I had setup a manufacturing Pvt Ltd Co in Oct-19. The Co is converting Single Ply Yarn to Multiple Ply Yarn by processing over newly purchased machines. Also the Co is outsourced some conversion work to other manufacturers of Job Work basis. Please any expert let me confirmed that I am eligible for lower tax rate u/s 115BAB. Please analyse both the scenario, (1) Own manufacturing, and (2) manufacturing by Job Worker.
Menu
115 BAB Eligibility
Replies (1)
For the purpose of this section, the business of manufacture or production of any article or thing shall include the business of generation of electricity. Development of Computer software. Production of cinematograph films. Any other business may be notified by the central government on this behalf. However, company can permanently exit section 115BAA and can claim normal deductions/exemptions and pay tax as per normal regime. Such New Company must not be formed by Splitting up or Reconstruction of earlier business in existence
Recent Topics :
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
Related Topics :
CAclubindia
