Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Union Budget 2023-24 Introduces 15% Tax Rate for New Manufacturing Cooperatives via Section 115BAE, Effective April 2024.</h1> The Union Budget 2023-24 and Finance Bill propose a 15% concessional tax rate for new manufacturing cooperative societies, similar to existing provisions for new manufacturing companies. This is achieved by introducing section 115BAE, which outlines specific conditions for eligibility, such as computing income without certain deductions and ensuring no loss or depreciation carryforwards. The option to opt for this rate must be exercised by a specified deadline and is irrevocable. Additional provisions include higher tax rates for non-manufacturing income and arrangements leading to extraordinary profits. These changes are effective from April 1, 2024, applicable for the assessment year 2024-25 onwards.
TaxTMI 
TaxTMI 