Income Tax Rate Private Limited Companies FY 2020-21
There are two types of investments in India company, one is of Normal India, which we called as Domestic Company and another forging company invests in it. All the companies have to file their returns on 30 September whether it is domestic or forging. The return has to be filed on 30th September. We have to pay tax according to our turnover up to 400 crores and more than 400 crores.
Domestic Company Turnover More Than Rs. 400 Crore
| INCOME SLAB | INCOME TAX RATE | SURCHARGE | HELTH & EDUCATION CESS | REBATE |
| UP TO 1 CRORE | 30% | NIL | 4% | NIL |
| ABOVE 1 CRORE UP TO 10 CRORE | (+)30% | 7% | 4% | NIL |
| ABOVE 10 CRORE | (+)30% | 12% | 4% | NIL |
Domestic Company Turnover Less Than 400 Crore
| INCOME SLAB | TAX RATE | SURCHARGES | HEALTH & EDUCATION CESS | REBATE |
| UP TO 1 CRORE | 25% | NIL | 4% | NIL |
| ABOVE 1 CRORE UP TO 10 CRORE | (+)25% | 7% | 4% | NIL |
| ABOVE 10 CRORE | (+)25% | 12% | 4% | NIL |
INCOME TAX RATE PRIVATE LIMITED COMPANIES FINANCIAL YEAR 2019-20
COMPANY TURN-OVER MORE THAN 400 CRORE
| INCOME SLAB | TAX RATE | SURCHARGE | HEALTH & EDUCATION CESS | REBATE |
| UP TO 1 CRORE | 30% | NIL | 4% | NIL |
| ABOVE 1 CRORE UP TO 10 CRORE | (+)30% | 7% | 4% | NIL |
| ABOVE 10 CRORE | (+)30% | 12% | 4% | NIL |
COMPANY TURN-OVER UP TO 400 CRORE
| INCOME SLAB | TAX RATE | SURCHARGE | HEALTH & EDUCATION CESS | REBATE |
| UP TO 1 CRORE | 25% | NIL | 4% | NIL |
| ABOVE 1 CRORE UP TO CRORE | 25% | 7% | 4% | NIL |
| ABOVE 10 CRORE | 25% | 12% | 4% | NIL |
INCOME TAX RATE PRIVATE LIMITED COMPANIES FINANCIAL YEAR 2018-19
COMPANY TURN-OVER MORE THAN 400 CRORE
| INCOME SLAB | TAX RATE | SURCHARGE | HEALTH & EDUCATION CESS | REBATE |
| UP TP 1 CRORE | 30% | NIL | 4% | NIL |
| ABOVE 1 CRORE UP TO 10 CRORE | 30% | 7% | 4% | NIL |
| ABOVE 10 CRORE | 30% | 12% | 4% | NIL |
COMPANY TURN-OVER LESS THAN 400 CRORE
| INCOME SLABE | TAX RATE | SURCHARGE | HEALTH & EDUCATION CESS | REBATE |
| UP TO 1 CRORE | 25% | NIL | 4% | NIL |
| ABOVE 1 CRORE-UP TO 10 CRORE | 25% | 7% | 4% | NIL |
| ABOVE 10 CRORE | 25% | 12% | 4% | NIL |
Knowing the tax rate is important, but companies also need to focus on tax planning throughout the financial year. Many businesses face higher tax payments because they do not plan expenses, investments, and eligible deductions properly in advance. Adding practical guidance on how private limited companies can organize their financial decisions before year-end would make the topic more useful for business owners.