Surcharge on income tax
This query is : Resolved
16 July 2014
One of my client income comes around below 50 Lakhs for AY 2014-2015 from salary , House Property & Bank interest. Also he has the capital gain of more than 1 crores. I have calculated a tax payable separately for the income and capital gain as special rates. I have a clarification whether the surcharge is applicable for both calculation or only eligible for Capital Gain?
Please clarify. Thanks in advance
Please clarify. Thanks in advance
16 July 2014
its on total tax after adding tac on cap gain and other income
Message likes :
1 times
16 July 2014
surcharge shall be applicable on the total tax liability. assuming Rrs 50 lakhs other taxable incomes and Rs 1 cr as capital gains (at 20% tax), surcharge shall be Rs Rs 3.33 lakhs.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Salary from Qatar in Dollars in India
- GST ISSUE OF INPUT AND OUTPUT GST
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
