New tax regime for individuals, Hindu undivided family and others.

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.... (b) a Hindu undivided family; or (c) an association of persons (other than a co-operative society); or (d) a body of individuals, whether incorporated or not; or (e) an artificial juridical person referred to in section 2(77)(g), in respect of the total income for a tax year, shall, unless the person exercises the option in the manner provided under sub-section (4), be computed at the rate....

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....ies referred to in section 21(6); (vi) section 33(8); (vii) section 48; (viii) section 49; (ix) section 45(3)(a) or (b) or (c); (x) section 46; (xi) section 47(1)(a); (xii) of Chapter VIII other than the provisions of sections 124(1), 125(3) and 146; and (b) without set off of- (i) any loss carried forward or depreciation from any earlier tax year, if such loss or depreciation is....

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....before the due date specified under section 263(1) for furnishing the returns of income for such tax year; (ii) such option, once exercised, shall apply to subsequent tax years; (iii) such option, once exercised, may be withdrawn only once for a tax year other than the tax year for which it was exercised; and (iv) after such withdrawal, the person shall never be eligible to exercise the opti....