Income Tax Rates for Assessment Year 2026-2027 [ View Short Note on Special Tax Rates options available under Section 115BA, Section 115BAA and Section 115BABM ] [ For domestic company ] Total Income (Other than Liable for Special Rates) Rates of Income Tax If turnover or gross receipt of the company does not exceed Rs.400 crore in the previous year 2023-24, On Whole Income 25% Others, On Whole Income 30% [ Minimum Alternate Tax (MAT) ] [ View Short Note on Mimimum Alternate Tax ] On whole 'book profit' @ 15% of 'book profit', where in the case of an Domastic company liable to pay Minimum Alternate Tax where tax payable by it, on its total income computed as per normal provisions of the Act, is less than 15% of 'book profit'. On whole 'book profit' @ 9% of 'book profit', in case of a company, being a unit of an International Financial Services Centre and deriving its income solely in convertible foreign exchange  Surcharge A] In the case of total income exceeding Rs.1,00,00,000/- but not exceeding Rs.10,00,00,000/- @ 7% 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/-.  B] In the case of total income exceeding Rs.10,00,00,000/- @ 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.10,00,00,000/- by more than the amount of income that exceeds Rs.10,00,00,000/-.  Health and Education Cess Health and Education Cess : @ 4% of income tax and Surcharge.     BACK