https://www.taxtmi.com/news?id=22213 Creates two optional tax regimes: section 115BAA (22% for domestic companies) and section 115BAB (15% for eligible new manufacturers), effective for assessment years beginning on or after 1 April 2020, each excluding specified deductions and disallowing set off of related past losses or unabsorbed depreciation; options must be timely exercised and are generally irrevocable, with invalidation on non compliance. The Bill amends related provisions including section 115BA, inserts a clause in section 92BA for specified domestic transactions, empowers assessing officer adjustments for connected parties, revises advance tax and surcharge rules, and repeals the corresponding Ordinance. en-us Tue, 03 Dec 2019 15:14:56 +0530 Wed, 11 Feb 2026 15:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22213 Creates two optional tax regimes: section 115BAA (22% for domestic companies) and section 115BAB (15% for eligible new manufacturers), effective for assessment years beginning on or after 1 April 2020, each excluding specified deductions and disallowing set off of related past losses or unabsorbed depreciation; options must be timely exercised and are generally irrevocable, with invalidation on non compliance. The Bill amends related provisions including section 115BA, inserts a clause in section 92BA for specified domestic transactions, empowers assessing officer adjustments for connected parties, revises advance tax and surcharge rules, and repeals the corresponding Ordinance. News - Tue, 03 Dec 2019 15:14:56 +0530 https://www.taxtmi.com/news?id=22213