https://www.taxtmi.com/acts?id=51730 A domestic company may elect a concessional tax option subject to specified Parts and exclusions; under the option certain categories of deductions are disallowed and any loss or depreciation attributable to those disallowed deductions cannot be set off or carried forward and are deemed extinguished. The option must be exercised in the prescribed manner by the return due date, applies to subsequent years, is irrevocable, and becomes invalid for the year and following years if the conditions are not met. An IFSC unit may have a specified modification allowing a particular deduction subject to its conditions. en-us Thu, 14 Aug 2025 11:29:51 +0530 Wed, 11 Mar 2026 17:13:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51730 A domestic company may elect a concessional tax option subject to specified Parts and exclusions; under the option certain categories of deductions are disallowed and any loss or depreciation attributable to those disallowed deductions cannot be set off or carried forward and are deemed extinguished. The option must be exercised in the prescribed manner by the return due date, applies to subsequent years, is irrevocable, and becomes invalid for the year and following years if the conditions are not met. An IFSC unit may have a specified modification allowing a particular deduction subject to its conditions. Act-Rules Income Tax Thu, 14 Aug 2025 11:29:51 +0530 https://www.taxtmi.com/acts?id=51730