A domestic company whose turnover for the previous year 2015-2016 ₹ 420 Crore; for previous year 2016-2017 ₹ 80 Crore and for previous year 2017-2018 ₹ 120 Crore. Its total income (computed) for the assessment year 2020-2021 is ₹ 30 Crores. The rate of income tax applicable for such company (without cess) would be:
A. 30%
B. 40%
C. 29%
D. 25%
Answer:D
A domestic company whose turnover for the previous year 2015-2016 ₹ 420 Crore; for previous year 2016-2017 ₹ 80 Crore and for previous year 2017-2018 ₹ 120 Crore. Its total income (computed) for the assessment year 2020-2021 is ₹ 30 Crores. The rate of income tax applicable for such company (without cess) would be:
A. 30% B. 40% C. 29% D. 25%