https://www.taxtmi.com/article/detailed?id=8763 The fifteen percent tax option for new domestic manufacturing companies is tightly conditioned: companies must be newly set up and commence manufacturing by a fixed deadline; formation by splitting or reconstruction is largely barred; use of previously used machinery or certain pre-used buildings is prohibited save narrow exceptions; the company must engage only in manufacture and related research or distribution; a range of specified deductions and chapter VI-A benefits are disallowed and related loss carryforwards cannot be set off; the option is exerciseable by the prescribed due date and, once exercised, is irrevocable; related-party arrangements may be adjusted to arm's length profits. en-us Thu, 10 Oct 2019 10:59:23 +0530 Thu, 10 Oct 2019 10:59:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8763 The fifteen percent tax option for new domestic manufacturing companies is tightly conditioned: companies must be newly set up and commence manufacturing by a fixed deadline; formation by splitting or reconstruction is largely barred; use of previously used machinery or certain pre-used buildings is prohibited save narrow exceptions; the company must engage only in manufacture and related research or distribution; a range of specified deductions and chapter VI-A benefits are disallowed and related loss carryforwards cannot be set off; the option is exerciseable by the prescribed due date and, once exercised, is irrevocable; related-party arrangements may be adjusted to arm's length profits. Articles Income Tax Thu, 10 Oct 2019 10:59:23 +0530 https://www.taxtmi.com/article/detailed?id=8763