Surcharge provison.
This query is : Resolved
10 August 2014
What does the following para means-
"Marginal relief is available in case of such persons having a total income exceeding Rupees 1 crore i.e. the additional amount of income tax payable (together with surcharge) on the excess of income over Rs. 1 crore should not be more than the amount of income exceeding Rs. 1 crore."
when read with refernce of provison on surcharge on income exceedng 1 crore (@ 10%).
Help needed.
Thank you.
11 August 2014
Suppose if the income is 1 crore and ten thousand if we charge surcharge on this income the surcharge will be exceeding ten thousand, in such cases the surcharge will be limited to ten thousand only.
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