcharge, advance tax and related provisions. News - Mon, 25 Nov 2019 16:10:50 +0530 https://www.taxtmi.com/news?id=22172