Income Tax Rates | Domestic Companies | FY 2017-18 | AY 2018-19

Income Tax Rates | Domestic Companies | FY 2017-18 | AY 2018-19

Income Tax Rates for Domestic Companies/ Indian Companies in respect of FY/ PY 2017-18 (AY 2018-19) are 25% / 30% in case their turnover is upto Rs. 50 crore/ exceeds Rs. 50 crore, respectively, subject to application/ addition of surcharge and education cess, as under:

i) education cess/ secondary and higher education cess @ 3% in all cases; and

ii) surcharge @ 7% / 12% in cases where total income of the Domestic company is above Rs. 1 crore but below Rs. 10 crore/ above Rs. 10 crore, subject to provisions relating to marginal relief, if applicable.

Meaning of Domestic Company

Domestic Company means an Indian company or any other company which, has made the prescribed arrangements for the declaration and payment within India of the dividends (including dividends on preference shares) out of its income liable to income-tax under the Income-tax Act, for the assessment year commencing on the 1st day of April, 2017.

Related Posts:

Income Tax Slabs/ Rates: Income Tax Cess, Surcharge & Rebate
Resident Individuals Education Cess Rates
NRIs/ HUFs/ AOP/ BOI/ AJP Surcharge Rates
Partnership Firms and LLPs Marginal Relief from Surcharge on Income Tax
Domestic Companies Income Tax Rebate u/s 87A for Individuals
Foreign Companies
Co-operative Societies
Local Authorities

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