Rate of Taxes for Companies

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• Rates of Taxation for Companies

• DOMESTIC COMPANY

• FOREIGN COMPANY

• Total Turnover for P.Y. 2014-15 does not exceed Rs. 5 Cr,

• Other Domestic Companies

• 29% of T.I

• 30% of T.I

• New Section 115BA has been inserted to provide Income Tax of a Domestic Company for any P.Y. relevant to AY 2017-18 & thereafter shall be 25% of T.I AT THE OPTION OF THE COMPANY if:1. Company setup & regd on or after 01/03/2016,2. Not engaged in any business OTHER THAN the business of manufacturing of an article or thing and research in relation to or distribution of such article or thing mfgd by it, &3. The Co. while computing its T.I has not claimed any benefit under any of the following Sections:       i. Sec 10AA      - PGBP from export of Goods/services from a unit in SEZ      ii. Sec 32(1)(iia)- Addl Depn @20% of P&M A&I by Mfg or Power Sector                                      undertakings     iii. 32AC             - Dedn of 15% of Actual Cost of new P&M A&I during P.Y.                                   (i.e exceeding Rs. 25 Cr.     iv. 32AD             - Dedn of 15% of Actual Cost of P&M A&I in notified                                            backward areas of specified states.      v. 33AB             - 40% PGBP of R/C/T     vi. 33ABA           - Dedn of 20% of Profits of Business of prospecting                                            Oil/N.G/Both in India, to the extent deposited with SBI                                      in an approved Scheme or Deposited in Site                                                      Restoration Fund.