surcharge above income 50 lakhs is applicable on total income or taxable income ?
say total income is 60 lakhs which includes LTGS from shares 20 lakhs then whether surcharge is applicable?
surcharge above income 50 lakhs is applicable on total income or taxable income ?
say total income is 60 lakhs which includes LTGS from shares 20 lakhs then whether surcharge is applicable?
Taxable income
Dear Sir,
As such the Net Total Income (i.e amount after deducting Chapter VI A deductions from Gross Total Income) is always after considering (i.e deducting) exempt income, therefore no question of Surcharge would arise as your net total income would never include exempt incomes.
Thanks and Regards,
Dhrunil Bhatt
Karia Overseas
Ahmedabad
CA
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