India

India is the 7^th largest country and the 2^nd most populated country in the world. It has land borders with Pakistan, Bhuta, China, Nepal, Bangladesh and Myanmar. Its coastline runs along the Indian Ocean, the Arabian Sea and the Bay of Bengal. India has 28 states, with eight union territories. Its capital is New Delhi and its official languages are Hindi and English, with the Indian rupee (INR) as its currency.

India gained independence from British rule in 1947, which began in 1757 after the Battle of Plassey. From then, the English East India Company exercised control over the country for the next 100 years until it was replaced by direct British rule after the Indian Mutiny of 1857-58.

Now, after the decades since its independence, India is self-sufficient for food, which it is a net exporter for. India’s citizens now have a life expectancy double what it was before independence, general health has improved, and the middle class has grown significantly. Globally renowned companies in the pharmaceutical, automobile, steel and information and space technologies now find their homes in India. 

Our local Tax Natives in India can tell you everything you need to know about the ins and outs of your tax obligations there. Whether you’re buying a single property, or doing complex business deals, we’ll get you the advice you need. Just say the word and we can link you with a local expert who can answer all your questions. 

THE HEADLINES

• The corporate income tax rate for domestic companies ranges from between 15% and 30% depending on turnover or total income (with additional surcharges applicable of between 7% and 12%). For foreign companies, the tax rate is 40% with surcharges ranging from 2% to 5%. An additional health and education cess of 4% also applies
• The rate of personal income tax in India is around 43%
• The VAT rate ranges between 5% and 28% depending on the types of goods and services, with the general rate being 18%