what are the different tax slabs for a company in India?
In India, the tax slab for companies is based on their annual income and the tax rate is set by the government each financial year. The current tax slab for companies for the financial year 2022-2023 is as follows:
For companies with an annual turnover of up to Rs. 2 Crore, the tax rate is 25%
For companies with an annual turnover of more than Rs. 2 Crore but less than Rs. 5 Crore, the tax rate is 30%
For companies with an annual turnover of more than Rs. 5 Crore, the tax rate is 35%
It's important to note that, the above tax slab is for companies and not for LLP or Individuals. Also, there are some other taxes like minimum alternate tax (MAT) which is applicable on companies. It's advisable to seek professional guidance to ensure compliance with all the laws and regulations.
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