CA Goutham. D. Pipada

Domestic Company:

New Manufacturing Company to be incorporated

Incorporated on or after 1st March 2016Incorporated between 1st April 2016 upto 31st March 2019
Option 1:

To pay tax @ 25%, subject to following conditions namely-

a. No Section 10AA benefit

b. No additional/accelerated depreciation benefit

c. No section 35 benefit

d. No investment allowance benefit

e. No Chapter VIA deduction benefit (except u/s. 80JJAA)

Option 1:

To pay tax @ 25%, subject to following conditions namely-

a. No Section 10AA benefit

b. No additional/accelerated depreciation benefit

c. No section 35 benefit

d. No investment allowance benefit

e. No Chapter VIA deduction benefit (except u/s. 80JJAA)

Option 2:

To pay normal tax @ 30% by claiming all benefits

Option 2:

To claim 100% deduction of profit for 3 out of 5 years. But pay tax as per section 115JB (MAT)

New Company (other than manufacturing Company) incorporated between 01st April 2016 to 31st March 2019:

To claim 100% deduction of profit for 3 out of 5 years if incorporated between 01st April 2016 to 31st March 2019. But pay tax as per section 115JB (MAT)

Existing Company

If turnover less than Rs. 5 crores in financial year 2014-15Others
Corporate tax @ 29% for assessment year 2017-18Tax @ 30%

Note: The benefit of the 29% is given only for assessment year 2017-18 vide finance bill 2016. Whether the same will continue for subsequent years is a subject matter of next budget.

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