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What may be the rate? In the rate or rates enacted by Central Act almost every Assessment Year. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable to the tax payer.

Another angle to consider: suppose your small takes a loss of revenue for 12 months. As a C Corp presently there no tax on the loss, however there additionally be no flow-through to the shareholders would seem an S Corp. The loss will not help your own tax return at everyone. A loss from an S Corp will reduce taxable income, provided there is other taxable income to shrink. If not, then is actually no income tax due.

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