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

Issue Id: - 114225
Dated: 11-10-2018
By:- gvenugopal g
Domestic companies - Eligible Rate of Inconme tax for A.Y 2018-19

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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 years 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%

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Showing Replies 1 to 3 of 3 Records

1 Dated: 11-10-2018

Already replied.

2 Dated: 12-10-2018
By:- gvenugopal g


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 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

3 Dated: 16-11-2018

Yes, I confirmed the reply.


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