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of <h1>Corporate Income Tax Rates: Domestic, Foreign, MAT, Surcharges, and Cess Explained with Turnover Thresholds</h1> Corporate income tax rates vary based on company type and turnover. Domestic companies with turnover up to Rs. 400 crore are taxed at 25%, while others pay 30%. Foreign companies pay 50% on royalties or technical service fees under specific government-approved agreements and 40% on other income. Surcharges apply: 7% or 2% for income between Rs. 1 crore and Rs. 10 crore, and 12% or 5% above Rs. 10 crore, depending on company type, subject to marginal relief. Health and Education Cess at 4% is added on tax plus surcharge. Minimum Alternate Tax (MAT) for domestic companies is generally 15% of book profit, reduced to 9% for International Financial Services Centre units earning solely in convertible foreign exchange; foreign companies pay 15%. MAT surcharges and cess align with income tax rules. These rates have been consistent from assessment year 2007-08 through 2026-27, with minor variations in turnover thresholds and cess components.
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