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        Case ID :
        Bill

        Firms

        1 February, 2026

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        Union Budget 2026-27 - Finance Bill, 2026

        In the case of firms, the rate of income-tax has been specified in Paragraph C of Part I- B of the First Schedule to the Bill. This rate will continue to be the same as that specified for FY 2025-26. The amount of income-tax shall be increased by a surcharge at the rate of 12% of such income-tax in case of a firm having a total income exceeding one crore rupees. However, the total amount payable as income-tax and surcharge on total income exceeding one crore rupees shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

         

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        Union Budget 2026-27 - Finance Bill, 2026

        Firms: income-tax rate unchanged; 12% surcharge over one crore rupees with a cap limiting additional tax. Firms continue to pay the same specified rate of income-tax as in the prior year. A 12% surcharge applies where a firm's total income exceeds one crore rupees, but the total tax plus surcharge on income exceeding one crore rupees is limited so it does not exceed the tax on one crore rupees by more than the excess income.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Firms: income-tax rate unchanged; 12% surcharge over one crore rupees with a cap limiting additional tax.

                              Firms continue to pay the same specified rate of income-tax as in the prior year. A 12% surcharge applies where a firm's total income exceeds one crore rupees, but the total tax plus surcharge on income exceeding one crore rupees is limited so it does not exceed the tax on one crore rupees by more than the excess income.


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