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surcharge
rates of surcharge for AY 18-19 ???
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Assessment Year 2018-19
Surcharge – A surcharge @ 10% of tax is applicable if income lies between Rs. 50 lakhs to Rs. 1 crore, but if it exceeds Rs. 1 crore then the surcharge will be payable @ 15%. However, surcharge is subject to marginal relief as stated:
- If income exceeds Rs. 50 Lakh or Rs. 1 crore as the case may be, the applicable tax plus surcharge should not exceed the part of income which is in excess to Rs. 1 crore.
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