Tax rate of companies
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2011
what is the rate of tax on Companies. I have seen the b/s of HUL and surya pharma, tax rate is app 21% but it is 30%. Kindly study the same.
18 June 2011
Tax rate is 30% but the difference is due to assessable income computed under Income Tax Act. This may be due to difference in calculation of depreciation as per it act or as per cos act. There may be many other items as per computation which are not exactly as per P&L a/c. Concept of deffered assets and liabilities also come into play due to this reason.
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