Tax Rates in India (2026): Income Tax, Corporate Tax & VAT
Headline tax rates that matter when you buy, rent out or hold property through a company in India, with their history and a comparison with Southern Asia.
- Top personal income tax rate
- 42.7%
- 2024
- Corporate income tax rate
- 34.9%
- 2024
- VAT / sales tax (standard rate)
- 18.0%
- 2024
Tax rate history in India
Current headline rates
| Indicator | Value | Year | Change | Source |
|---|---|---|---|---|
| Top personal income tax rateHighest statutory marginal rate on personal income | 42.7% | 2024 | ±0.0 pp vs 2023 | Trading Economics |
| Corporate income tax rateHeadline statutory corporate income tax rate | 34.9% | 2024 | ±0.0 pp vs 2023 | Trading Economics |
| VAT / sales tax (standard rate)Standard value-added or sales tax rate | 18.0% | 2024 | ±0.0 pp vs 2023 | Trading Economics |
| Year | Top personal income tax rate | Corporate income tax rate | VAT / sales tax (standard rate) |
|---|---|---|---|
| 2024 | 42.7% | 34.9% | 18.0% |
| 2023 | 42.7% | 34.9% | 18.0% |
| 2022 | 42.7% | 34.9% | 18.0% |
| 2021 | 42.7% | 25.2% | 18.0% |
| 2020 | 42.7% | 25.2% | 18.0% |
| 2019 | 35.9% | 25.2% | 18.0% |
| 2018 | 35.9% | 34.6% | 18.0% |
| 2017 | 35.5% | 34.6% | 18.0% |
| 2016 | 35.5% | 34.6% | 15.0% |
| 2015 | 34.0% | 34.6% | 14.5% |
Property-specific taxes (transfer tax or stamp duty, annual property tax, capital gains on sale and withholding on rent paid to non-residents) vary by region and buyer status and are not included in these headline figures — see the India buying guide.
India vs Southern Asia: tax comparison
| Country | Top personal income tax rate | Corporate income tax rate | VAT / sales tax (standard rate) |
|---|---|---|---|
| India | 42.7% | 34.9% | 18.0% |
| Bangladesh | 30.0% | 27.5% | 15.0% |
| Iran | — | — | 9.0% |
| Nepal | — | — | 13.0% |
| Pakistan | 35.0% | 29.0% | 18.0% |
| Sri Lanka | 18.0% | 30.0% | 18.0% |
Related
Earlier years: Trading Economics. Rates are statutory headline rates; surcharges, regional taxes and special regimes may apply.