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of <h1>Clause 205 of Income Tax Bill 2025: New Tax Conditions for Companies and Co-ops, Excludes Software and Mining Activities</h1> Clause 205 of the Income Tax Bill, 2025, outlines conditions for taxing certain companies and co-operative societies. It mandates that total income be computed without deductions or exemptions under specified sections. Conditions include restrictions on business formation, use of previously used machinery, and business activities limited to manufacturing or production. Guidelines may be issued to address difficulties, subject to parliamentary approval. The clause also addresses profit computation in cases of business arrangements yielding extraordinary profits, applying arm's length pricing for specified transactions. Exclusions from manufacturing include software development, mining, and other specified activities.
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