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<h1>Income Tax Rate for Firms Unchanged in 2025-26; 12% Surcharge Applies for Income Over One Crore Rupees.</h1> The Union Budget for 2025-26, along with the Finance Bill, 2025, maintains the income tax rate for firms as specified in the previous fiscal year, 2024-25. For firms with a total income exceeding one crore rupees, a 12% surcharge on the income tax is applicable. However, the total amount payable, including the surcharge, will not exceed the tax amount on a one crore rupees income by more than the excess income over one crore rupees.