Tax on income of certain new manufacturing co-operative societies.

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.... income of an assessee, being a co-operative society, resident in India, engaged in the business of manufacture or production of any article or thing, shall at the option of such assessee, be computed at the rates specified in column A of the said Table, if the conditions contained in column B thereof are fulfilled. Table Total income and rate of tax Conditions A B (a) 15% on the total incom....

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....cle or thing on or before the 31st March, 2024; and (d) the total income of which is computed as per the provisions of sub-section (3); and (e) fulfils all the conditions provided in section 205(2). (2) The option under this section shall be exercised by the assessee in the manner as prescribed subject to the following conditions:-- (a) it shall be exercised on or before the due date specifie....

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....er VIII other than the provisions of section 146; or (ii) sections specified in 205(1)(a) to (g); (b) without set off of any loss carried forward or depreciation from earlier tax year, if such loss or depreciation is attributable to any of the deductions referred to in clause (a). (4) While computing the income of the assessee, the loss and depreciation, or both, as specified in sub-section (....