Corporate Income Tax
Mohanraj J (1178 Points)
26 July 2020
Is there any minimum income below there is no need to pay corporate income tax?
7 Replies
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 26 July 2020
No there is no such criteria for corporate
Mohanraj J
(1178 Points)
Replied 26 July 2020
CA Abay Ji, if companies are running under profit of 1 Lakh also liable to pay 30% as a Corporate Tax? am I correct?
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 26 July 2020
Yes but if turnover in FY 2016-17 was below 250 crore then you need to pay tax @ 25% plus 4% HEC total 26%
Mohanraj J
(1178 Points)
Replied 26 July 2020
CA Abhay Ji, thank u so much for your kind assistance.
annu Goyal
(1102 Points)
Replied 26 July 2020
Normally Companies have to pay @ 30%
but if your turnover for FY 17-18 is 400cr. then rate will be applicable @ 25% on income whatever income of Co.
but if your turnover for FY 17-18 is 400cr. then rate will be applicable @ 25% on income whatever income of Co.
Kamlesh Patel
(12 Points)
Replied 04 October 2020
What if company is new, hence zero turnover in FY 17-18, is the company eligible for 25% tax rate ?
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