Corporate tax is the income tax that is paid by companies from the revenue they earn. This tax also comes with a slab of its own that decides how much tax the company has to pay. For example a domestic company, which has revenue of less than Rs. 1 crore per annum, won’t have to pay this tax but one that has a revenue of more than Rs. 1 crore per annum will have to pay this tax.
It is also referred to as a surcharge and is different for different revenue brackets. It is also different for international companies where the corporate tax may be 41.2% if the company has revenue of less than Rs. 10 million and so on.
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