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Jan 16, 2024 · Companies can raise funds from VCs and angel investors. A company can obtain direct FDI. Taxation. LLP is taxed at 30% up to an income of 1 crore and a 12% surcharge if the total income exceeds 1 crore. Companies must pay tax at 25% if turnover is up to 400 crores otherwise 30% is applicable.
Also Read: Income Tax in India: Basics, Slabs and E-filing Process 2023. Income Tax Rates in India for FY 2023-24 (AY 2024-25) Finance Minister Nirmala Sitharaman introduced the new income tax slab rates under the new tax regime in the 2023 budget. Tax rates are significantly different from previous years for the benefit of the masses.
Jul 24, 2019 · Income Tax Rate of LLP as applicable for the Assessment Year 2020-2021. The LLP is liable to pay income tax @30% on its income. In case the total income exceeds INR 1 Crore, LLP is also liable to pay surcharge @12% on the income tax. Additionally, health and education cess of 4% is payable on the income tax plus surcharge.
Feb 22, 2020 · Income Tax Rate for AY 2020-21 (FY 2019-20) are as under: 1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person. Surcharge: 10% of income tax, where total income exceeds INR 50 lakh up to INR 1 crore. 15% of income tax, where the total income exceeds ...
LLP is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a Partnership. Income Tax Rate for LLP FY 2019-20 AY 2020-19 is 30%. Under Income Tax Act 1961 separate Tax rate is given for LLP. On addition to this tax rate there is Health & Education Cess on LLP.
Dec 13, 2023 · 15%. ₹12,00,000 – ₹15,00,000. 20%. More than ₹15,00,000. 30%. The tax slabs and rates are the same for all individuals and HUFs under the new regime. This means that people up to 60 years, senior citizens (60-80 years), and super senior citizens above 80 years are subject to the same income tax slabs.
Feb 9, 2024 · From Assessment Year 2023-24, the rate of AMT is reduced from 18.5% to 15% in case of co-operative society. AMT is a tax levied on ‘adjusted total income’ in a FY wherein tax on normal income is lower than AMT on Adjusted total income. So, irrespective of normal tax, AMT has to be paid by taxpayers to whom AMT provisions apply.
