https://www.taxtmi.com/forum/issue?id=120780 A company that has exercised the 115BAB concessional tax regime through Form 10-ID cannot treat that option as freely reversible, because the election is stated to be irrevocable. If the company later begins trading or otherwise breaches the conditions attached to the 115BAB regime, the concessional rate ceases from the year of violation and the company becomes taxable at the normal applicable rate. The commentary suggests that a separate prospective election under 115BAA may still be arguable if all conditions for that regime are satisfied. en-us Fri, 27 Feb 2026 09:07:14 +0530 Wed, 13 May 2026 14:38:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120780 A company that has exercised the 115BAB concessional tax regime through Form 10-ID cannot treat that option as freely reversible, because the election is stated to be irrevocable. If the company later begins trading or otherwise breaches the conditions attached to the 115BAB regime, the concessional rate ceases from the year of violation and the company becomes taxable at the normal applicable rate. The commentary suggests that a separate prospective election under 115BAA may still be arguable if all conditions for that regime are satisfied. Discussion-Forum Income Tax Fri, 27 Feb 2026 09:07:14 +0530 https://www.taxtmi.com/forum/issue?id=120780