Corporate Income Tax
For companies, income is taxed at a flat rate of 30% for Indian companies, with a 5% surcharge applied on the tax paid by companies with gross turnover over ₹1 crore (10 million). Foreign companies pay at the income tax at the rate of 40% plus 2% surcharge on the income tax payable. An education cess of 3% (on both the tax and the surcharge) are payable, yielding effective tax rates of 32.5% for domestic companies and 41.2% for foreign companies. From 2005-06, electronic filing of company returns is mandatory.
Read more about this topic: Income Tax In India
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