Taxation of company

Save Share

This query is : Resolved

S.Jegadeesan (Querist)

30 June 2012 Dear Sir,
Pl clarify the following doubt
i.e. A company having its registered office in India.But majority of the shares held by the foreign company.Further its status/category also subsidiary of foreign company in MCA Records.Now I wish to clarify that,at what rate of tax applicable under IT Act for this type of companies?
i.e. Whether 30% or 40%?
Regards,
S.Jegadeesan

CA. Anuj Gupta

CA. Anuj Gupta (Expert)

02 July 2012 An Indian Company if registered under Companies Act and shall be called Domestic Company.

“domestic company” means an Indian company, or any other company
which, in respect of its income liable to tax under this Act, has
made the prescribed arrangements for the declaration and payment,
within India, of the dividends (including dividends on preference
shares) payable out of such income ;]

S.Jegadeesan

S.Jegadeesan (Querist)

03 July 2012 Dear Sir,
Thanks for your reply.However Better if your reply will be in a single line.
i.e. Whether it will be taxed @ 40% or 30%?

Regards,
S.Jegadeesan

CA. Anuj Gupta

CA. Anuj Gupta (Expert)

03 July 2012 30% plus surcharge plus education and secondary education and healthcare cess.

so 30.9% if income is below 1 crore.
so 32.445% if incoem is in excess of 1 crore.

Anuj
femaquery@gmail.com

S.Jegadeesan

S.Jegadeesan (Querist)

03 July 2012 Dear Sir,
Thank you so much for youe reply.

Regards,
S.Jegadeesan

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now