India's Central Board of Direct Taxes has published Circular No. 29/2019 of 2 October 2019, which clarifies certain aspects of the conditions for companies to apply the 22% corporate tax rate introduced under new Section 115BAA by the Taxation Laws (Amendment) Ordinance 2019 ({News-2019-09-23/A/2-previous coverage}). Specifically, Circular No. 29/2019 addresses the allowability of brought forw…