Rate of income tax for domestic companies
This query is : Resolved
22 November 2017
whether the rate @25% u/s 115ba is applicable to all the companies(existing and new)
22 November 2017
It is applicable for new company because it is given that "the company has been set-up and registered on or after the 1st day of March, 2016"
For more details kindly refer http://incometaxindia.gov.in/Acts/Finance%20Acts/2016/102120000000058883.htm
For more details kindly refer http://incometaxindia.gov.in/Acts/Finance%20Acts/2016/102120000000058883.htm
Message likes :
1 times
22 November 2017
BUT OUR AUDITOR SAYING 25% IS APPLICABLE FOR EXISTING COMPANY ALSO
22 November 2017
115BA is an option for those companies registered on or after 1-4-2016 and is
applicable from assessment year 2017-18. (ie 25% tax rate)
But for assessment year 2018-19 tax rate is 25% for all companies where its total
income or gross receipts in the previous year 2015-16 does not exceed
Rs. 50 /-Crores.
applicable from assessment year 2017-18. (ie 25% tax rate)
But for assessment year 2018-19 tax rate is 25% for all companies where its total
income or gross receipts in the previous year 2015-16 does not exceed
Rs. 50 /-Crores.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
