Hi
I've worked for MSME and large scales. My query is, do they both have same corporate taxation principles or do they differ during deferred taxation and current taxes?
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Classification of corporate tax vs income tax
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Quick Summary
The tax rates differ base on status of incorporation like firm, trust, AOP., or ltd company.
Rates do not differ on tags like MSME or large scale, but exemptions given under income tax for specific reasons or for employment generation or to specific area or criteria like SEZ , new or old regime etc. etc.
Corporate tax for MSMEs and large companies:
• All companies follow the same taxation principles (Income-tax Act). Rates differ: 25% for domestic companies with turnover up to Rs 400 crore; 30% above; 22% optional under 115BAA (no exemptions); 15% under 115BAB (new manufacturing, now closed). Surcharge: 7% (income Rs 1–10 crore), 12% (above Rs 10 crore), or 10% under 115BAA/BAB.
• MSME status gives specific benefits: 43B(h) protection (payments to MSEs), but no separate corporate tax rate.
• MAT applies to companies not under 115BAA/BAB.
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