Indian Company Master Data Made Simple

Income Tax

3 min read

Quick Summary

Income Tax is governed by the Income Tax Act, 1961 and is administered by CBDT.

Companies are taxed at 25% (turnover ≤ ₹400 crore) or 30%. New manufacturing companies can opt for 15% rate (without exemptions). MAT at 15% applies if book profits are higher than taxable profits.

Key Points

  • Direct tax on income
  • Governed by IT Act 1961
  • Corporate tax: 25%/30%
  • New manufacturing: 15%
  • MAT at 15%