Corporate Taxes Due 2024 In India. * where the case is referred to the transfer pricing officer, the timelines are extended by 12 months. Under section 115bab, newly established domestic manufacturing companies are subject to a reduced tax rate of only 15% on their total income.
The key features of the new corporate tax regime introduced in 2019 included: The corporate tax rate for existing domestic companies was reduced to 22%, subject to the condition that they do not avail any specified exemptions or incentives.
