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India plans t...

Question

India plans to reduce the corporate tax rate from 30% to ___ which is a good incentive for doing business in India.

A

20%

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B

15%

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C

25%

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D

5%

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Solution

The correct option is C
25%

India plans to reduce the corporate tax rate from 30% to 25 % which is a good incentive for doing business in India.

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Q. The taxes on the profits of companies and corporates having businesses in India are called as corporate tax. Even foreign companies are charged tax on the income they earn in India.

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Less than ₹50 crore	25%	40%
More than ₹50 crore	30%	40%

Identify the taxation system followed for the corporate tax.

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Case 2: In India, a part of the tax from salaried people is collected at the time they receive salary.

Identify the canons of taxation in the above two cases.

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