Rates Of Income Tax
ASSESSMENT YEAR : 2026 -27
PREVIOUS YEAR : 2025 - 26
1. For resident Senior Citizens. (Age above 60 Years)
| Old Tax Slab | Rate | New Tax Slab ( Sec 115BAC) | Rate |
| Upto Rs 3,00,000 | NIL | Upto Rs 4,00,000 | NIL |
| Rs 3,00,001 – Rs 5,00,000 | 5% | Rs 4,00,001 – Rs ,800,000 | 5% |
| Rs 5,00,001 – Rs 10,00,000 | 20% | Rs 8,00,001 – Rs 12,00,000 | 10% |
| Above Rs 10,00,000 | 30% | Rs 12,00,001 – Rs 16,00,000 | 15% |
| Rs 16,00,001 – Rs 20,00,000 | 20% | ||
| Rs 20,00,001 – Rs.24,00,000 | 25% | ||
| Above Rs.24,00,000 | 30% |
2. For resident Super Senior Citizens. (Age above 80 Years)
| Old Tax Slab | Rate | New Tax Slab ( Sec 115BAC) | Rate |
| Upto Rs 5,00,000 | NIL | Upto Rs 4,00,000 | NIL |
| Rs 5,00,001 – Rs 10,00,000 | 20% | Rs 4,00,001 – Rs 8,00,000 | 5% |
| Above Rs 10,00,000 | 30% | Rs 8,00,001 – Rs 12,00,000 | 10% |
| Rs 12,00,001 – Rs 16,00,000 | 15% | ||
| Rs 16,00,001 – Rs 20,00,000 | 20% | ||
| Rs 20,00,001 – Rs 24,00,000 | 25% | ||
| Above Rs. 24,00,000 | 30% |
3. Individuals,HUF, AOP, BOI, AJP [other than those mentioned above]
| Old Tax Slab | Rate | New Tax Slab ( Sec 115BAC) | Rate |
| Upto Rs 2,50,000 | NIL | Upto Rs 4,00,000 | NIL |
| Rs 2,50,001 – Rs 5,00,000 | 5% | Rs 4,00,001 – Rs 8,00,000 | 5% |
| Rs 5,00,001 – Rs 10,00,000 | 20% | Rs 8,00,001 – Rs 12,00,000 | 10% |
| Above Rs 10,00,000 | 30% | Rs 12,00,001 – Rs 16,00,000 | 15% |
| Rs 16,00,001 – Rs 20,00,000 | 20% | ||
| Rs 20,00,000 – Rs.24,00,000 | 25% | ||
| Above Rs.24,00,000 | 30% |
Note: Rebate u/s 87A to Resident individual
| Old Regime | New Regime | |
| Income upto | 5,00,000 | 12,00,000 |
| Tax Rebate on Normal Income upto | 12500 | 60,000 |
Surcharge :
⇒ 10% for Individual having taxable Income exceeding 50 Lacs upto 1 Crore
⇒ 15% for Individual having taxable Income exceeding 1 Crore Upto 2 crore rupees
⇒ 25% for Individual having taxable Income exceeding 2 Crore
⇒ Health and EducationCess: 4% on the amount of Tax plus surcharge
Companies
(A) Domestic Companies
Income tax :
If opted for Section 115BA (facturing company set up on or after 1.3.16) – 25%
If opted for Section 115BAA (Domestic company) – 22%
If opted for Section 115BAB (Domestic Manufacturing company set up on or after 1.10.19 & business commenced on or before 31.3.24.) -15%
Note : In the above cases, few incentives & deductions are not available.
Any other domestic company -30%
MAT: 15%
Surcharge:
7% if the taxable income is between Rs.1 crore and Rs.10 Crore
12% if the taxable income is Exceed rs 10 crores
Note:
1. Surcharge is subject to marginal relief.
2. The rate of surcharge in case of a company opting for taxability under Section 115BAA or Section 115BAB shall be flat 10% irrespective of amount of total income.
Health and Education Cess: 4% on the amount of Tax plus surcharge
(B) Foreign Companies
Income tax :
⇒ 35% (in general )
⇒ 50% (Royalty received from Government or an Indian concern in pursuance of an agreement made with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by the Central Government)
Surcharge :
2% if the taxable income is between Rs.1 crore and Rs.10 Crore & 5% if the taxable income exceeds Rs.10 crores
Health and Education Cess:
4% on the amount of Tax plus surcharge
Note: Surcharge is subject to marginal relief.
Firms & LLP
Income tax : 30%.
Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.
Health and Education Cess: 4% on the amount of Tax plus surcharge.
Cooperative Socities (Under New Regime) -Section 115BAC
(A) Normal Rates:
Up to Rs.10,000- 10%
Rs. 10,000 to Rs. 20,000- 20%
Above Rs. 20,000- 30%
Surcharge : 7% if the taxable income is between Rs.1 crore and Rs.10 Crore & 12% if the taxable income exceeds Rs.10 crores.
Note : Surcharge is subject to marginal relief.
Health and Education Cess: 4% on the amount of Tax plus surcharge
Alternate Minimum Tax (AMT) on Co-operative Society: 15%
(B) Tax rate applicable to a Resident Co-operative society opting for section 115BAD & giving up few incentives & deductions : 22%
(C) Concessional tax rate to promote manufacturing cooperative society set up on or after 1.4.23 & commences manufacture on or before 31.3.24: 15%
Note : In case of concessional tax, surcharge flat 10% without any marginal relief.
