…ate tax is levied on the profits registered corporate firms. ~ Since a company is given a legal status, corporate tax is a direct tax. ~ At present (2010), the corporate tax rates are: ^ INDIAN FIRMS – 30% + 7.5% surcharge. ^ FOREIGN FIRMS – 40% + 2.5% surcharge. ~ In the year 2009-2010, Corporate Tax contributed to 40% of the Total Tax Revenue (Rs: 256725 crores). c) OTHER DIRECT TAXES: ~ The other direct taxes include expenditure tax, interest …
Filed under Tax Gift by on Mar 29th, 2011. Comment. 
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Filed under Books by on Aug 12th, 2009. 4 Comments.