Whether Surcharge of 10% is appliable if the total income (i.e credits to P & L A/c) exceeds 1Cr. or the Net Profit exceeds 1Cr.
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Surcharge
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If taxable Income exceeds Rs.1Cr.
Which is calculated as per Income Tax
hi,
if taxable income goes beyond 1cr. there is 10% surcharge and there after adding profit+surharge edu. cess is calculated.
if taxable income excess 1 crore
for surcharge, taxable income is relevant
all frnds are correct
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