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Corporate Tax @25% u/s 115BA or applicable to MSME in respect of Turnover - Income TaxExtract Dear All, Kindly suggest us, whether applicability of tax rate whether 25% or 30% Company incorporated on 16-Dec-2015 Turover (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 Year 2018-19, a domestic company is taxable at 30%. However, tax rate would be 25% where turnover or gross receipt of the company does not exceed ₹ 50 crore in the previous year 2015-16] [ Section 115BA has been inserted w.e.f: ASST YEAR 2017-16, to opt 25% rate, 'The Company has been set-up and registered on or after 01-March-2016'] Kindly suggest whether we need to pay Income tax @ 25% or 30%
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