Income tax rate for private limited company

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Ankita Srivastava (Querist)
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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)
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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)
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13 June 2014 what is the tax rebate for the same?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 June 2014 tax rebate in what context?

Ankita Srivastava

Ankita Srivastava (Querist)
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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)
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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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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 June 2014 there is no special rebate for all co but for specified co like for 80-IB.

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