Surcharge applicability

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374 Points Posted on 28 October 2020
Total income before deduction is 5200000 and after deduction 4500000 is surcharge applicable

When is surcharge applicable is totla income before deduction is 5000000 or after deduction 5000000.
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On 28 October 2020 at 20:41 Report
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Quick Summary
This discussion clarifies when an income tax surcharge becomes applicable. It explains that the surcharge is levied on taxable income, specifically after any deductions have been made, rather than on the total income before deductions.

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Accountant
3662 Points Posted on 28 October 2020
No, Surcharge on Income Tax will be applicable after deductions
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On 28 October 2020 at 20:53
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Tax consultant
5895 Points Posted on 29 October 2020
Surcharge will be levied on the taxable income.
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On 29 October 2020 at 02:04

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