Rate of income tax for domestic companies
This query is : Resolved
22 November 2017
whether the rate @25% u/s 115ba is applicable to all the companies(existing and new)
22 November 2017
It is applicable for new company because it is given that "the company has been set-up and registered on or after the 1st day of March, 2016"
For more details kindly refer https://incometaxindia.gov.in/Acts/Finance%20Acts/2016/102120000000058883.htm
For more details kindly refer https://incometaxindia.gov.in/Acts/Finance%20Acts/2016/102120000000058883.htm
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22 November 2017
BUT OUR AUDITOR SAYING 25% IS APPLICABLE FOR EXISTING COMPANY ALSO
22 November 2017
115BA is an option for those companies registered on or after 1-4-2016 and is
applicable from assessment year 2017-18. (ie 25% tax rate)
But for assessment year 2018-19 tax rate is 25% for all companies where its total
income or gross receipts in the previous year 2015-16 does not exceed
Rs. 50 /-Crores.
applicable from assessment year 2017-18. (ie 25% tax rate)
But for assessment year 2018-19 tax rate is 25% for all companies where its total
income or gross receipts in the previous year 2015-16 does not exceed
Rs. 50 /-Crores.
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