Filing Taxes as a Corporation: A Complete Guide for Business Owners
Running a corporation comes with many responsibilities, and one of the most important is filing taxes as a corporation . Unlike sole proprietorships or partnerships, corporations follow a separate tax structure with specific compliance requirements. Understanding how corporate taxes work can help you avoid penalties, reduce tax liability, and keep your business financially healthy. This guide explains everything you need to know about filing taxes as a corporation , including types of corporate taxes, key deadlines, deductions, and common mistakes to avoid. What Does Filing Taxes as a Corporation Mean? Filing taxes as a corporation means reporting your company’s income, expenses, profits, and losses separately from personal income. A corporation is considered a legal entity, which means it must file its own tax returns and pay applicable corporate taxes. In India, corporations are taxed under the Income Tax Act, and compliance includes income tax returns, advance tax payments, and...