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of <h1>New Manufacturing Tax Regime Offers 15% Rate for Companies Incorporated After 2019 with Production by 2024</h1> Legal Analysis Summary:A new tax provision introduces a concessional tax regime for recently established domestic manufacturing companies. The regime offers a reduced 15% tax rate for qualifying companies incorporated after October 2019 and commencing manufacturing before March 2024. Companies must exercise a binding, irrevocable option to benefit from this regime, which eliminates most tax exemptions and deductions. The policy aims to incentivize manufacturing investments, simplify tax compliance, and enhance India's industrial competitiveness by providing a predictable and competitive tax framework for new manufacturing entities.
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