Section 115BAE → Section 119
Tax on income of certain new manufacturing co-operative societies (15% Regime)
Quick Answer
Section 115BAE of the Income Tax Act, 1961 (Tax on income of certain new manufacturing co-operative societies (15% Regime)) corresponds to Section 119 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 115BAE
Provision Summary
Parity provision allowing new manufacturing co-operative societies to avail the 15% concessional tax rate.
Sec 119
Provision Summary
Retained. Brings them on par with new manufacturing companies under Section 115BAB.
Key Changes & Highlights
- Strict commencement deadlines applied.
Frequently Asked Questions
What does Section 115BAE of the Income Tax Act 1961 deal with?
Section 115BAE (Tax on income of certain new manufacturing co-operative societies (15% Regime)) Parity provision allowing new manufacturing co-operative societies to avail the 15% concessional tax rate.
What is the new section number for Section 115BAE under the Direct Tax Code 2025?
Section 115BAE of the ITA 1961 maps to Section 119 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 115BAE under the new tax code?
Section 115BAE is marked as "Retained" with status "Active". Impact: Medium - Boosts agro-processing manufacturing in the co-operative sector.
What are the key changes to Section 115BAE under DTC 2025?
Strict commencement deadlines applied.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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