Tax rate for company
This query is : Resolved
29 May 2018
Normal Tax rates applicable to a domestic company
[As amended by Finance Act, 2018]
A domestic company is taxed at a flat rate of 30%. However, tax rate is 25% where turnover or
the gross receipt of the company in the previous year 2016-17 doesn't exceed Rs. 250 crore.
Apart from tax @ 30% or 25%, as the case may be, Health and Education Cess is levied @ 4%
of income-tax.
My query is this if company incorporated in F.Y 2018-19 then tax rate of 25 % can apply or not?
[As amended by Finance Act, 2018]
A domestic company is taxed at a flat rate of 30%. However, tax rate is 25% where turnover or
the gross receipt of the company in the previous year 2016-17 doesn't exceed Rs. 250 crore.
Apart from tax @ 30% or 25%, as the case may be, Health and Education Cess is levied @ 4%
of income-tax.
My query is this if company incorporated in F.Y 2018-19 then tax rate of 25 % can apply or not?
30 May 2018
if the turnover is below Rs 250 cr, then 25% tax rate will apply.
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
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Disallowance of Section 43B(h) to sez units
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- GSTR9 applicability
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
