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of <h1>Elective concessional tax regime for new domestic manufacturers: fixed rates (15%, 22%, 30%), strict conditions, irrevocable option</h1> An elective concessional regime grants newly formed domestic manufacturers fixed tax rates (15% for manufacturing income, 22% for certain non-manufacturing and short-term gains, 30% for specified deemed income) subject to strict temporal and procedural conditions, exclusion of specified deductions/set-offs, and an irrevocable option that, if breached, is invalidated prospectively. Key legislative changes from the Bill to the Act broadened scope by adding Part E and converting narrowly numbered cross-references into wider section references, expanding the provisions that interact with or are excluded from the regime and thus potentially widening the tax base and interpretive reach; compliance, recordkeeping and allocation evidence are critical.
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