Economics · Taxation
ABC Ltd., a domestic company that has not opted for any special concessional tax regimes under section 115BAA or 115BAB, details for AY 2022-23: Profits before tax: ₹1,20,00,000 Exemption under Section 10(1) for agricultural income: ₹10,00,000 Assuming its total turnover in FY 2019-20 exceeded ₹400 crore, compute the total tax payable (including surcharge at 7% and health and education cess at 4%).
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹33,00,000
- 2₹37,75,200✓
- 3₹24,20,000
- 4₹16,50,000
Correct answer
₹37,75,200
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