Before I tell you what is corporate tax rate in India, let me explain the meaning of corporate in brief. It’s an entity that has an independent and separate legal entity from its shareholders. Foreign and domestic companies are required to pay corporate tax under the Income Tax Act.
Corporate tax is a type of direct tax levied on profits earned by businesspeople in a specific period of time. A foreign company is taxed on the income earned within India i.e. is being accrued or received in India while a domestic company is taxed on its universal income.
Domestic Company:It is one that is registered under the Companies Act of India and also includes the company registered in the foreign countries having management and control wholly located in India. A domestic company includes both public and private companies.
Foreign Company:It is one that is not registered under the Companies Act of India and has management and control situated outside India.
What is Corporate Tax Rate in India- Domestic Company
| Income | Rate of Tax | Subcharge | EC&SHEC [percent on (surcharge+tax)] |
Up to Rs. 10000000 |
30 percent |
Nil |
3 percent |
More than Rs. 10000000 but Less than Rs. 100000000 |
30 percent |
7 percent |
3 percent |
More than Rs. 100000000 |
30 percent |
12 percent |
3 percent |
The surcharge is levied on taxable income; subject to limited relief, i.e., income is more than Rs. 10000000.
Income tax rate is 29 percent if turnover for the Financial Year 2014-15 isn’t more than Rs. 50000000.
Foreign Company| Income | Rate of Tax | Surcharge* | EC&SHEC [percent on (surcharge+tax)] |
Up to Rs. 10000000 |
40 percent |
Nil |
3 percent |
More than Rs. 10000000 but Less than Rs. 100000000 |
40 percent |
2 percent |
3 percent |
More than Rs. 100000000 |
40 percent |
5 percent |
3% percent |
इससे पहले कि मैं आपको बताऊं कि भारत में कॉर्पोरेट टैक्स की दर क्या है, मैं संक्षेप में कॉर्पोरेट का अर्थ समझाता हूं। यह एक ऐसी इकाई है जिसकी अपने शेयरधारकों से एक स्वतंत्र और अलग कानूनी इकाई है। विदेशी और घरेलू कंपनियों को आयकर अधिनियम के तहत कॉर्पोरेट कर का भुगतान करना आवश्यक है।
कॉरपोरेट टैक्स एक प्रकार का प्रत्यक्ष कर है जो व्यवसायियों द्वारा एक विशिष्ट अवधि में अर्जित लाभ पर लगाया जाता है। एक विदेशी कंपनी पर भारत के भीतर अर्जित आय पर कर लगाया जाता है अर्थात भारत में अर्जित या प्राप्त किया जा रहा है जबकि एक घरेलू कंपनी पर उसकी सार्वभौमिक आय पर कर लगाया जाता है।
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What is corporate tax in India?
Pinku
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2022-03-15T15:47:32+00:00 2022-03-16T18:37:06+00:00Comment
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