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of <h1>New Income Tax Bill 2025: Special Tax Rates for Domestic Manufacturing Firms with Conditions and Irrevocable Election</h1> The Income Tax Bill, 2025, introduces a new tax regime for domestic manufacturing companies, allowing them to opt for specific tax rates if certain conditions are met. A 15% tax rate applies to general income, while a 22% rate applies to non-manufacturing-related income and short-term capital gains, and a 30% rate applies to certain deemed incomes. Eligible companies must be established after October 1, 2019, and commence operations by March 31, 2024. Once the tax option is exercised, it cannot be withdrawn, and failure to meet conditions invalidates the option for that year and subsequent years.
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