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of <h1>New Tax Regime for Manufacturing Co-ops: 15% General Income, 22% Non-Manufacturing, 30% Deemed Income; Clause 204</h1> Clause 204 of the Income Tax Bill, 2025, introduces a tax regime for new manufacturing co-operative societies in India. These societies can opt for specified tax rates based on their income type, provided they meet certain conditions. A 15% tax rate applies to general income, while 22% is levied on non-manufacturing income and short-term capital gains without depreciation. A 30% rate applies to deemed income. Societies must be registered after April 1, 2023, and start production by March 31, 2024. Once chosen, the tax option is irrevocable and applies to future years unless conditions are unmet.
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