Know corporate tax in a nutshell06:00:00 PM, Saturday 21st of September 2019 | in business
Corporate tax is a direct tax enforced on the company's total revenue by the Union Government. Accordingly, both public and private firms, recorded under the Companies Act 1956, are responsible for paying govt taxes. CT Rates in India Gross turnover up to Rs 250 Cr - 15% tax & Gross turnover more than Rs 250 Cr- 22% tax. The Minister of Union Finance reduced national corporate tax rates to 22% on Friday.