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of <h1>Finance Bill 2020 amends Section 115BAB, excluding most Chapter VI-A deductions for new manufacturing companies' tax rate.</h1> Clause 52 of the Finance Bill, 2020 proposes amendments to section 115BAB of the Income-tax Act, which pertains to the tax rate on income for new manufacturing domestic companies. The amendment modifies sub-section (2), clause (c), sub-clause (i) to exclude deductions under Chapter VI-A, except sections 80JJAA and 80M, from total income computation. Additionally, an Explanation is added to include electricity generation within 'manufacture or production' for clause (b). These changes are effective from April 1, 2020, applicable to the assessment year 2020-2021 and subsequent years.
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