Rate of income tax for domestic companies
This query is : Resolved
biswaranjan rout
(Querist)
22 November 2017
whether the rate @25% u/s 115ba is applicable to all the companies(existing and new)
Ashiwini Ballodia
(Expert)
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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biswaranjan rout
(Querist)
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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