Home > Experts > Income Tax > Surcharge on income tax


Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Surcharge on income tax (Income Tax)

Report Abuse
This query is : Resolved


( Author )
20 July 2013

Dear all,

Please tell me that when will the surcharge will applicable on income tax & what is the method of calculation of it.


Thanks in advance.


rupesh jain

( Expert )
20 July 2013

AT PRESENT ON INDIVIDAUAL IF HIS TAXABLE INCOME EXCEEDS RS. 1 CRORES
CALCULATE TAX ON INCOME RS. 1 CRORES +10 % OF TAX ON RS. 1 CRORES INCOME AND AFTER BOTH ADDITION 3% EDUCATION CESS WILL BE CALCULATE


B.Chackrapani Warrier

( Expert )
20 July 2013

For the assessment year 2014-15 , for non-corporate assessees,surcharge on income tax has to be paid @ 10% of income tax if the income exceeds Rs. One crore.

For corporates @ 5% if income is in between Rs one and Ten crores and 10% if income exceeds Ten crores.

For foreign corporates the rates are 2% instead of 5% and 5% instead of 10%.


Bijender

( Author )
22 July 2013

Dear sir,

Please tell me that the limit 1 crore, ten crore are as taxable income or net income

thanks in advance.


rupesh jain

( Expert )
22 July 2013

i crore is limit of taxable amount


Previous

Next

You need to be the querist or approved CAclub expert to take part in this query .


Click here to login ( Members Login ) now


Similar Resolved Queries :













submit










Quick Links





back to the top