Surcharge

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TARIQUE RIZVI (Querist)
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21 May 2019 Respected Sir, what is the limit of income for the Ay 19-20 when surcharge on income tax has to be paid and what is the formula ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 May 2019 1) Individuals
* 10% if taxable income is in between 50 to 100 lakhs.
* 15% if taxable income exceeds 100 lakhs.

2) Partnership firms / Co-Op Societies
* 12% if taxable income exceeds 100 lakhs.

3) Companies
* 7% if taxable income is in between 100 to 1000 lakhs.
* 12% if taxable income exceeds 1000 lakhs

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