Income Tax : The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an a...
Income Tax : Penalties for failing to maintain records of specified domestic transactions. Learn about arm's length pricing & essential documen...
Income Tax : Explore special tax regimes for companies, individuals, and co-operatives, including rates, conditions, and exemptions. Learn how ...
Income Tax : Decipher the tax landscape for domestic companies with a comprehensive breakdown of Sections 115BA, 115BAA, and 115BAB. Explore th...
Income Tax : Budget 2023: section 115BAE provides concessional tax regime of 15% to new manufacturing co-operative societies...
Income Tax : CBDT notifies forms for exercising option u/s 115BAA and 115BAB – Notification No. 10/2020, dated 12-02-2020 Section 115BAA deal...
The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an appeal to the Commissioner of Income-tax (Appeals), deposit of tax on distributed profits of domestic companies, filing return of income, filing belated return of income, etc.).
Penalties for failing to maintain records of specified domestic transactions. Learn about arm’s length pricing & essential document requirements
Explore special tax regimes for companies, individuals, and co-operatives, including rates, conditions, and exemptions. Learn how to opt in or out of these regimes.
Decipher the tax landscape for domestic companies with a comprehensive breakdown of Sections 115BA, 115BAA, and 115BAB. Explore the nuances, conditions, and benefits under each section, offering insights into tax rates for domestic manufacturing companies. Stay informed, optimize tax planning, and navigate compliance effectively.
Budget 2023: section 115BAE provides concessional tax regime of 15% to new manufacturing co-operative societies
Get answers to FAQs on Section 115BAB of Income Tax Act, 1961. Learn about tax implications for new manufacturing domestic companies.
Understand the provisions of Section 115BAB for new manufacturing domestic companies. Explore tax rates, conditions, exceptions, and the option to opt for this section. Learn about the application process, eligibility criteria, and the timeline for exercising this option. Stay informed on the latest tax regulations for optimal financial planning.
1. 15% Tax rate in case of certain domestic manufacturing Company. 2. Surcharge of 10% is applicable irrespective of the amount of total income. 3. Effective Tax Rate is 17.16%(15%+10%+4%). 4. Company is not Required to Pay MAT 5. Tax on Special rate of Income is Taxable as per their applicable tax Rate (like 112A […]
1. This section is applicable on domestic companies 2. This section is applicable from the AY 2020-21 3. Effective Tax rate under this section is 17.16% (Tax 15% plus, Surcharge 10% and Cess 4%) 4. The company should be incorporated and registered in India on or after 1st October 2019 5. The company should commenced […]
How to file Income Tax Form 10-ID under Section 115BAB – FAQs Q.1 What is Form 10-ID? Ans. New Manufacturing Domestic Companies can opt to pay tax at a concessional tax rate of 15% (plus applicable surcharge and cess) under Section 115BAB of the Income Tax Act, 1961 subject to certain conditions. In order to […]
