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Practical Income Tax
Important Changes in Income Tax 2019 -20

Corporate tax rate at 22% without exemption.

Corporate tax rate to be 22% without exemptions.

Effective corporate tax rate after surcharge to be 25.17%


Domestic companies exempt from MAT.

No Minimum Alternate Tax (MAT) applicable on such domestic companies.


15% Tax for manufacturing companies set up after October 2019.

To attract investment in manufacturing, companies incorporated after October 2019 will pay tax at 15%.


Minimum Alternate Tax (MAT) slashed to 15% from 18.5%.

Minimum Alternate Tax (MAT) slashed to 15% from 18.5% for companies availing exemptions.


No enhanced surcharge.

In order to establish the flow of fund in capital market no enhanced surcharge on sale of securities.

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.