Company – Income tax rates for the financial year 2022-23/assessment year 2023-24
| Tax Rates for Company | |
| Domestic Company opting for Section 115BAB | AY 2023-24 |
| Income from manufacture or production of article or thing | 15% |
| Income from non-manufacturing activities (if no specific rate is prescribed | 22% |
| Short term capital gains (from transfer of depreciable assets) | 15% |
| Short term capital gains (from transfer of non-depreciable assets) | 22% |
| Excess profit added by the Assessing officer under section 115BAB(6) owning to close connection between company and other person | 30% |
| Special income under Chapter XII | As prescribed |
| Other Domestic Company | AY 2023-24 |
| Total turnover or gross receipt during the previous year 2020-21 does not exceed Rs. 400 crore | 25% |
| Company opted for Section 115BA | 25% |
| Company opted for Section 115BAA | 22% |
| Any other domestic company | 30% |
| Foreign Company | |
| Foreign Company | 40% |
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