Tax Jobs in Pune

Market context

Direct Tax in Pune, as in the rest of India, primarily deals with taxes levied directly on income or profits of individuals and corporations. This includes Corporate Income Tax for businesses and Personal Income Tax for individuals, along with associated compliance and advisory services.

Corporate tax in India is governed by the Income Tax Act, 1961. The current corporate tax rate for domestic companies is typically 30%, with lower rates (22% for companies opting for Section 115BAA, and 15% for new manufacturing companies opting for Section 115BAB) applicable under certain conditions. Companies in Pune are required to file Income Tax Returns (ITR-6 for companies) annually, with due dates varying based on audit requirements. The tax administration is managed by the Central Board of Direct Taxes (CBDT) under the Ministry of Finance.

Regulatory timeline

• 2020-08-13Faceless Assessment SchemeOngoing
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• 2019-09-20Introduction of Section 115BAA and 115BAB for lower corporate tax ratesOngoing
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Skills & tools