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Withdrawal of Sec. 115BAB regime if manufacturing co. diversifies into other business

November 29, 2019
As benefit of reduced corporate tax rate of 15% under section 115BAB is available only to manufacturing companies, it has been proposed under the Taxation laws (Amendment) Bill, 2019 that option to exercise for section 115BAB shall be invalid if the company is subsequently engaged in any non-manufacturing business.
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