Rates Of Income Tax
ASSESSMENT YEAR : 2025 -26
PREVIOUS YEAR : 2024 - 25
1. For resident Senior Citizens. (Age above 60 Years)
| Old Tax Slab | Rate | New Tax Slab ( Sec 115BAC) | Rate |
| Upto Rs 3,00,000 | NIL | Upto Rs 3,00,000 | NIL |
| Rs 3,00,001 – Rs 5,00,000 | 5% | Rs 3,00,001 – Rs 7,00,000 | 5% |
| Rs 5,00,001 – Rs 10,00,000 | 20% | Rs 7,00,001 – Rs 10,00,000 | 10% |
| Above Rs 10,00,000 | 30% | Rs 10,00,001 – Rs 12,00,000 | 15% |
| Rs 12,00,001 – Rs 15,00,000 | 20% | ||
| Above Rs 15,00,000 | 30% |
2. For resident Super Senior Citizens. (Age above 80 Years)
| Old Tax Slab | Rate | New Tax Slab ( Sec 115BAC) | Rate |
| Upto Rs 5,00,000 | NIL | Upto Rs 3,00,000 | NIL |
| Rs 5,00,001 – Rs 10,00,000 | 20% | Rs 3,00,001 – Rs 7,00,000 | 5% |
| Above Rs 10,00,000 | 30% | Rs 7,00,001 – Rs 10,00,000 | 10% |
| Rs 10,00,001 – Rs 12,00,000 | 15% | ||
| Rs 12,00,001 – Rs 15,00,000 | 20% | ||
| Above Rs 15,00,000 | 30% |
3. Individuals,HUF, AOP, BOI, AJP [other than those mentioned above]
| Old Tax Slab | Rate | New Tax Slab ( Sec 115BAC) | Rate |
| Upto Rs 2,50,000 | NIL | Upto Rs 3,00,000 | NIL |
| Rs 2,50,001 – Rs 5,00,000 | 5% | Rs 3,00,001 – Rs 7,00,000 | 5% |
| Rs 5,00,001 – Rs 10,00,000 | 20% | Rs 7,00,001 – Rs 10,00,000 | 10% |
| Above Rs 10,00,000 | 30% | Rs 10,00,001 – Rs 12,00,000 | 15% |
| Rs 12,00,001 – Rs 15,00,000 | 20% | ||
| Above Rs 15,00,000 | 30% |
Note: Rebate u/s 87A is allowed to resident individual having income upto Rs. 7 lacs. Rebate is upto the amount of income tax, not exceeding Rs. 25,000.
Surcharge :
⇒ 10% for Individual having taxable Income exceeding 50 Lacs upto 1 Crore
⇒ 15% for Individual having taxable Income exceeding 1 Crore Upto 2 crore rupees
⇒ 25% for Individual having taxable Income exceeding 2 Crore
⇒ Health and Education Cess: 4% on the amount of Tax plus surcharge
Companies
(A) Domestic Companies
Income tax :
⇒ If opted for Section 115BA (facturing company set up on or after 1.3.16) – 25%
⇒ If opted for Section 115BAA (Domestic company) – 22%
⇒ If opted for Section 115BAB (Domestic Manufacturing company set up on or after 1.10.19 & business commenced on or before 31.3.24.) -15%
Note : In the above cases, few incentives & deductions are not available.
Any other domestic company -30%
MAT: 15%
Surcharge:
⇒ 7% if the taxable income is between Rs.1 crore and Rs.10 Crore
⇒ 12% if the taxable income is Exceed rs 10 crores
Note:
1. Surcharge is subject to marginal relief.
2. The rate of surcharge in case of a company opting for taxability under Section 115BAA or Section 115BAB shall be flat 10% irrespective of amount of total income.
Health and Education Cess: 4% on the amount of Tax plus surcharge
(B) Foreign Companies
Income tax :
⇒ 35% (in general )
⇒ 50% (Royalty received from Government or an Indian concern in pursuance of an agreement made with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by the Central Government)
Surcharge :
2% if the taxable income is between Rs.1 crore and Rs.10 Crore & 5% if the taxable income exceeds Rs.10 crores
Health and Education Cess:4% on the amount of Tax plus surcharge
Surcharge:
⇒ 7% if the taxable income is between Rs.1 crore and Rs.10 Crore
⇒ 12% if the taxable income is Exceed rs 10 crores
Note:
1. Surcharge is subject to marginal relief.
2. The rate of surcharge in case of a company opting for taxability under Section 115BAA or Section 115BAB shall be flat 10% irrespective of amount of total income.
Health and Education Cess: 4% on the amount of Tax plus surcharge
Note : Surcharge is subject to marginal relief.
Firms & LLP
Income tax : 30%.
Surcharge : 12% of the Income Tax, where total taxable income is more than Rs. 1 crore.
Health and Education Cess: 4% on the amount of Tax plus surcharge.
Cooperative Socities (Under New Regime) -Section 115BAC
(A) Normal Rates:
Up to Rs.10,000- 10%
Rs. 10,000 to Rs. 20,000- 20%
Above Rs. 20,000- 30%
Surcharge : 7% if the taxable income is between Rs.1 crore and Rs.10 Crore & 12% if the taxable income exceeds Rs.10 crores.
Note : Surcharge is subject to marginal relief.
Health and Education Cess: 4% on the amount of Tax plus surcharge
Alternate Minimum Tax (AMT) on Co-operative Society: 15%
(B) Tax rate applicable to a Resident Co-operative society opting for section 115BAD & giving up few incentives & deductions : 22%
(C) Concessional tax rate to promote manufacturing cooperative society set up on or after 1.4.23 & commences manufacture on or before 31.3.24: 15%
Note : In case of concessional tax, surcharge flat 10% without any marginal relief.