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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%