Dear All,
Kindly suggest us, whether applicability of tax rate whether 25% or 30%
Company incorporated on 16-Dec-2015
Turover (Rupees in Crore) of last three financial years are FY 2015-16 Rs.37.42, FY 2016-17 Rs.236.22 and FY 2017-18 Rs.108.55
[For the Assessment Year 2018-19, a domestic company is taxable at 30%. However, tax rate would be 25% where turnover or gross receipt of the company does not exceed Rs. 50 crore in the previous year 2015-16]
[Section 115BA has been inserted w.e.f: ASST YEAR 2017-16, to opt 25% rate, 'The Company has been set-up and registered on or after 01-March-2016]
Kindly clarrify whether we need to pay Income tax @ 25% or 30%
Thanks & Regards: Murugesan Muthuraman, Erode (+919677480111)