Who pays income tax in India
Taxation in India
For dividends paid by a domestic company, the recipient is exempt from tax if the issuer pays dividends distribution tax (DDT).
Specific deductions are made for varying amounts of interest payments on funds raised for business objectives, internal R&D expenses, investment-related expenses, business losses, royalties and fees, and more.
Any donations made by a company to charity are eligible as tax-deductible expenses under certain conditions. The tax deductibility is between 50% and 100% of the charitable contribution, depending on the type of charity.
Companies in India enjoy many tax deductions for special business activities, for example:
- A ten-year tax exemption on 100% of the income from the development, operation or maintenance of infrastructure, energy supply or distribution networks and systems.
- A seven-year tax exemption on 100% of the income from certain conditions of unsuccessful oil and gas production
- a ten-year tax exemption on 100% of the income from the development of a Special Economic Zone (SEZ)
- A five-year tax exemption on 100% of the income from the operation and maintenance of hospitals in rural areas
- A three-year tax exemption on 100% of the profits of companies founded after March 31, 2016 in the first seven years of their existence.
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