Tax rate 25% or 30%
This query is : Resolved
18 September 2019
Dear Sir / Madam,
A Ltd was formed on 01/05/2017 i.e. during FY 2017-18. Now while computing the income tax for FY 2018-19, there is a condition that if turnover or gross receipts for FY 2016-17 are below 250 crore, the tax rate can be taken as 25% otherwise 30%.
So what will be tax rate for A Ltd for FY 2018-19?
Kindly guide,
Thanks & Regards,
Suraj
A Ltd was formed on 01/05/2017 i.e. during FY 2017-18. Now while computing the income tax for FY 2018-19, there is a condition that if turnover or gross receipts for FY 2016-17 are below 250 crore, the tax rate can be taken as 25% otherwise 30%.
So what will be tax rate for A Ltd for FY 2018-19?
Kindly guide,
Thanks & Regards,
Suraj
18 September 2019
Give the turnover of A Ltd.
18 September 2019
Sir, A Ltd was non-existent in FY 2016-17 as it was incorporated in FY 2017-18...therefore no turnover. So which rate of tax is applicable?? Please guide.
18 September 2019
25% applicable if turnover below 250 cr.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- U/s.234E late fee- balated filing the TDS returns
- Query for LTCG
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
