Rate of income tax

[GOPAL HARLALKA]

Turnover including excise duty of a private limited company in the F.Y. 205-16 is more than 50 crore.

after excluding excise duty turnover is less than 50 crore.

my query is regarding rate of tax..

will it be 25% or 30% for the assessment 2018-19

CA GOPAL HARLALKA JAMSHEDPUR

[DR.MARIAPPAN GOVINDARAJAN]

In my view 30%

AI Summary

Income tax rate treated at higher corporate rate where turnover including excise exceeds threshold; advisory says higher rate applies. Question whether a private company's corporate tax rate should be the lower concessional rate or the higher standard rate where turnover including excise duty exceeds the threshold but turnover excluding excise duty falls below it; advisory reply states the higher corporate tax rate applies.