https://www.taxtmi.com/forum/issue?id=116067 A new provision permits a concessional corporate tax option under which any domestic company may elect a reduced corporate rate only if it forgoes specified exemptions, incentives and deductions; the option alters effective tax incidence inclusive of surcharge and cess and exempts electing companies from the Minimum Alternate Tax. The expert response to whether an existing higher rate company can avail the option by simply foregoing listed benefits is negative. en-us Wed, 26 Feb 2020 11:08:49 +0530 Thu, 23 Jan 2025 15:54:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116067 A new provision permits a concessional corporate tax option under which any domestic company may elect a reduced corporate rate only if it forgoes specified exemptions, incentives and deductions; the option alters effective tax incidence inclusive of surcharge and cess and exempts electing companies from the Minimum Alternate Tax. The expert response to whether an existing higher rate company can avail the option by simply foregoing listed benefits is negative. Discussion-Forum Income Tax Wed, 26 Feb 2020 11:08:49 +0530 https://www.taxtmi.com/forum/issue?id=116067