Corporate Income Tax

Mohanraj J (1217 Points)

26 July 2020

Is there any minimum income below there is no need to pay corporate income tax?

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CA ABHAY GUPTA (Practice) (3235 Points)
Replied 26 July 2020

No there is no such criteria for corporate

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Mohanraj J (1217 Points)
Replied 26 July 2020

CA Abay Ji, if companies are running under profit of 1 Lakh also liable to pay 30% as a Corporate Tax? am I correct?

CA ABHAY GUPTA (Practice) (3235 Points)
Replied 26 July 2020

Yes but if turnover in FY 2016-17 was below 250 crore then you need to pay tax @ 25% plus 4% HEC total 26%

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Mohanraj J (1217 Points)
Replied 26 July 2020

CA Abhay Ji, thank u so much for your kind assistance.

annu Goyal (1102 Points)
Replied 26 July 2020

Normally Companies have to pay @ 30%
but if your turnover for FY 17-18 is 400cr. then rate will be applicable @ 25% on income whatever income of Co.

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Mohanraj J (1217 Points)
Replied 27 July 2020

Thank you so much Annu Goyal Ji

Kamlesh Patel (12 Points)
Replied 04 October 2020

What if company is new, hence zero turnover in FY 17-18, is the company eligible for 25% tax rate ?

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