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bhakti

bhakti (Querist)
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05 March 2010 What is the rate of surcharge for AY2010-11? Has it changed?

Nilesh Shah

Nilesh Shah (Expert)
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07 March 2010 Nilesh Shah Replies:

In the case of every individual, HUF, AOP or BOI surcharge is at 10% if income exceed Rs 10 lakhs.

In the case of a firm and a company surcharge is at 10% if the income exceed Rs 1 Crore.

Sincerely,

Nilesh Shah

bhakti

bhakti (Querist)
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11 March 2010 Nilesh Sir,
The answer which you have given is absolutely wrong.The correct rates are:- No surcharge for individuals, HUF, AOP or BOI.
Surcharge only for domestic companies @10% and 2.5% for foreign companies if income exceeds Rs. ! crore. This amendment is made from AY 2010-11. Please check your rates.

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Nilesh Shah

Nilesh Shah (Expert)
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11 March 2010 Nilesh Shah Relies:

I am extremely sorry for the goof up. The rates described by you are the correct rates.

However, the amendment is not made effective from A.Y 10-11.

The amendment was already in place by the Finance (No 2) Act,2009.

Sincerely,

Nilesh Shah

bhakti

bhakti (Querist)
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12 March 2010 Nilesh Sir,
Thank you for your reply.