Section 115BAA, introduced by the Taxation (Amendment) Ordinance 2019, offers a reduced corporate tax rate of 25.168% for eligible domestic companies. To avail this benefit, companies must opt-in by the due date for filing their tax return and cannot claim certain deductions like those under Section 10AA or additional depreciation. This section also exempts companies from Minimum Alternate Tax (MAT).
Introduction
S. No.
Particulars
Section 115BAA
1.
Applicability
Any Domestic Company
2.
Rate of Tax
22%
3.
Rate of
Daily Limit Reached
You have reached your daily limit of 2 Free Articles
Subscribe to
CCI PRO
for unlimited access
Why Upgrade to
CCI PRO?
-
No Ads
-
WhatsApp Community
-
Daily E-Newsletter
-
Unlimited Articles Access
-
Profile Visitors
-
Link Social Profiles
-
Featured Job Posts
-
Pro Badge
-
Expert GST Guidance
-
Unlimited Forum Replies
-
Download Content in PDF
BEST VALUE
2 YEAR PLAN
3,499
(Excl. of GST ₹629)
1 YEAR PLAN
1,999
(Excl. of GST ₹359)
3 MONTHS PLAN
999
(Excl of GST ₹179)
View all CCI PRO benfits
Already a PRO member?
Login here
for an ad-free experience.