Surcharge on income tax

This query is : Resolved

N SETHURAMAN (Querist)
Follow

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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

16 July 2014 its on total tax after adding tac on cap gain and other income

Message likes : 1 times

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Sunny Sharma

Rajat Khandelwal

ASHOK B GONDKAR

ashvini tripathi

CA Lalit Kumar Agrawal

Subscribe Now

Surcharge on income tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

Accountant

GST CONSULTANCY

Manager- Finance and Compliance

CA Final