Can anybody tell me why government charges surcharge separately instead of charging income above 10,00,000 @ 33%.
Taxguy
(Consultant)
(3383 Points)
Replied 02 May 2008
A Surcharge is levy of the Union government, whihc is in addition to Duties, Taxes that can be levied by the Union. Article 271 of the Constitution of India empowers such a levy. Article 271 is given below for ready reference. 271. Surcharge on certain duties and taxes for purposes of the Union.- Notwithstanding anything in articles 269 and 270, Parliament may at any time increase any of the duties or taxes referred to in those articles by a surcharge for purposes of the Union and the whole proceeds of any such surcharge shall form part of the Consolidated Fund of India.
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