Tax on Income of newly formed Resident Co-Operative Societies - Section 115BAE

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....acturing or production of an article or thing and in respect of which no specific rate of tax has been provided separately under this Chapter * Such income shall be taxed at the rate of 22% and no deduction or allowance in respect of any expenditure or allowance shall be made in computing such income. * Income-tax payable in respect of the income, of the assessee deemed so under the second proviso to section 115BAE(4) shall be computed at the rate of 30%. * Short term capital gains derived from transfer of a capital asset on which no depreciation is allowable under the Act * income-tax payable in respect of such STCG at the rate of 22%. * Surcharge rate will be 10% irrespective of total Income. * Certain Conditions specified un....

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.... or production of any article or thing shall include the business of generation of electricity, but not include a business of- * (i) development of computer software in any form or in any media; * (ii) mining; * (iii) conversion of marble blocks or similar items into slabs; * (iv) bottling of gas into cylinder; * (v) printing of books or production of cinematograph film; or * (vi) any other business as may be notified by the Central Government in this behalf; * Clause (c) Certain Restrictions * (i) Assessee should not claim following deductions * Section 10AA: Deductions from the Special Economic Zones (SEZ) unit. * Section 32(1)(iia) : Additional Depreciation * Section 33AB : Deduction given on rubber manufacturing, ....