Domestic companies are subject to income tax on all sources of income and capital gains wherever arising. Foreign companies are subject to income tax only on their income from Indian Sources. Company tax is levied as follows: Rates Domestic companies 33.22% Foreign companies 42.23% Note: Where the total income of the domestic or foreign company […]
Corporate Taxes
Implications of Corporate Restructuring on Taxes for a Company in India – MERGER Specific provisions have been made in the Income Tax Act 1961 (the Act) in relation to corporate merger/ amalgamations. Corporate restructuring is tax neutral subject to the fulfilment of certain conditions. DEMERGER Under the Act, ‘demerger’ means any transfer by a demerged […]
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In India, a tax holiday is available in respect of profits derived from exports by a 100% export oriented undertaking, or an undertaking located in a free trade zone, export processing zone, special economic zone, software technology park, etc. The tax holiday is available in respect of profits derived by non-SEZ units up to Assessment […]