Rate of Alternate Minimum Tax (AMT) - Income Tax - Ready Reckoner - Income Tax

Rate of Alternate Minimum Tax (AMT) Rate of Tax Income tax payable by any person Higher of i) Income tax payable as per Normal provisions of the Income Tax ii) 18.5% of Adjusted Total Income Add Surcharge Rate of Surcharge - in case Net total Income income exceeds Rs. 1 crore but not exceeding Rs. 10 Crore. 7% of income-tax in case of domestic companies or 2% of income tax in case of foreign companies Rate of Surcharge - in case Net total Income income exceeds Rs. 10 crore. 12% of income-tax in case of domestic companies or 5% of Income tax in case of foreign companies Surcharge is subject to marginal Relief. Add Health and Education Cess - 4% of Income Tax