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of <h1>New Manufacturing Cooperative Societies Get 15% Tax Rate Under Special Regime with Strict Eligibility Criteria</h1> The statutory provision establishes a special tax regime for new manufacturing cooperative societies in India. Eligible societies can opt for a 15% tax rate if they are newly established between April 1, 2023, and March 31, 2024, exclusively engaged in manufacturing, and meet specific conditions. The provision includes detailed requirements about business formation, machinery usage, income computation, and mandatory compliance. Certain income types may be taxed at different rates, and the option can be invalidated if conditions are not satisfied.
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