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?
CAclubindia
