https://www.taxtmi.com/caselaws?id=797305 Domestic companies with turnover below the prescribed threshold are taxable at the 25% rate under the applicable Finance Act. Eligibility depends on the statutory conditions, not on an incorrect reference to section 115BA in the return. A mistaken provision cited while claiming the lower rate does not permit taxation at 30% where the Finance Act independently prescribes the 25% rate. The applicable rate must therefore be determined from the company's eligibility under the Finance Act. en-us Thu, 13 Aug 2026 00:00:00 +0530 Thu, 20 Aug 2026 08:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797305 Domestic companies with turnover below the prescribed threshold are taxable at the 25% rate under the applicable Finance Act. Eligibility depends on the statutory conditions, not on an incorrect reference to section 115BA in the return. A mistaken provision cited while claiming the lower rate does not permit taxation at 30% where the Finance Act independently prescribes the 25% rate. The applicable rate must therefore be determined from the company's eligibility under the Finance Act. Case-Laws Income Tax Thu, 13 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797305