π’ Taxation for Private Limited Companies in India β Key Rules & Rates πΌπ Β by Return Filings Via Flickr:
Understanding corporate taxation is crucial for compliance and strategic tax planning.
β Corporate Tax Rates
25% β Domestic companies with turnover β€ βΉ400 crore
30% β Other companies (Surcharge & cess apply as per slabs)
π Minimum Alternate Tax (MAT)
15% on book profits (Sec. 115JB) if exemptions/deductions reduce taxable income.
MAT credit carry forward: 15 years
π‘ Available Tax Deductions & Exemptions
Sec. 80JJAA β Employment generation benefits.
Sec. 35 β R&D expenditure.
Sec. 10AA β SEZ incentives.
Sec. 80-IAC β 3-year tax holiday for DPIIT-registered startups
π Compliance Essentials
Advance Tax: Quarterly installments if liability > βΉ10,000/year
TDS: Deduct & deposit on salaries, professional fees, contractor payments.
ITR Filing: Use Form ITR-6 by Oct 31 (if audit required).
Tax audit mandatory if turnover > βΉ1 crore, plus transfer pricing compliance for cross-border deals
π Pro Tip: Keep records organized, pay taxes on time, and leverage deductions to reduce overall corporate tax burden.
π· View detailed post on Flickr: Flickr Link π² See Instagram version: Instagram Link
