Tax on income of certain manufacturing domestic companies - Section (New) 199 / (Old) 115BA

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....ons. Eligible Person • The option is available only to Domestic companies, i.e., companies incorporated in India. • As per section 2(42) define the "domestic company" means -  • (i) an Indian company; or • (ii) any other company which has made the prescribed arrangements within India for the declaration and payment of the dividends (including dividends on preference shares) payable out of its income liable to tax under this Act; Concessional Tax Rate • If the conditions are satisfied The income-tax payable on total income will be 25%. • This is an optional regime, meaning the company may choose whether to opt for it. • Such Concessiona....

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....sp;(b) or (c) :- Certain payments to research association, university, college, national laboratory, etc.; (c) section 46 :- Capital expenditure for the purposes of any specified business; (d) section 47(1)(a) :- Expenditure on agricultural extension project by any assessee; (e) section 48 :- Deductions related to certain business or investment expenditures (f) section 49 :- Deduction of the amount Deposited in Site Restoration Fund by a company engaged in extracting, or producing petroleum or natural gas, or both;; (g) section 144 :- Deduction in respect of profits and gains derived from exports by newly established units in Special Economic Zones. ....

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....t of other deductions under IT Act :- - Section 10AA :- Deductions from the Special Economic Zones (SEZ) unit. - Section 32(1)(iia) :- Additional Depreciation - Section 32AD :- Expenditure that is allocated on machinery and new plants manufactured in the notified backward areas in the states of Bihar, West Bengal, Telangana and Andhra Pradesh. - Section 33AB :- Deduction given on rubber manufacturing, tea and coffee. - Section 33ABA :- Deposits made to the site restoration fund by the companies producing or extracting petroleum and natural gas in India. - Section 35(1)(ii), (iia), (iii), 35(2AA), 35(2AB) :- Scientific Research ....