Concessional tax regime for new manufacturing co-operative societies, subject to eligibility conditions, irrevocable option and transfer pricing checks. A new concessional tax regime permits resident new manufacturing co-operative societies to elect an irrevocable concessional tax rate, subject to ... Summary
Concessional tax regime for new manufacturing co-operative societies, subject to eligibility conditions, irrevocable option and transfer pricing checks.
A new concessional tax regime permits resident new manufacturing co-operative societies to elect an irrevocable concessional tax rate, subject to prescribed conditions: total income must be computed without specified deductions or set off of earlier losses attributable to those deductions, depreciation must be claimed as prescribed, non manufacturing income and certain excess profits from related-party arrangements are taxed at higher fixed rates, and specified domestic transactions are subject to arm's length pricing; limited use of previously used machinery is permitted under conditions.
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TaxTMI 
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