Income Tax Rates for Firms - A.Y. 2007-08 to A.Y. 2025-26 - Income Tax - Ready Reckoner - Income Tax

Income Tax Rates for Firms Rates for the Assessment Year 2025-26 Rate of Tax is 30% - On the whole of the total income AMT is levied @18.50% of Book Profit / Adjusted total income. However, AMT is levied @9% in case of Non-Corporate Assessee, located in International Financial Services Centre and deriving its income in convertible foreign exchange Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax ======================== Rates for the Assessment Year 2024-25 Rate of Tax is 30% AMT is levied @18.50% of Book Profit / Adjusted total income. However, AMT is levied @9% in case of Non-Corporate Assessee, located in International Financial Services Centre and deriving its income in convertible foreign exchange Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax ======================== Rates for the Assessment Year 2023-24 Rate of Tax is 30% AMT is levied @18.50% of Book Profit / Adjusted total income. However AMT is levied @9% in case of Non-Corporate Assessee, located in International Financial Services Centre and deriving its income in convertible foreign exchange Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax ======================== Rates for the Assessment Year 2022-23 Rate of Tax is 30% AMT is 18.50% of Book Profit / Adjusted total income. Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax ======================== Rates for the Assessment Year 2021-2022 Rate of Tax is 30% AMT is 18.50% of Book Profit / Adjusted total income. Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax ======================== Rates for the Assessment Year 2020-2021 Rate of Tax is 30% AMT is 18.50% of Book Profit / Adjusted total income. For more details on Alternate Minimum Tax (AMT) , click here Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax ======================== Rates for the Assessment Year 2019-2020 Rate of Tax is 30% AMT is 18.50% of Book Profit / Adjusted total income. For more details on Alternate Minimum Tax (AMT) , click here Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Health and Education Cess - 4% of Income Tax ======================== Rates for the Assessment Year 2018-2019 Click here for Alternate Minimum Tax (AMT) Rate of Tax is 30% Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ======================== Rates for the Assessment Year 2017-2018 Click here for Alternate Minimum Tax (AMT) Rate of Tax is 30% Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ======================== Rates for the Assessment Year 2016-2017 Click here for Alternate Minimum Tax (AMT) Rate of Tax is 30% Notes: Note 1: - Add Surcharge - 12% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ======================== Income Tax Rates for Firms Rates for the Assessment Year 2015-2016 Click here for Alternate Minimum Tax (AMT) Rate of Tax is 30% Notes: Note 1: - Add Surcharge - 10% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax Surcharge ======================== Income Tax Rates for Firms Rates for the Assessment Year 2014-2015 Click here for Alternate Minimum Tax (AMT) Rate of Tax is 30% Notes: Note 1: - Add Surcharge - 10% if income exceeds ₹ 1 Crores - with marginal relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ======================== Income Tax Rates for Firms Rates for the Assessment Year 2013-2014 Click here for Alternate Minimum Tax (AMT) Rate of Tax is 30% Notes: Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ======================== Income Tax Rates for Firms Rates for the Assessment Year 2012-2013 Click here for Alternate Minimum Tax (AMT) - for LLP Rate of Tax is 30% Notes: Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ======================== Income Tax Rates for Firms Rates for the Assessment Year 2011-2012 Rate of Tax is 30% Notes: Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax ======================== Rates for the Assessment Year 2010-2011 Rate of Tax is 30% Notes: Note 1: - Add Surcharge - Nil Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-2010) Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-2010) ======================== Rates for the Assessment Year 2009-2010 Rate of Tax is 30% Notes: Note 1: - Add Surcharge - Surcharge is 10% of income-tax (Rebate u/s 88E is not available w.e.f. AY 2009-2010). Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-2010) plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-2010) plus surcharge ======================== Rates for the Assessment Year 2008-2009 Rate of Tax is 30% Notes: Note 1: - Add Surcharge - Surcharge is 10% of income-tax (After deducting Rebate u/s 88E if any) if net income exceeds ₹ 1 crore. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (minus rebate u/s 88E ) plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax (minus rebate u/s 88E ) plus surcharge ======================== Rates for the Assessment Year 2007-2008 Rate of Tax is 30% Notes: Note 1: - Add Surcharge - Surcharge is 10% of income-tax (After deducting Rebate u/s 88E if any). Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (minus rebate u/s 88E ) plus surcharge