Not opting for the provisions of section 115BAA

X Ltd., a domestic company not opting for the provisions of section 115BAA, has a total income of ` 10,01,00,000 for A.Y.2021-22. The gross receipts of X Ltd. for P.Y.2018-19 is ` 260 crore. The tax liability of X Ltd. for A.Y.2021-22 is?

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Quick Summary
This discussion calculates the tax liability for X Ltd., a domestic company for AY 2021-22. The company has a total income of ₹1,00,01,00,000 and gross receipts of ₹260 crore in PY 2018-19. It is noted that X Ltd. has not opted for the provisions of Section 115BAA. The calculated tax liability, including the potential benefit of marginal relief, is ₹2,79,24,000.

Tax liability will be 2,79,24,000 rupees
1 if not opting for 115BAA

Marginal relief benefit available

Tax 31304000
(tax on 10 Cr + 1L) + 4 %

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