What Are the Income Tax Rates for 2018?
This is useful if you want to know $250k a years is how much an hour (Answer is $129.07, assuming you work roughly 40 hours per week) or you may want to know how much $250k a year is per month after taxes (Answer is $14,989.14 in this example, remember you can edit these figures to produce your own detailed tax calculation)
What is the income tax rate for 2019-20?
For the assessment year 2019-20, a domestic company is taxable at 30%. However, the tax rate would be 25% if turnover or gross receipt of the company does not exceed Rs. 250 crore in the previous year 2016-17.
What is the tax rate for 2017-18 tax year?
For Assessment Year 2017-18, tax rate would be 29% where turnover or gross receipt of the company does not exceed Rs. 5 crore in the previous year 2014-15.However, for Assessment year 2018-19, tax rate would be 25% where turnover or gross receipt of the company does not exceed Rs. 50 crore in the previous year 2015-16.
