For new companies incorporated after 01-Oct-2019 and commencing production before 31-Mar-2023, the tax rate is 15%. However, these rates are applicable only if the companies don't claim any exemptions or concessions. For Foreign companies, the tax rate shall be 40% in India for normal income. Tax on long-term capital gain. Generally, long-term capital gains are charged to tax @ 20% (plus surcharge and cess as applicable), but in certain special cases, the gain may be (at the option of the taxpayer) charged to tax @ 10% (plus surcharge and cess as applicable). For new companies incorporated after 01-Oct-2019 and commencing production before 31-Mar-2023, the tax rate is 15%. However, these rates are applicable only if the companies don't claim any exemptions or concessions. For Foreign companies, the tax rate shall be 40% in India for normal income.