ITR of company or Business: On or before 30th September of the financial year, all companies registered under the companies Law are required to file their income tax returns on the net profit that it makes from businesses. Domestic and Foreign company are two categories of companies under Income tax Act. ITR Process: Annexure 1: Checklist: Annexure 2: Income tax slabs: Domestic companies are to be taxed at the rate of 30%. However, tax rate will be 25% if turnover of gross receipt of the company does not exceed Rs 250 crores. Plus: Surcharge 7% of tax where total income exceeds Rs 1 crore. 12% of tax where total income exceeds Rs 10 Crore. Health & Education cess: 4% of tax plus surcharge. The following rates are applicable to foreign companies for AY 2019-20 based on their turnover: Nature of Income Tax Rate Royalty received or fees for technical services from government or any Indian concern under an agreement made before April 1, 1976 and approved by central government 50% Any other income 40% Minimum Alternate Tax ( MAT): Alternatively, all the companies including foreign companies are required to pay minimum alternate tax at the rate of 18.5% on book profits if the tax calculated as per above rates are less than 18.5% of book profits. Dividend Distribution tax ( DDT): Companies are required to pay tax on the dividend distributed to the shareholders in a particular year. This dividend is exempted in the hands of shareholders up to an amount of Rs 10 lakhs but the companies have to pay tax @ 20.56%.ITR/Income tax return filing