company rate of tax 29% if following condition's are satisfied
1. if company turnover in f.y.14-15 is less than 5 cr. or
2. if company turnover in f.y. 15-16 is less than 50 cr.
Domestic Company
For Assessment Year 2017-18, tax rate would be 29% where turnover or gross receipt of the company does not exceed Rs. 5 crore in the previous year 2014-15
[However for Assessment year 2018-19, tax rate would be 25% where turnover or gross receipt of the company does not exceed Rs. 50 crore in the previous year 2015-16]
CAclubindia
