Optional concessional corporate tax regime requires companies to forgo specified deductions and accept irrevocable tax treatment.
Optional concessional corporate tax regime requires domestic companies to compute taxable income without specified deductions and to forgo set-off or carry forward of losses or depreciation attributable to those disallowed items, treating such losses and depreciation as having been given full effect; the option must be exercised in the prescribed manner by the filing due date, is irrevocable and applies to subsequent tax years, with modified treatment for IFSC units and procedural details to be provided by subordinate rules.