What is the new tax rate applicable for June 2020 exam

Earlier the tax rate for domestic co. Is 25% if the turnover of such co. during the PY 16-17 does not exceed Rs.250 crore ,otherwise 30% Now the tax rate for domestic co. Is 25% if the total turnover or gross receipts of PY 17-18 up to Rs.400 crore ,otherwise 30%

Polaki Sulochana

CA Inter

★ 5K+

05-Apr-20 20:30

There are no changes in other tax rates but are changes in surcharge rates

Polaki Sulochana

CA Inter

★ 5K+

05-Apr-20 20:32

What is the surcharge %??

Thread Starter

Mohamed Aasik

CA Inter

★ 770

05-Apr-20 20:33

Newly added for the existing ones if the T.I is greater than 2cr but less than or equal to 5cr then surcharge rate is 25% T.I is greater than 5cr then surcharge rate is 37%

Polaki Sulochana

CA Inter

★ 5K+

05-Apr-20 20:41

It is in case of individual, HUF,AOP,BOI,AJP

Polaki Sulochana

CA Inter

★ 5K+

05-Apr-20 20:42

For Individual/HUF/AOP/BOI/AJP INCOME >Rs. 50 lakhs upto 1 crore -Surcharge-10% >1 crore upto 2 crore -Surcharge-15% >Rs. 2 crore upto 5 crore - Surcharge-25% >5 crore - Surcharge-37%

KEERTHI PRIYA

CA Inter

★ 695

07-May-20 14:58