TMI BlogIncome Tax Rates for Companies - A.Y. 2007-08 to A.Y. 2024-25X X X X Extracts X X X X X X X X Extracts X X X X ..... in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will be 12% of income-tax in case of domestic companies and 5% in case of foreign companies if net income exceeds ₹ 10 Crore either case. Surcharge is subject to marginal Relief. Note 2: - Add Health and Education Cess - 4% of Income Tax Minimum Alternate Tax for the Assessment Year 2024-25 Company Rate of Minimum Alternate Tax In case of domestic company 15%* of book profit In case of foreign Company 15% of book profit Notes: Note 1: - *MAT is levied at the rate of 9% in case of a company, being a unit of an International Financial Services Centre and deriving its income solely in convertible foreign exchange. Note 2 :- Add Surcharge - Surcharge is 7% of income-tax and in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will be 12% of income-tax in case of domestic companies and 5% in case of foreign companies if net income exceeds ₹ 10 Crore either case. Surcharge is subject to marginal Relief. Note 2: - Add Health and Education Cess - 4% of Income Tax =========================== Rates For the Assessment Year 2022-23 Company Rate of Income Tax Where its total turnover or the gross receipt in the previous year 2019-20 does not exceed four hundreds crore rupees; 25% In case of domestic company other than above 30% In case of foreign Company - Royalty received from Government or an Indian Concern in pursuance of an agreement made by it with the Indian concern after March 31, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income 40% Notes: Note 1: - Add Surcharge - Surcharge is 7% of income-tax in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will be 12% of income-tax in case of domestic companies and 5% in case of foreign companies if net income exceeds ₹ 10 Crore either case. Surcharge is subject to marginal Relief. Note 2: - Add Health and Education Cess - 4% of Income Tax Minimum Alternate Tax for the Assessment Year 2021-22 Company Rate of Minimum Alternate Tax In case of domestic company 15% of book profit In case of foreign Company 15% of book profit Notes: Note 1: - Add Surcharge - Surcharge is 7% of income-tax and in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will be 12% of income-tax in case of domestic companies and 5% in case of foreign ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... subject to marginal Relief. Note 2: - Add Health and Education Cess - 4% of Income Tax =========================== Rates For the Assessment Year 2019 - 2020 Company Rate of Income Tax Where its total turnover or the gross receipt in the previous year 2016-17 does not exceed two hundreds and fifty crore rupees; 25% In case of domestic company other than above 30% In case of foreign Company - Royalty received from Government or an Indian Concern in pursuance of an agreement made by it with the Indian concern after March 31, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by central Government 50% - Other Income 40% Notes: Note 1: - Add Surcharge - Surcharge is 7% of income-tax in case of domestic companies and 2% in ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Crore in either case. Rate of Surcharge will be 12% of income-tax in case of domestic companies and 5% in case of foreign companies if net income exceeds ₹ 10 Crore either case. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax plus surcharge Minimum Alternate Tax for the Assessment Year 2018 - 2019 Company Rate of Minimum Alternate Tax In case of domestic company 18.50% of book profit In case of foreign Company 18.50% of book profit Notes: Note 1: - Add Surcharge - Surcharge is 7% of income-tax and in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will be 12% of income-tax in case of domestic companies and 5% in case of foreign companies if net income exceeds ₹ 10 Crore either case. Surcharge is subject to marginal Relief. Note 2: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stic companies and 5% in case of foreign companies if net income exceeds ₹ 10 Crore either case. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax plus surcharge =========================== Rates For the Assessment Year 2016 - 2017 Company Rate of Income Tax In case of domestic company 30% In case of foreign Company - Royalty received from Government or an Indian Concern in pursuance of an agreement made by it with the Indian concern after March 31, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by central Government 50% - Other Income 40% Notes: Note 1: - Add Surcharge - Surcharge is 7% of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rcharge is 5% of income-tax and in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will be 10% of income-tax in case of domestic companies and 5% in case of foreign companies if net income exceeds ₹ 10 Crore either case. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax plus surcharge Minimum Alternate Tax for the Assessment Year 2015 - 2016 Company Rate of Minimum Alternate Tax In case of domestic company 18.50% of book profit In case of foreign Company 18.50% of book profit Notes: Note 1: - Add Surcharge - Surcharge is 5% of income-tax and in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1 crore but not exceeding ₹ 10 Crore in either case. Rate of Surcharge will be 10% of income-tax and in case of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in case of domestic companies and 5% in case of foreign companies if net income exceeds ₹ 10 either case. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax plus surcharge =========================== Income Tax Rates for Companies Rates For the Assessment Year 2013-2014 Company Rate of Income Tax In case of domestic company 30% In case of foreign Company - Royalty received from Government or an Indian Concern in pursuance of an agreement made by it with the Indian concern after March 31, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by central Government 50% - Other Income 40% Notes: Note 1: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arge Minimum Alternate Tax for the Assessment Year 2012-2013 Company Rate of Minimum Alternate Tax In case of domestic company 18.50% of book profit In case of foreign Company 18.50% of book profit Notes: Note 1: - Add Surcharge - Surcharge is 5% of income-tax and in case of domestic companies and 2% in case of foreign companies if net income exceeds ₹ 1crore in either case. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax plus surcharge Note 3: - Add Secondary and Higher Education Cess - SHE. Cess is 1% of Income Tax plus surcharge =========================== Income Tax Rates for Companies Rates For the Assessment Year 2011-2012 Company Rate of Income Tax In case of domestic company 30% In case of foreign Company - Royalty received from Government or an Indian Concern in pursuance of an agreement made b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dd Surcharge - Surcharge is 10% of income-tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) and in case of domestic companies and 2.5% in case of foreign companies if net income exceeds ₹ 1 crore in either case. Surcharge is subject to marginal Relief. Note 2: - Add Education Cess - E. Cess is 2% of Income Tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) 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 2009-10) plus surcharge Minimum Alternate Tax for the Assessment Year 2010-2011 Company Rate of Minimum Alternate Tax In case of domestic company 15% of book profit In case of foreign Company 15% of book profit Notes: Note 1: - Add Surcharge - Surcharge is 10% of income-tax (Rebate u/s 88E is not available w.e.f. AY 2009-10) and in case of domestic companies and 2.5% in case of foreign companies if net income exceeds ₹ 1 crore in either case. Surcharge is subject to marginal Relief. Note 2: - Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -10) 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 2009-10) plus surcharge =========================== Rates For the Assessment Year 2008-2009 Company Rate of Income Tax In case of domestic company 30% In case of foreign Company - Royalty received from Government or an Indian Concern in pursuance of an agreement made by it with the Indian concern after March 31, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by central Government 50% - Other Income 40% Notes: Note 1: - Add Surcharge - Surcharge is 10% of income-tax (After deducting Rebate u/s 88E if any) and in case of domestic companies and 2.5% in case of foreign companies if net income exceeds ₹ 1 cro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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