Section 115BAA - Page 4

Section 115BAA of Income Tax Act, 1961 | Finance Act, 2020

Salient features of section 115BAA of the Income tax Act. 1961 (status as on 30th March 2020) as amended by Finance Act 2020 and as approved by the President of India on 27th March 2020. Background: Inorder to promote growth and investment and to be competitive as a nation (especially with respect to tax rates), […]...

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Posted Under: Income Tax |

Section 115BAA New tax rate for domestic companies & Section 115BAB Corporate tax rate for new manufacturing companies

Section 115BAA – New tax rate for domestic companies The Government of India has introduced the Taxation (Amendment) Ordinance 2019 on the 20th of September 2019. Several amendments are made to the Income Tax Act,1961 through this ordinance. Changes such as corporate tax rate cut for domestic companies and as well as for manufacturing c...

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Posted Under: Income Tax |

Income Tax Rates for AY 2020-21 (FY 2019-20)

In this Article we update you about the Income tax slab rates applicable to different types of taxpayers such as Individual, HUF, Partnership Firms, AOP/BOI, Co-operative Society, Local authorities, Domestic as well as Foreign Companies, etc for assessment year 2020-21 i.e. financial year 2019-20. Articles compiles Income Tax Rate Chart f...

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Forms for exercise of Lower Income Tax rate option for Companies released

Notification No. 10/2020-Income Tax [G.S.R. 110(E)] 12/02/2020

CBDT notifies forms for exercising option u/s 115BAA and 115BAB – Notification No. 10/2020, dated 12-02-2020 Section 115BAA deals New tax rate for domestic companies and Section 115BAB deals with Corporate tax rate for new manufacturing companies for Financial Year 2019-20 onwards. Now CBDT has released FORM No. 10-IC for Application fo...

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