Hi,
I have a query regarding surcharge. My income from Salary and other sources is around 1.83Cr and Capital gains are around 41.6Lakhs. Total income is around 2.25Cr.
The income tax calculator at https://incometaxindia.gov.in/Pages/tools/income-tax-calculator-234ABC.aspx shows surcharge as 9Lakhs, but the advance tax calculator at https://incometaxindia.gov.in/Pages/tools/advance-tax-calculator.aspx shows the surcharge on income tax as 14.29 Lakhs.
Could someone please clarify which one is correct? Is the surcharge 15% or 20%? Since the income other than capital gains is not crossing 2Cr, shouldnt the surcharge be 15%?
Thanks,
Srikanth
CAclubindia
