Surcharge is applicable on ltcg u/s 112

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19 Points Posted on 23 December 2020
whether surcharge is applicable on ltcg u/s 112 in case of companies?
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On 23 December 2020 at 14:25 Report
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This discussion clarifies whether a surcharge is applicable to Long Term Capital Gains (LTCG) taxed under Section 112 for companies. The consensus is that surcharge is indeed applicable, with rates varying between 7% and 12% depending on the company's total income exceeding specific thresholds (₹1 crore or ₹10 crores). It's also noted that for LTCG under Sections 111A and 112A, the maximum surcharge is capped at 15%.

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Student
232 Points Posted on 23 December 2020
Yes. HE Cess is applicable u/s 112 @ 4%.
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On 23 December 2020 at 14:47
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19 Points Posted on 23 December 2020
Sir it's not about cess, it's about surcharge
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On 23 December 2020 at 15:01
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Student
232 Points Posted on 23 December 2020
Sorry sorry and yes surcharge is also applicable @ 7% or 12% in case of domestic company.
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On 23 December 2020 at 15:06
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Accountant
4533 Points Posted on 23 December 2020
Yep Surcharge is applicable if total income including capital gain exceed 1 crore @ 7% And if income exceed 10 crores than 12%.

In case of Capital gain, Surcharge is applicable only if total income exceed certain limit.

But in case of 111A & 112A maximum surcharge can be 15% only.
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On 23 December 2020 at 20:04

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