TMI BlogCompanies [Computation of “advance tax” and charging of income-tax in special cases during the FY 2024-25 (Assessment Year 2025-26).]X X X X Extracts X X X X X X X X Extracts X X X X ..... of the First Schedule to the Bill . In case of domestic company, the rate of income-tax shall be 25% of the total income, if the total turnover or gross receipts of the previous year 2022-23 does not exceed four hundred crore rupees and where the companies continue in section 115BA regime. In all other cases the rate of income-tax shall be 30% of the total income. However, domestic companies also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tinue to be levied, if the total income of the domestic company (except those opting for taxation under section 115BAA and section 115BAB of the Act ) exceeds ten crore rupees. 4. In case of companies other than domestic companies, the existing surcharge of 2% shall continue to be levied, if the total income exceeds one crore rupees but does not exceed ten crore rupees. Surcharge at the rate of 5% ..... X X X X Extracts X X X X X X X X Extracts X X X X
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