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Tax Rate of New Company, Income Tax

Issue Id: - 115381
Dated: 3-9-2019
By:- KrishnaKumar A
Tax Rate of New Company

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Hi Experts,

One of my client is a new company, incorporated in FY 2018-19. It's turnover is less than 5 crore during the FY. The company was not in existence during the FY 2016-17 and turnover criteria of 250 Crore may not be applicable here. Its a service sector company and section 115BA is not applicable also. It would be great if anyone can clarify what is the tax rate for this company? 25% or 30%?

Thank you.

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Showing Replies 1 to 2 of 2 Records

1 Dated: 4-9-2019
By:- Neekita Jindal

Hello Dear

Since Sec 115BA is not applicable to your client, tax rate for your client is 30%.

2 Dated: 7-9-2019
By:- CASusheel Gupta

Section 115BA is special section.

Tax rate for all companies, except covered under section 115BA, having turnover less than 250 crore is 25%.

Refer to Section 2 of Finance Act (No. 2) 2019 for tax rate.

CA Susheel Gupta


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