Normal  ‘Tax Rates’ applicable to a ‘Foreign Company’(A.Y. 2019-2020 i.e. F.Y. 2018-2019)

 

Company

Rate of income-tax (per cent)

 

Assessment Year 2018-19

Assessment Year 2019-20

In case of Foreign Company –

  • Royalty received from Government or an Indian concern in pursuance of an agreement made by it with the Indian concern after March 31, 1961, but before April 1, 1976 or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by the Central Government

 

  • Other Income

 

 

 

 

 

 

 

50

 

 

 

 

 

40

 

 

 

 

 

50

 

 

 

 

 

40

 

Surcharge - Surcharge is applicable at the rates given below—

 

If Net Income does not exceed Rs. 1 Crore

If Net Income is in range of Rs. 1 Crore – Rs. 10 Crore

If Net Income exceed Rs. 10 Crore

Foreign company

Nil

2% (Note-1)

5% (Note-2)

 

Note -1

Marginal relief - In the case of a company having a net income of exceeding Rs. 1 crore, the amount payable as income- tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 1 crore by more than the amount of income that exceeds Rs. 1 crore.

Note -2

Marginal relief - in the case of a company having a net income of exceeding Rs. 10 crore, the amount payable as income- tax and surcharge shall not exceed the total amount payable as income-tax and surcharge on total income of Rs. 10 crore by more than the amount of income that exceeds Rs. 10 crore.

s           Education Cess ( for assessment year 2018-19)- It is 2% of income-tax and surcharge.

s           Secondary and Higher Education Cess (for assessment year 2018-19) - It is 1% of income-tax and surcharge.

s           Health and Education Cess ( for assessment year 2019-20) - It is 4% of income-tax and surcharge.

 
 

 
 
Get.. Tally.ERP9 Book + GST Practical Assignment @ Rs.550 Tally.ERP9 Book Online Order Tally.ERP9 Book Content
 
© 2018 : IncomeTaxManagement