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ARTICLE · 11 FEBRUARY 2025

Budget 2025 | Direct Tax Proposals

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The Finance Bill, 2025 (Bill) has not proposed any change in the tax rates for companies and firms under the Income-tax Act, 1961 (IT Act).

IndiaTax
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Tax Rates Relief for Non-Corporates

RATES FOR COMPANIES AND FIRMS

The Finance Bill, 2025 (Bill) has not proposed any change in the tax rates for companies and firms under the Income-tax Act, 1961 (IT Act). The base tax rates are listed below for ready reference:

  • Domestic companies: 15% / 22% / 25% / 30%, depending on factors such as nature of business, commencement of operations, turnover thresholds, optional concessional tax regime, etc.
  • Foreign companies: 35%
  • Partnerships and LLPs: 30%

Applicable surcharge on base rates and 4% cess on the aggregate of tax and surcharge, too, remain unchanged for these entities.

RATES FOR INDIVIDUALS AND OTHER NON-CORPORATE ENTITIES

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