Domestic companies - Eligible Rate of Inconme tax for A.Y 2018-19

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..... Domestic companies - Eligible Rate of Inconme tax for A.Y 2018-19
Query (Issue) Started By: - gvenugopal g Dated:- 11-10-2018 Last Reply Date:- 16-11-2018 Income Tax
Got 3 Replies
Income Tax
Dear All, Kindly suggest us, whether applicability of tax rate is 25% or 30% for A.Y 2017-18 & 2018-19 Company incorporated on 16-Dec-2015 Turnover (Rupees in Crore) of last three financial yea .....

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..... rs are FY 2015-16 ₹ 37.42, FY 2016-17 ₹ 236.22 and FY 2017-18 ₹ 108.55 For the Assessment Years 2017-18 & 2018-19, whether the above domestic company is eligible for Income tax payable at the rate of 25% Kindly suggest whether we need to pay Income tax @ 25% or 30% Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Already replied. Reply By gvenugopal g: The Reply: To - .....

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..... DR.MARIAPPAN GOVINDARAJAN Respected Sir You have replied for rate of tax for 115BA companies as below: The first condition of Section 115BA(2) is not fulfilled your company is not eligible to pay tax at 25%. (The company is not incorporated after 01.04.2016). But my second query is relating to a domestic company with turnover below ₹ 250 Crore and turnover below ₹ 50 Crore for P.Y .....

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..... 2015-16 ( NOT for Tax on income of certain domestic companies u/s 115 BA) Are you still contending that the company is not eligible to pay tax at 25% Apart from this The first condition of Section 115BA(2) is the company should have been incorporated on or after 01.03.2016 and NOT 01.04.2016. Kindly confirm Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Yes, I confirmed the reply.
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