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May 31, 1993 · GM CORPORATE CONSULTANTS INDIA LIMITED's Corporate Identification Number (CIN) is U74140DL1993PLC053852. You can contact them by sending an email to corporateoffice105@gmail.com or visit them at their registered address FLATE NO.11/5-B, PARAM TOWER PUSHA ROAD DELHI Central Delhi DL IN 110005.
- What Is Corporate Tax in India?
- How Is Corporate Tax in India Different from Income Tax of Individuals?
- Corporate Rate of Taxes in India
- Corporate Tax Rate For Foreign Companies in India
- Benefits of ITR Filing For Corporates in India
Corporate income tax (CIT) is a type of income tax. Both domestic and foreign corporations pay taxes on their earnings in India. The CIT is set at a specific rate set by the income tax law, which is subject to annual rate changes in the union budget.
Personal income tax is a type of income tax that individuals pay. Individuals are taxed at varying rates depending on their tax level. As a result, Eligible individuals have to do ITR Filing. Therefore, the income generated by a corporation is different from an individual’s income.
Corporate Tax Rate in India for domestic companies depends upon the income of the corporate. As per the 2021-22 rates, the corporate tax is as follows. 1. Income Range of Up to 400 crore rupees gross turnover will have a taxation rate of 25 per cent. 2. On the other hand, the Income range of Gross turnover exceeding 400 crore rupees will have a tax...
The Corporate Tax rate for foreign companies in India also depends upon the nature of income. For example, Royalty of fees is obtained for technical services from the government or an Indian concern, approved by the Central Government then the tax rate is 50 per cent. 1. However, other types of income attract only 40 per cent of Corporate Tax. 2. L...
Now that we know all about Corporate Tax in India. Let us now look at the benefits of ITR filing or paying tax by Corporates in India. It is important to note that there are uncountable advantages of Income Tax Return (ITR) filing. Some of the most significant are as follows.
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Sep 19, 2022 · Section 139 (1) of the Act requires every company to furnish a return of its income for the previous year. Section 2 (17) of the Act defines a ‘company’ to mean ‘any body corporate incorporated by or under the laws of a country outside India’, amongst others. Thus, under the Act, a company includes a foreign company.
Aug 29, 2022 · Regarding the taxation of foreign subsidiaries in India, there are a few important considerations. First, the corporate tax rate that is often applied to foreign-owned businesses in India is 40%. This tax is levied on the income of international enterprises. However, in a few exceptional circumstances, this rate might be decreased.
Feb 15, 2024 · The MAT is applicable to any company if the tax payable under normal tax provisions is less than 15% of the book profit. The minimum alternate tax is payable at a rate of 15% of book profit along with surcharge and cess. There is no change in the applicability of surcharge and cess due to the applicability of MAT.
Tax Rates for AY 2021-22. Total turnover of up to ₹ 400 crores in the fiscal year 2018-2019. 25%. Total turnover of ₹ 400 crores for the fiscal year 2019-2020. NA. If opted under Section 115BA. 25%. If opted under Section 115BAA. 22%.
Jan 9, 2023 · For financial years April 2020-March 2021 and April 2021-March 2022, the corporate tax rates applicable for domestic companies are as follows: Total turnover or gross receipts during the financial year 2019-2020 of up to INR 4 billion. 25%. All other domestic companies. 30%.
