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Income Tax Rates & Surcharge

Income Tax Rates & Surcharge

Income Tax Rates

In the case of a company other than domestic company

(1) On so much of the total income as consist of:

(a) Royalties received from government or an Indian concern in pursuance of an agreement made by it with the government for the Indian concern after the 31st day March, 1961 but before the 1st day of April, 1976; 0r

(b) Fees for rendering technical services received from Government or an Indian concern in pursuance of an agreement made by it with the government or the Indian concern after 29th day February, 1964 but before the 1st day of April, 1976, and where such agreement has, in either case been approved by the central Government – 50%

Income Tax Surcharge

In case of a Domestic company having income exceeding Rs 1 crore – 10% of the income tax. In case of every company other than a Domestic company having a total income exceeding Rs 1Cr, at 2.5%; Provided that in case of every company having a total income exceeding Rs 1Cr, the total amount payable as Income Tax and surcharge on such income shall not exceed the total amount payable as income tax on the total income of Rs 1 Cr by more than the amount of income that exceeds Rs 1cr