Question

Do business pay tax on revenue or profit?

Answer 1

Answer:

A domestic corporate entity with a turnover upto Rs. 250 Crore, pays a flat rate of 25% corporate tax. For a particular financial year, if the total revenue earned by a company exceeds Rs. 1 crore, then a surcharge corporate tax of 5% is levied on such a corporation.26-Apr-2021

Type of Company: New Corporation Tax Rate

New Manufacturing Companies: 15% (earlier ...

Explanation: