Home › CA Final › taxation › Assessment of Various Entities › Section 115BAD/115BAE concessional regime is for:
Section 115BAD/115BAE concessional regime is for:
AResident co-operative societies (per relevant Section)
BForeign companies
CDomestic companies (per relevant Section) (per relevant Section)
DAll assessees
Answer & Solution
Correct answer: A. Resident co-operative societies (per relevant Section)
1. Section 115BAD: resident co-op societies — optional 22% basic.
2. Section 115BAE (FA 2023): 15% rate for new manufacturing co-op societies set up after 1 April 2023.
3. Both analogous to 115BAA/115BAB; specified deductions forgone.
_Source: ICAI BoS CA Final Paper 7, Ch 9 "Assessment of Various Entities"_
Related questions
'Specified domestic transaction' threshold under Section 92BA:Tax planning vs evasion — which is impermissible?LLP is taxed like:Co-operative society normal rates start at:MAT for IFSC units (income solely in convertible FX):Tax on REIT/InvIT interest from SPV:Section 115BAC default regime applies to:AOP/BOI taxed at MMR when: