Writing

Subject: Applicability of Maximum Surcharge @25% under Section 115BAC for Discretionary Trust (AOP)

I have a discretionary trust assessed in the status of an AOP. For FY 2024–25 (AY 2025–26), the return of income was filed opting for the new tax regime under Section 115BAC.

While computing tax liability, surcharge was restricted to 25% in accordance with the provisions of Section 115BAC, which provides for a maximum surcharge of 25%.

However, in the intimation received under Section 143(1), the Income Tax Department has recomputed the tax liability by applying surcharge at 37%.

In this regard, clarification is sought on the following:

Whether a discretionary trust (taxed as AOP) opting for Section 115BAC is eligible for the capped surcharge rate of 25%.
Whether the CPC is justified in applying surcharge at 37% despite the assessee opting for Section 115BAC.
Whether rectification under Section 154 would be the appropriate remedy in this case.

It is my understanding that under the amended provisions applicable for AY 2025–26, the maximum surcharge under Section 115BAC is restricted to 25% for all eligible assessees, including AOPS- Private discretionary trust.

Kindly provide your expert opinion on the correctness of the department’s adjustment.

Thanking you.

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Sir,
Please see the below case .if a person salary is as below.

Basic 25000 PF 3000
Other Allowance 50000 PT 200
Gross Salary 75000 Net Pay 71800

If a person is absent for 15 days no leave on account in that case he will get salary as under

Basic 12500 PF 1500 or PF 1800
Other Allowance 25000 PT 200
Gross Salary 75000 Net Pay 35800

in this case PF Should be 1500 or 1800 because his master rate of Basic is more than 15000/-pm

Please confirm.

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Dear Experts,

The assessee has taxable income from salary and other sources of 52 lacs after claiming standard deduction and NPS Benefit under new regime. He has long tram capital loss of Rs. 300000/-. Is he suppose to pay surcharge @ 10% on tax on 52 lacs income or his income would be considered below 52 lacs after deducting capital gain loss of 3 lac?

Please guide.

Dear Sir,
I want to file updated ITR-3 Sfor AY 21-22 but my total income well below 250000. I think I can still file with 1000 penalty by showing increased income of more than 250000 but less than 500000 by 31st March,2026. My meagre income was as follows:

Savings bank interest: 2700
Equity STCG: 3000
Speculative income: 70


Can some esteemed CA or learned person from this forum help me to advice which type of income can I show in ITR in IFOS schedule which isn't getting reflected in AIS but to file to keep clean track records of ITR filing in the eyes of ITD?
Thanks a lot

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