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Slab rate on pgbp
PGBP = 2,60,00,000 What will be the slab rate on this
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Surcharge is levied on Income Tax and is levied if Income is more than Rs. 50 Lakhs in case of Individuals and Rs. 1 Crores in case of Companies. Different rates of surcharge are applicable for different categories of taxpayers and the current rates of Surcharge are as follows:-
Individuals, HUF, Association of Persons, Body of Individuals, Artificial Judicial Persons
| Level of Income | Surcharge on Income Tax |
| Less than Rs. 50 Lakhs | Nil |
| Rs. 50 Lakhs to Rs. 1 Crore | 10% |
| Rs. 1 Crore to Rs. 2 Crores | 15% |
| Rs. 2 Crores to Rs. 5 Crores | 25% |
| More than Rs. 5 Crores | 37% |
Related Notable Points
25% Surcharge and 37% Surcharge would not be applicable in following cases:-
-
- Dividend Income
- Income chargeable as Short Term Capital Gains on Sale of Shares/ Mutual Funds under Section 111A or Sec. 112A
Firms, Co-operative Societies and Local Authorities
| Level of Income | Surcharge on Income Tax |
| Less than Rs. 1 Crores | Nil |
| More than Rs. 1 Crores | 12% |
Domestic Company
| Level of Income | Surcharge on Income Tax |
| Less than Rs. 1 Crores | Nil |
| Rs. 1 Crores to Rs. 10 Crores | 7% |
| More than Rs. 10 Crores | 12% |
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