https://www.taxtmi.com/acts?id=51729 A domestic manufacturing company incorporated after the specified commencement date may elect to compute tax at a flat statutory rate provided it is exclusively engaged in manufacture, research or distribution of its products, computes total income without certain specified deductions, and does not set off carried-forward losses attributable to those disallowed deductions; such attributable losses are deemed fully given effect and cannot be claimed later. The election must be made in the prescribed manner by the due date for the first return and, once made, applies to subsequent years and is generally irrevocable. en-us Thu, 14 Aug 2025 11:29:32 +0530 Thu, 28 Aug 2025 12:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51729 A domestic manufacturing company incorporated after the specified commencement date may elect to compute tax at a flat statutory rate provided it is exclusively engaged in manufacture, research or distribution of its products, computes total income without certain specified deductions, and does not set off carried-forward losses attributable to those disallowed deductions; such attributable losses are deemed fully given effect and cannot be claimed later. The election must be made in the prescribed manner by the due date for the first return and, once made, applies to subsequent years and is generally irrevocable. Act-Rules Income Tax Thu, 14 Aug 2025 11:29:32 +0530 https://www.taxtmi.com/acts?id=51729