Is surcharge applicable if income is above 50 lacs with majority income as capital gain?

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Hello All,

I am facing an issue with Income Tax this year( FY 2017-18). I have a Long term capital gain of Rs 54,88,045/- and normal income of Rs 6,16,460/- only.

Now th question is whether i have to pay Surcharge Of 10 % over income tax for the above income? Will Surcharge be applicbale for Income form Capital gain aswell?

Since my usual income lies below 8 lacs, Generally i never paid for surcharge. Now this year with capital gain, the income exceeds 50 lacs.

Is surcharge applicable? Also please suggest me a way to decrease my income tax. 

I have alraedy paid Rs 11,50,000/- as advance income tax.

 

Thanks

 

 

Replies (2)
HI ABHIMANYU ALWANI SIR,
YUO HAVE TO PAY THE SURCHARGE ON THE TOTAL INCOME THERE IS NO SEPERATION ON HEADS
HEADS ARE ONLY FOR THE CLASSIFICATION OF INCOME
AND WE HAVE ONLY. INDIVIDUAL. FIRM. DC. FC. CLASSIFICATION OF SURCHARGE
NO HEADS CLASSIFICATION
SO YOU HAVE TO PAY SURCHARGE
surcharges applicable irrespective of nature of income

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