Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2011 Dear Sirs,
Please tell me the rate of tax For calculating deferred tax liability for the year ending 31st March, 2011

Thanks in advance,
Chalapathi Rao
Student

CA Ankit Verma

CA Ankit Verma (Expert)
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24 August 2011 The rate of tax for calculating deferred rate of tax liability for the year ending 31st March, 2011 for domestic co. is 33.2175%

i.e.

30% + [(2% + 1%) of 30] = 30.9%

Now,
Add Surcharge@7.5%

i.e. 30.9% + 7.5% of 30.9 = 33.2175%

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2011 thanks a lot sir

CA Ankit Verma

CA Ankit Verma (Expert)
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24 August 2011 Welcome...
:)

chintan mehta

chintan mehta (Expert)
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02 September 2011 the rate for calculating deferred tax is 32.445% for the year ending 31-03-11. not 33.2175%.

coz it is to be calculated as per future tax rate and not at current tax rate..

30% + 5%+ 3%...