Is Surcharge on corporate tax also scrapped

 NO ITS STILL THERE   @ 2.5% FOR COMPANIES HAVING TURNOVER MORE THAN 1 CRORES

only individual and hufhas been scrapped

Hi Ramanju,

SC on Firm & Domestic company @ 10% and on Foreign Company @ 2.25%.

Hello friends,

Surcharge on Individual, HUF, Partnership firm, Association of Persons, Body of Individuals are abolished in budget 2009. However domestic companies are liable to pay surcharge  @ 10% if income exceeds 1 cr. and company other than domestic company are liable for surcharge @ 2.5%

Surcharge on other than corporate assessees have been scrapped and also for firms

Domestic companies are liable to pay surcharge  @ 10% if income exceeds 1 cr. and company other than domestic company are liable for surcharge @ 2.5%

surcharge has been scrapped for only individual & Huf & it is continue for other assesee @ 10 % of taxable income if taxable income exceeds  Rs 1 cr

Surcharge on firms has also been removed. Only companies liable to pay surcharge now.