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SURCHARGE ON TOTAL INCOME REG

Others 268 views 6 replies
I am an individual my total income is Rs.1,00,18,528/ includes Long Term Capital Gain is about Rs.14,00,000/.What is Surcharge rate for income tax Calculation.Because surcharge rate is 10% upto 50/ Lakhs and above 1 Crore it is 15%.Long term capital gain goes in special rate.Kindly Clarify.
Replies (6)
10% tax in excess of Rs.1 lac.
LTCG is exempted upto 1 lakh and after that but is taxable at 10%
10% in excess of Rs.1 lac.
In my case I have sold a site 112A Applicable or not Clarify...

Long term Capital Gains on the sale of real estate are taxed at 20% after the indexation benefit. 

Long-term capital gains over Rs 1 lakh on listed equity shares are taxable at 10% without the benefit of indexation. Here the shares are sold through a recognised stock exchange where STT has been charged.  

 

 

Are you asking about capital gains?

Or about surcharge?

They are both completely different things and not related to each other.

The only link between the two is that all your income (including capital gains) is added up to determine if you are subject to surcharge.

If yes, then the surcharge is applied on the income tax amount (and not on any income figures)m


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