Income tax rate for private limited company

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Ankita Srivastava (Querist)

13 June 2014 what is the income tax rate for private limited company earning income from foreign clients through paypal?

Nikhil Kaushik

Nikhil Kaushik (Expert)

13 June 2014

Tax Liability for AY 2014-15

Income Tax : 30% of total income.

Surcharge : The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge

At the rate of 5% of such income tax, provided that the total income exceeds Rs. 1 crore. (Marginal Relief in Surcharge, if applicable)

At the rate of 10% of such income tax, provided that the total income exceeds Rs. 10 crores.

Education Cess : 3% of the total of Income Tax and Surcharge.

Ankita Srivastava

Ankita Srivastava (Querist)

13 June 2014 what is the tax rebate for the same?

Nikhil Kaushik

Nikhil Kaushik (Expert)

13 June 2014 tax rebate in what context?

Ankita Srivastava

Ankita Srivastava (Querist)

13 June 2014 you wrote in surcharge point that the amount of income as computed in accordance with above rates and after being reduced by the amount of TAX REBATE..
So i am asking what kind of tax rebate you are talking about?
One more thing there is there any exemption for a company whose total earning is from foreign clients?

Nikhil Kaushik

Nikhil Kaushik (Expert)

13 June 2014 there is no exemption for the total earnings. the tax rebate meant any rebate, if any, applicable. in your case, it is not.

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