RATE OF TAX FOR COMPANIES – First Schedule – Part I – Division II
Type of Company | Tax Year 2022 | ||
Rate of Tax | Super Tax u/s 4B | Super Tax u/s 4C | |
Small Company | 20% | NA | NA |
Banking Company | 35% | 4% | NA |
Other Company – Specified Sector | 29% | NA | 10% where income exceeds Rs. 300 million otherwise as per applicable slab |
Other Company
– Non-specified Sector |
29% | NA | 4% where income exceeds Rs. 300 million otherwise as per applicable slab |
Type of Company | Tax Year 2023 | ||
Rate of Tax | Super Tax u/s 4B | Super Tax u/s 4C | |
Small Company | 20% | NA | NA |
Banking Company | 39% | NA | 10% where income exceeds Rs. 300 million otherwise as per applicable slab |
Other Company – Specified Sector | 29% | NA | 4% where income exceeds Rs. 300 million otherwise as per applicable slab |
Other Company
– Non-specified Sector |
29% | NA | 4% where income exceeds Rs. 300 million otherwise as per applicable slab |