Direct tax comprises corporation tax (tax on corporate profits), personal income tax, wealth tax and gift tax. For Domestic Companies, as of 20 Sep- 2019 , the tax rate shall be flat . For new companies incorporated after 01-Oct-2019 and commencing production before 31 -Mar- the tax rate is However, these rates are applicable only if the companies don't claim any exemptions or concessions. For Foreign companies, the tax rate shall be in India for normal income. However, specifically in case of Royalty income or fees for rendering technical services the tax rate shall be . Surcharge and Cess shall be levied over and above the flat rate of tax.