what is the limit for surcharge on taxable income
This query is : Resolved
M. Manikandan
(Querist)
03 September 2008
Sir,
Please clarify when surcharge of 10% is calculated on income tax.
what is the basis for deduction? whether it is on the basis of taxable income exceeds 10 lac p.a. (or) after deduction of exemption limit of Rs1.50 lac from taxable income.
thanking you,
MTNI
Please clarify when surcharge of 10% is calculated on income tax.
what is the basis for deduction? whether it is on the basis of taxable income exceeds 10 lac p.a. (or) after deduction of exemption limit of Rs1.50 lac from taxable income.
thanking you,
MTNI
03 September 2008
individual /huf- in excess of 10 lac
co /firm - when taxable income exceeds 1 crore.
co /firm - when taxable income exceeds 1 crore.
CA.Tarun Maheshwari
(Expert)
03 September 2008
Yes, Jitender is right
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