Which of these companies is excluded from minimum alternate tax under section 206 of the Income-tax Act, 2025?

Section 206(1)(q) of the Income-tax Act, 2025 states that the section does not apply to a company with income from life insurance business, or to a company that has opted for a concessional regime under section 200(5) or 201(2). Banking and electricity companies remain subject to it and simply prepare their profit and loss statement under their own governing law, while patent royalty is only adjusted in computing book profit.