Corporate Tax
Every company operating in India pays tax on its profits under the Income Tax Act, with different rules for domestic and foreign companies. We compute it correctly, file on time, and keep the position defensible.
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Tax on company profits, domestic and foreign
Corporate tax is the direct tax the Income Tax Act, 1961 levies on a company’s net profit. Domestic companies — those incorporated under India’s Companies Act — are taxed on their worldwide income. Foreign companies operating in India are taxed only on the income they source from within the country.
The applicable rate depends on turnover, the sector, and which tax regime and incentives the company chooses to avail — and the rates, surcharge and cess that sit on top of them are set through the annual Finance Act and can change every year. We work off the current year’s rates rather than quoting a fixed figure that could be out of date by the time you read this.
- Whether it’s a domestic or foreign company
- Which tax regime it opts into, where a choice is available
- Turnover and the surcharge slab that applies as a result
- Adjustments the Income Tax Act requires to reported profit before tax is computed
- Deductions and depreciation the company is eligible to claim
Companies that need their tax position right
Correct as complexity increases
Businesses that need their tax position computed correctly as turnover and complexity grow.
Taxed on India-sourced income
Entities with an Indian presence, taxed only on what they source here, needing local expertise.
Section 44AB applies
Businesses whose turnover, receipts or profit trigger a mandatory tax audit.
Computation to filing and audit
Taxable income computation
Net profit adjusted per the Income Tax Act to arrive at taxable income.
Regime and rate selection
Working out which tax regime and applicable rate suits the company for the year.
Advance tax and provisioning
Quarterly estimates so there are no surprises at year-end.
Return filing
The correct ITR form prepared and filed for your entity type.
Tax audit coordination
Where Section 44AB applies, working with your auditor and tracking the filing.
Deduction and MAT planning
Identifying eligible deductions, depreciation and Minimum Alternate Tax credit.
Four steps to a filed return
We compute taxable income
Net profit adjusted per the Act’s provisions.
We determine the rate and regime
Current-year rates applied based on your structure and choices.
We manage advance tax
Quarterly estimates kept current through the year.
We file, and coordinate the audit where needed
Return and tax audit report submitted on schedule.
Questions companies ask first.
Are domestic and foreign companies taxed the same way?
No. Domestic companies are taxed on their worldwide income; foreign companies are taxed only on income sourced from within India, and the rate structures differ between the two.
Does every company need a tax audit?
Not every company — it depends on turnover, receipts and profit thresholds set under Section 44AB of the Income Tax Act. We check whether your company is over the current threshold each year.
Can a company change its tax regime later?
Depending on the regime and the company’s structure, the choice may be locked in once made or open to revisit in later years. We review this as part of your annual tax planning rather than leaving it on autopilot.
Tell us what you need.
A short call to understand where you stand and how we would run this for you. No obligation.
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