Meaning of income for surcharge
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2012
As per income tax act surcharge is leviable on domestic companies having income more then 1 crore ..what is meaning of income here its turnover or its profit..??
29 July 2012
Income means taxable income (profit) as computed under the provisions of the Income Tax Act.
It does NOT mean turnover.
It does NOT mean turnover.
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