Income Tax Rates for Assessment Year 2026-2027 [ For FIRM ] Total Income (Other than Liable for Special Rates) Rates of Income Tax On Whole Income 30% [ Alternate Minimum Tax (AMT) ] [ View Short Note on Alternate Mimimum Tax ] On whole 'adjusted total income' @ 18.50% of 'adjusted total income', where in the case of an individual liable to pay Alternate Minimum Tax where tax payable by him, on his total income computed as per normal provisions of the Act, is less than 18.5% of 'adjusted total income'. On whole 'adjusted total income' @ 9% of 'adjusted total income', in case of an assessee other than a company, being a unit of an International Financial Services Centre and deriving its income solely in convertible foreign exchange  Surcharge In the case of total income exceeding Rs.1,00,00,000/- @ 12% of income tax.   Provided the total amount payable as income tax and surcharge on such income shall not exceed the total amount payable as income tax on a total income of Rs.1,00,00,000/- by more than the amount of income that exceeds Rs.1,00,00,000/-.  Health and Education Cess Health and Education Cess : @ 4% of income tax and Surcharge.     BACK