Tax rate for company
This query is : Resolved
sanjna pal
(Querist)
29 May 2018
Normal Tax rates applicable to a domestic company
[As amended by Finance Act, 2018]
A domestic company is taxed at a flat rate of 30%. However, tax rate is 25% where turnover or
the gross receipt of the company in the previous year 2016-17 doesn't exceed Rs. 250 crore.
Apart from tax @ 30% or 25%, as the case may be, Health and Education Cess is levied @ 4%
of income-tax.
My query is this if company incorporated in F.Y 2018-19 then tax rate of 25 % can apply or not?
[As amended by Finance Act, 2018]
A domestic company is taxed at a flat rate of 30%. However, tax rate is 25% where turnover or
the gross receipt of the company in the previous year 2016-17 doesn't exceed Rs. 250 crore.
Apart from tax @ 30% or 25%, as the case may be, Health and Education Cess is levied @ 4%
of income-tax.
My query is this if company incorporated in F.Y 2018-19 then tax rate of 25 % can apply or not?
Nikhil Kaushik
(Expert)
30 May 2018
if the turnover is below Rs 250 cr, then 25% tax rate will apply.
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