Company Income Tax Rates

A number of companies are registered each year to operate business legally in India. Every registered company which is registered at Ministry of Corporate Affairs is liable to fulfill the required compliance to maintain legal status of the business entity. A registered company is required to file income tax return on or before 30th September of every year after the end of financial year on 31st March.

Here are some important details for due dates for company income tax return filing.

Income Tax is the tax over the complete income/ profit of the company. It is not the revenue or sales but the final profit earned by company after deducting expenses and taxes. Thus a company is required to file the company income tax if it has earned profit.

ITR-6 Form

ITR – 6 Form is the required for application of income tax return filing. The company must get its account audited and use the digital signature certificate to file the ITR.

Business Tax Rates

As per the latest notification from the Finance Ministry, MCA; the corporate tax levied on private limited firm is between 25% to 30%.

If the turnover of the company is up to 50 crore rupees, then it is required to pay a tax of 25%.

If the turnover of the company crosses 50 crore rupees, then it is required to pay a tax of 30%.

Turnover Income Tax Rate
Below 50 crores 25%
Above 50 crores 30%

Apart from the traditional company income tax, a business is also required to file surcharge, education cess and other cess levied by government for welfare of society.

Income Tax Surcharge

Surcharge is additional tax levied over income of the company if its turnover crosses limit of 1 crore.

Turnover Surcharge
Below 1 crore Nil
Between 1 -10 crore 7%
More than 10 crore 12%

More Taxes levied over Company Income Tax

Tax Tax Rate
Education Cess 2%
Secondary and Higher Education Cess
Health Cess 4%

These are the complete company income tax rates for the registered business entity in India for fiscal year 2018-19. Get free consultancy and company tax filing assistance by filling details here.

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