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.
5 Replies
Sameer Medhekar
(Student)
(4140 Points)
Replied 07 January 2009
If taxable Income exceeds Rs.1Cr.
Which is calculated as per Income Tax
abhishek bhatt
(CA student)
(136 Points)
Replied 07 January 2009
hi,
if taxable income goes beyond 1cr. there is 10% surcharge and there after adding profit+surharge edu. cess is calculated.
CA. Rajeev Aggarwal
(Chartered Accountant)
(3424 Points)
Replied 07 January 2009
for surcharge, taxable income is relevant
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