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

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....ayable in respect of the total 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 Conditio....

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....e 1st April, 2023; (c) has commenced manufacturing or production of an article or thing on or before the 31st March, 2024; (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 may be prescri....

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....years. (3) For the purposes of sub-section (1), the total income of the assessee shall be computed,- (a) without any deduction under-- (i) Chapter VIII other than the provisions of section 146 ^2[or 150]; or (ii) sections specified in ^1[section 205(1)(a)] to (g); (b) without set off of any loss carried forward or depreciation from earlier tax year, if s....