112A and surcharge
i have 112A income of 80000 and other source income of 5000000, will surcharge be levied on me, and of yes then how much?
Replies (1)
Yes, a surcharge is levied on your income tax if your total income (including LTCG under Section 112A) exceeds ₹50 lakhs. For an income level between ₹50 lakhs and ₹1 crore, the applicable surcharge rate is 10% of the total income tax computed.
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