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% |