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Union Budget 2026-27 - Finance Bill, 2026
The rates of income-tax in the case of companies have been specified in Paragraph E of Part I-B of the First Schedule to the Bill. In case of domestic company, the rate of income-tax shall be 25% of the total income, if the total turnover or gross receipts of the tax year 2024- 25 does not exceed four hundred crore rupees and where the companies continue in section 199 regime. In all other cases the rate of income-tax shall be 30% of the total income. However, domestic companies also have an option to opt for taxation under section 200 of the Act on fulfillment of conditions contained therein. The rate of income-tax rate is 22% in section 200. Surcharge would be at 10% on such tax.
2. In the case of a company other than a domestic company, the rates of income-tax shall be 35% of the total income, on income other than income chargeable at special rates.
3. Surcharge at the rate of 7% shall continue to be levied in case of a domestic company (except those opting for taxation under section 200 and section 201 of the Act), if the total income of the domestic company exceeds one crore rupees but does not exceed ten crore rupees. Surcharge at the rate of 12% shall continue to be levied, if the total income of the domestic company (except those opting for taxation under section 200 and section 201 of the Act) exceeds ten crore rupees.
4. In case of companies other than domestic companies, the existing surcharge of 2% shall continue to be levied, if the total income exceeds one crore rupees but does not exceed ten crore rupees. Surcharge at the rate of 5% shall continue to be levied, if the total income of the company other than domestic company exceeds ten crore rupees.
5. Marginal relief is provided in surcharge in all cases.
Full Text:
Company tax rates: domestic companies 25% or 30% with opt-in 22% regime; non-domestic companies 35%; specified surcharges apply. The Finance Bill, 2026 sets company tax rates: domestic companies pay 25% if turnover/gross receipts for 2024-25 400 crore and under section 199, otherwise 30%; domestic companies may opt for section 200 at 22% with a 10% surcharge. Non-domestic companies are taxed at 35% on income not at special rates. Surcharges: domestic (excluding section 200/201 electors) 7% for income >1 crore 10 crore and 12% for income >10 crore; non-domestic 2% for >1 crore 10 crore and 5% for >10 crore. Marginal relief applies. of Press 'Enter' after typing page number.
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