Companies – Rate of Income Tax / Corporate Tax

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..... l income, if the total turnover or gross receipts of the previous year 2021-22 does not exceed four hundred crore rupees and where the companies continue in section 115BA regime. In all other cases the rate of income-tax shall be 30% of the total income. However, domestic companies also have an option to opt for taxation under section 115BAA or section 115BAB of the Act on fulfillment of condition .....

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..... s, the existing surcharge of 2% shall continue to be levied, if the total income exceeds one crore rupees but does not exceed ten crore rupees. Surcharge at the rate of 5% shall continue to be levied, if the total income of the company other than domestic company exceeds ten crore rupees. 5. Marginal relief is provided in surcharge in all cases. 6. In other cases [including sub-section (2A) .....

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