Income Tax Rates For Domestic Companies
(1) Domestic companies are taxable at 30%
(2) Special method for computation of total income of insurance
companies.
The rate
of tax on profits from life insurance business is 12.5%.
(3) A 5% surcharge is applicable if the total income exceeds
Rs. 10,000,000 but does not exceed Rs. 100,000,000. Marginal relief available
(4) A 10% surcharge is applicable if the total income exceeds
Rs. 100,000,000. Marginal relief available
(5) A 3 % education cess is applicable on income-tax (inclusive
of surcharge, if any).
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