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Corporate Income Tax (India)

India levies Corporate Income Tax on the net profits of companies registered under the Companies Act 2013. The headline rate for domestic companies is 30%, but the effective rate for most companies is 22% under the concessional Section 115BAA regime (plus 10% surcharge and 4% cess = ~25.17%). New manufacturing companies incorporated after 1 October 2019 and commencing production before 31 March 2024 can opt for 15% under Section 115BAB (plus surcharge and cess = ~17.01%).

GST (Goods and Services Tax)

GST is India's unified indirect tax that replaced VAT, service tax, central excise and several other levies from 1 July 2017. It is a dual structure: Central GST (CGST) and State GST (SGST) apply to intra-state supplies; Integrated GST (IGST) applies to inter-state supplies and imports. The standard rate is 18%, with a luxury/demerit rate of 28%, and reduced rates of 12% and 5%. Basic food essentials attract 0%.

TDS (Tax Deducted at Source)

TDS is a mechanism under the Income Tax Act 1961 where the payer deducts tax at the time of making certain payments (salary, rent, professional fees, interest, contractor payments) and deposits it with the government on behalf of the payee. The deductor must have a TAN (Tax Deduction and Collection Account Number). TDS rates range from 1% to 30% depending on the payment type.

Advance Tax

Advance Tax requires businesses and individuals with tax liability above INR 10,000 in a financial year to pay tax in four instalments during the year — not in a lump sum at filing. The instalment due dates are 15 June (15%), 15 September (45%), 15 December (75%), and 15 March (100% of assessed tax for the year). Failure to pay results in interest under Sections 234B and 234C.

ITR-6 (Income Tax Return for Companies)

ITR-6 is the Income Tax Return form applicable to all companies registered under the Companies Act 2013 (and foreign companies) that do not claim exemption under Section 11 (religious/charitable trusts). It must be filed electronically by 31 October of the assessment year (30 November if the company has international/specified domestic transactions subject to transfer pricing audit). The return must be verified using Digital Signature Certificate (DSC) of a director.

ROC Compliance (Registrar of Companies)

ROC compliance refers to the annual and event-based filings required under the Companies Act 2013 with the Ministry of Corporate Affairs (MCA) via the MCA21 portal. Key annual filings include Form MGT-7 (Annual Return, within 60 days of AGM), Form AOC-4 (Financial Statements, within 30 days of AGM), and Form ADT-1 (Auditor Appointment). Non-compliance attracts additional fees and can lead to strike-off of the company.

Yes — rent paid for business premises (office, factory, warehouse) is fully deductible against corporate income tax under Section 37(1) of the Income Tax Act 1961, provided it is incurred wholly and exclusively for business purposes. TDS at 10% under Section 194I must be deducted if annual rent exceeds INR 2,40,000.

Yes — salaries, wages, bonus, and allowances paid to employees are fully deductible under Section 37(1) of the Income Tax Act. The employer must deduct TDS under Section 192 at applicable slab rates and comply with EPF (12% employer contribution) and ESIC obligations. Employer PF contributions are also deductible.

Yes — fees paid to accountants, lawyers, consultants, and other professionals are deductible under Section 37(1). TDS at 10% under Section 194J must be deducted if professional fees to a single payee exceed INR 30,000 in a year. Technical services fees attract 2% TDS (reduced rate from 1 April 2020 for technical services).

Yes for genuine business travel — air, rail, taxi, and hotel costs for client meetings, conferences, and business trips are deductible under Section 37(1). Personal travel mixed with business is only partially deductible in proportion to business use. International travel requires stronger documentation. No deduction for the personal portion.

Yes — annual software subscriptions and SaaS tools (accounting software, CRM, project management, cloud storage) are deductible as revenue expenses under Section 37(1). Perpetual software licences may be capitalised and depreciated at 40% under the IT Act. GST (18%) on software is creditable if you are GST-registered. TDS at 2% under Section 194J applies to royalty-type software payments above INR 30,000/year.

Yes — depreciation on tangible and intangible business assets is deductible under Section 32 of the Income Tax Act at prescribed rates using the Written-Down Value (WDV) method. The key rates are: computers/software 40%, general plant and machinery 15%, furniture 10%, vehicles 15-30%, buildings 5-10%. Assets bought after 3 October in the financial year get only 50% of the rate for that year.