The conversation between human and AI assistant.
How is income tax calculated in Mumbai?
Yes, it does. Are the tax slab rates the same for corporations?
No, the tax slab rates for corporations are different. The current tax rate for domestic companies is 25% and for foreign companies, it is 40%. Additionally, for small and medium enterprises there is a lower tax rate of 25%. Is there anything else that you would like to know about income tax in Mumbai?