Preferential tax regime for new manufacturers allows option to compute tax at concessional rates subject to eligibility and computation rules. A domestic manufacturing company may opt for a preferential tax regime under which its total income is taxed at specified concessional rates for different income types, provided the company satisfies registration and commencement criteria, timely files the option, and complies with computation rules. The regime disallows certain deductions and prevents set off of losses or unabsorbed depreciation attributable to those disallowed deductions, treats such losses and depreciation as fully given effect to, and renders the option invalid for the year and subsequent years if eligibility conditions are not met; amalgamated companies may retain the option only if conditions continue to be fulfilled.