Company income tax rates and MAT vary by assessment year, turnover threshold, surcharge, and cess under the statutory schedule.

Income tax rates for companies are prescribed year-wise for domestic and foreign companies, with domestic company tax linked to turnover thresholds and foreign company tax applying at higher rates to specified royalty or technical services income and to other income. The schedule also provides for surcharge subject to marginal relief and the addition of health and education cess. Separate year-wise Minimum Alternate Tax rates are stated for domestic and foreign companies, including a reduced MAT rate for a unit of an International Financial Services Centre deriving income solely in convertible foreign exchange.

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