If Total income is 1000000/-
This query is : Resolved
18 March 2010
Dear sir
if the total income is 1000000/- then
the Singania books say as "the total amount payable as income tax and surcharge can not exceed the total amount payable as income tax on a total income of Rs 1000000/- by more than the amount of income that exceeds Rs 1000000/-"
Please expain the above for the Assessment year 2010-2011. and in that book i could not found any Education cess for the individual who has Rs 1000000/- total income without any excemption he he is getting as assumed in the tables given.
Regards
Ramesh
if the total income is 1000000/- then
the Singania books say as "the total amount payable as income tax and surcharge can not exceed the total amount payable as income tax on a total income of Rs 1000000/- by more than the amount of income that exceeds Rs 1000000/-"
Please expain the above for the Assessment year 2010-2011. and in that book i could not found any Education cess for the individual who has Rs 1000000/- total income without any excemption he he is getting as assumed in the tables given.
Regards
Ramesh
CA SANJAY MUKHERJEE
(Expert)
18 March 2010
There is no surcharge for individual in AY 2010-11. i.e. for financial year 2009-10.
However education cess ( 2+1)i.e 3% is applicable.
However education cess ( 2+1)i.e 3% is applicable.
CA Gangadhar Mishra
(Expert)
18 March 2010
agreed
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