Do you know that manufacturing companies incorporated after 01st Oct, 2019 can opt for an optional tax rate and pay 15%?
March 31, 2020 is already knocking its door. We would be stepping in the new Financial year. Definitely new year may have some changes in the tax rates. Here we come up with an article which gives a detailed information about the tax structure applicable for FY 2020-21.
Tax structure for Companies:
For Domestics Companies:
Gross turnover upto Rs. 400 Crore
| Net income | Tax rate | Surcharge | Cess |
| If net income is upto 1 Crore | 30% | Nil | 4% |
| Above 1 Crore but upto 10 Crore | 30 Lac + 30% | 7% | 4% |
| If net income is above 10 crore | Rs. 3 Cr + 30% | 12% | 4% |
Read more on: https://taxguru.in/income-tax/income-tax-structure-company-llp-fy-2020-21.html
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