PREM kasi (Internal audit) 21 September 2019
Hi All, Few QUERIES which I need clarifications from you:
1. 25.17% effective income tax rate proposed for domestic manufacturing companies, effective F.Y.19-20
2. 17.01% income tax rate proposed on new companies incorporated after 1.10.2019, investing in domestic manufacturing; subject to conditions
W.r.t to above, Please clarify the breakup of percentages…like 15% plus 4% cess + 12% surcharge gives me 17.48% but not 17.01%. The same with 22% +4% +12% which is 25.63% but not 25.17%.
Moreover, the 10% surcharge rates are not mentioned for Companies and applicable only for individuals/HUF categories ....
Please clarify Thanks in advance !!