What is corporate tax in India? Know benefits, rates and more

Corporate tax, also known as corporation tax or company tax, is a direct tax imposed on the income or capital of corporations and similar legal entities.

Corporations are incentivized to maintain accurate financial records to fulfill tax obligations.
 

Revenue generated from corporate taxes helps stabilize the economy by funding government programs.
 

Corporations contribute to society based on their profits, ensuring a fair distribution of the tax burden.
 

Properly enforced corporate taxes discourage tax evasion and promote transparency.

Corporate tax revenue can be used to invest in social welfare programs, benefiting society as a whole.