Paying Taxes in Bhubaneshwar, India


This table summarizes the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Bhubaneshwar.
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Tax or mandatory contributionPayments (number)Notes on PaymentsTime (hours)Statutory tax rateTax baseTotal tax rate (% profit)Notes on TTR
Central sales tax12 1444%, as of Apr 2007: 3%purchase price23 
Corporate income tax1online filing4730.00%taxable profits20.1 
Social security contributions12 9612.00%gross salaries13.5 
Employee's state insurance contribution12 -4.75%gross salaries4.6 
Dividend tax1 -14.00%dividend distributions3.5 
Stamp duty0 -5% stamp duty + 2% of stamp duty as registration feetransaction value3.1not included
Property tax1 -17.50%assessed value1.3 
Income surcharge0paid jointly-10.00%on all federal taxes1included in other taxes
Vehicle tax (pollution tax)1 -INR 12,000per vehicle in use0.6 
Fuel tax1 -6% + INR 3.25 per literfuel consumption0.5 
Environment tax1 -INR 6,000hazardous waste produced0.3 
Fringe benefit tax4 -30.00%value of specified corporate expenses (usually 20%)0.3 
Tax on insurance contracts1online filing-12.00%insurance premium0.3 
State business tax1 -INR 2500fixed fee0.1 
State employee tax1 -INR 30 per monthper manager0.1not included
Education fees0paid jointly-2.00%all federal taxes including the surcharge0included in other taxes
Secondary & Higher education fees0paid jointly-1.00%all federal taxes including the surcharge0included in other taxes
Land tax1 -INR 74.40fixed fee0 
State VAT12 -12.50%value added0not included
CENVAT (excise duty)1online filing-16.48%value added0included in other taxes
Tax on interest0withheld-20.00%interest income0not included
Totals:63 287  68.2 


Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.