Corporate Income Tax Rates for AY 2012-13



On this page:

Corporate Tax Rates for Firms, Companies and Local Authorities

Entity Type Rates Surcharge Education Cess Secondary Education Cess
Firms 30% Nil 2% of Income Tax 1% of Income Tax
Domestic Companies 30% 5%** 2% of Income Tax and Surcharge 1% of Income Tax and Surcharge
Foreign Companies 40%* 2%** 2% of Income Tax and Surcharge 1% of Income Tax and Surcharge
Local Authorities 30% Nil 2% of Income Tax 1% of Income Tax

Note:

* The tax rate is 50%

  • For Royalty Income received under agreement approved by Central Government (between 01.04.1961 and 31.03.1976) and

  • Fees for Technical Services received under agreement approved by Central Government (between 01.03.1964 and 31.03.1976).

** Applicable only if the Total Income of the Firm or Domestic Company exceeds Rs.1 Crore.

Marginal relief is available while computing surcharge, which is given hereunder: -

Tax on Total Income (including Surcharge but excluding Education cess) xxx
Less:
Tax on Total Income of Rs.1,00,00,000 xxx
Total Income minus Rs.1,00,00,000 xxx
---
xxx
---
Marginal Relief (if positive) xxx
---

Top

Corporate Tax Rates for Co-operative societies

Co-operative societies has different tax slabs and rates.

Net Income Range Tax Rate Surcharge Education Cess Secondary Educatrion
Up to Rs10,000 10% Nil 2% of Income Tax 1% of Income Tax
Rs10,000 - Rs20000 20% Nil 2% of Income Tax 1% of Income Tax
Above Rs20000 30% Nil 2% of Income Tax 1% of Income Tax

Top


These are the Normal Corporate tax rates for the AY 2012-13.

Top

Top

New! Comments

Have your say about what you just read! Do you want us to add any other information related to this topic? Let us know.

submit to reddit

Protected by Copyscape Duplicate Content Detection Tool

Free Newsletter

Our Monthly newsletter ‘Online Tax Consultant’ is the ideal way to make sure you miss nothing in the world of Taxation in India.

Email

Name

Then

Income Tax Questions
Have Questions on Tax?

Salary Income Tax
Salary Taxation

House Property Tax
House Property

Capital Gains Income Tax
Capital Gains

Business Income Tax
Business Tax

Corporate Tax
Corporate Tax

Other Sources Income Tax
Other Sources