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At what rate firms are required to pay tax on their income?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

Hi I want to know, At what rate firms are required to pay tax on their income?

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5 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Income Tax is paid at 30% of taxable income. Surcharge is charged at 10% of the Income Tax, where taxable income is more than Rs. 1 crore

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Tax is paid at 30% of taxable income. Surcharge is charged at 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable) and Education Cess is 3% of the total of Income Tax and Surcharge.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

> Income tax rate for Firms --Income Tax rate is at 30% of taxable income. -- Surcharge is charged at 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable). -- Education Cess is 3% of the total of Income Tax and Surcharge. --A partnership firm for the purpose of income tax means a partnership firm includes a limited liability partnership firm.

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Open uri20170510 32134 1c996lj?1494421732 answered

Income Tax Rates on Partnership Firm for A.Y. 2015-16 Income Tax Rate Surcharge Education Cess 30% on whole of the income 10% surcharge will be applicable where total taxalbe income is over Rs.1 Crore. 3% (2% of income tax and Additional Secondary & Higher Education Cess @ 1% is also levied on all assessees. Income Tax Rates on Partnership Firm for A.Y. 2014-15 Income Tax Rate Surcharge Education Cess 30% 10% surcharge will be applicable where total taxalbe income is over Rs.1 Crore. 3% A partnership firm for the purpose of income tax means a partnership firm includes a limited liability partnership firm.

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Open uri20170510 32134 s5bvk0?1494421637 answered

Dear Friend, as far as your query is concerned that At what rate firms are required to pay tax on their income? Let me informed that Income Tax is paid at 30% of taxable income. Surcharge is charged at 10% of the Income Tax, where taxable income is more than Rs. 1 crore. (Marginal Relief in Surcharge, if applicable) and Education Cess is 3% of the total of Income Tax and Surcharge. Hope answer was helpful to you Regards, Arjun Pratap Singh

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