https://www.taxtmi.com/article/detailed?id=9583 Optional concessional corporate tax permits a qualifying domestic company to compute its total income at a lower rate if prescribed conditions are met and the option is timely exercised; the election is irrevocable and lapses on breach. The regime disallows specified incentive and Chapter VI-A deductions, prevents set-off of related carried forward losses and unabsorbed depreciation, prescribes depreciation determination and transitional written down value adjustments, and provides a modified concession for IFSC units while preserving certain employment-related deductions. en-us Sat, 12 Dec 2020 07:14:11 +0530 Sat, 12 Dec 2020 07:14:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9583 Optional concessional corporate tax permits a qualifying domestic company to compute its total income at a lower rate if prescribed conditions are met and the option is timely exercised; the election is irrevocable and lapses on breach. The regime disallows specified incentive and Chapter VI-A deductions, prevents set-off of related carried forward losses and unabsorbed depreciation, prescribes depreciation determination and transitional written down value adjustments, and provides a modified concession for IFSC units while preserving certain employment-related deductions. Articles Income Tax Sat, 12 Dec 2020 07:14:11 +0530 https://www.taxtmi.com/article/detailed?id=9583