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Tax rates for the last ten assessment years
INCOME-TAX RATES FOR COMPANIES

Assessment years 2015-16 to 2019-20

Particulars Tax
Rates
In the case of a domestic company 30%
In the case of a foreign company :
i. royalties received from an Indian concern in pursuance of an agreement made by it with 50%
the Indian concern after March 31, 1961; or fees for rendering technical services
received from an Indian concern in pursuance of an agreement made by it with the
Indian concern after February 29, 1964, but before April 1, 1976 and where such
agreement has, in either case been approved by the Central Government.
ii. Other income 40%
Surcharge on Income Tax:
For the assessment years 2015-16
• If net income exceeds Rs. 1 crore but does not exceed Rs. 10 crore: 5 per cent in the case of a
domestic company and 2 per cent in the case of a foreign company
• If net income exceeds Rs. 10 crore : 10 per cent in the case of a domestic company and 5 per cent in
the case of a foreign company,
For the assessment years 2016-17 to 2019-20
• If net income exceeds Rs. 1 crore but does not exceed Rs. 10 crore: 7 per cent in the case of a
domestic company and 2 per cent in the case of a foreign company
• If net income exceeds Rs. 10 crore: 12 per cent in the case of a domestic company and 5 per cent in
the case of a foreign company.
Education cess: 2% of income-tax and surcharge for the assessment years 2015-16 to 2018-19.
Secondary and higher education cess: 1% of income-tax and surcharge for the assessment years 2015-16
to 2018-19.
Health & Education Cess: 4% of income-tax and surcharge for the assessment year 2019-20.
Assessment Year 2020-21
Particulars Tax
Rates
In the case of a domestic company
 • If total turnover or gross receipts during the financial year 2017-18 does not exceed Rs. 25%
400 crores
• Opting for Section 115BA 25%
• Opting for Section 115BAA 22%
• Opting for Section 115BAB 15%
• Any other domestic company 30%
In the case of a foreign company 40%
Surcharge on Income Tax:
Company Range of Total Income
Rs. 1 crore or Above Rs. 1 crore but up to Rs. Above Rs. 10
less 10 crores crores
Domestic Company opting for Nil 7% 12%
Section 115BA
Domestic Company opting for 10% 10% 10%
Section 115BAA
Domestic Company opting for 10% 10% 10%
Section 115BAB
Any other domestic company Nil 7% 12%
Foreign company Nil 2% 5%
Health & Education Cess: 4% of income-tax and surcharge.
Assessment Year 2021-22
Particulars Tax
Rates
In the case of a domestic company
• If total turnover or gross receipts during the financial year 2018-19 does not exceed Rs. 25%
400 crores
• Opting for Section 115BA 25%
• Opting for Section 115BAA 22%
• Opting for Section 115BAB 15%
• Any other domestic company 30%
In the case of a foreign company 40%

Surcharge on Income Tax:

Company Range of Total Income
Rs. 1 crore or Above Rs. 1 crore but up to Rs. Above Rs. 10
less 10 crores crores
Domestic Company opting for Nil 7% 12%
Section 115BA
Domestic Company opting for 10% 10% 10%
Section 115BAA
Domestic Company opting for 10% 10% 10%
Section 115BAB
Any other domestic company Nil 7% 12%
Foreign company Nil 2% 5%
Health & Education Cess: 4% of income-tax and surcharge.
Assessment Year 2022-23
Particulars Tax
Rates
In the case of a domestic company
• If total turnover or gross receipts during the financial year 2019-20 does not exceed Rs. 25%
400 crores
• Opting for Section 115BA 25%
• Opting for Section 115BAA 22%
• Opting for Section 115BAB 15%
• Any other domestic company 30%
In the case of a foreign company 40%

Surcharge on Income Tax:

Company Range of Total Income
Rs. 1 crore or Above Rs. 1 crore but up to Rs. Above Rs. 10
less 10 crores crores
Domestic Company opting for Nil 7% 12%
Section 115BA
Domestic Company opting for 10% 10% 10%
Section 115BAA
Domestic Company opting for 10% 10% 10%
Section 115BAB
Any other domestic company Nil 7% 12%
Foreign company Nil 2% 5%
Health & Education Cess: 4% of income-tax and surcharge.
For Assessment Year 2023-24
Particulars Tax
Rates
In the case of a domestic company
• If total turnover or gross receipts during the financial year 2020-21 does not exceed Rs. 25%
400 crores
• Opting for Section 115BA 25%
• Opting for Section 115BAA 22%
• Opting for Section 115BAB 15%
• Any other domestic company 30%
In the case of a foreign company 40%

Surcharge on Income Tax:

Company Range of Total Income
 Rs. 1 crore or Above Rs. 1 crore but up to Rs. Above Rs. 10
less 10 crores crores
Domestic Company opting for Nil 7% 12%
Section 115BA
Domestic Company opting for 10% 10% 10%
Section 115BAA
Domestic Company opting for 10% 10% 10%
Section 115BAB
Any other domestic company Nil 7% 12%
Foreign company Nil 2% 5%
Health & Education Cess: 4% of income-tax and surcharge.
For Assessment Year 2024-25
Particulars Tax
Rates
In the case of a domestic company
• If total turnover or gross receipts during the financial year 2021-22 does not exceed Rs. 400 25%
crores
• Opting for Section 115BA 25%
• Opting for Section 115BAA 22%
• Opting for Section 115BAB 15%
• Any other domestic company 30%
In the case of a foreign company 40%
Surcharge on Income Tax:
Company Range of Total Income
Rs. 1 crore or Above Rs. 1 crore but up to Rs. Above Rs. 10
less 10 crores crores
Domestic Company opting for Nil 7% 12%
Section 115BA
Domestic Company opting for 10% 10% 10%
Section 115BAA
Domestic Company opting for 10% 10% 10%
Section 115BAB
Any other domestic company Nil 7% 12%
Foreign company Nil 2% 5%
Health & Education Cess: 4% of income-tax and surcharge.