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what is the limit for surcharge on taxable income

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(Querist)
03 September 2008 Sir,

Please clarify when surcharge of 10% is calculated on income tax.

what is the basis for deduction? whether it is on the basis of taxable income exceeds 10 lac p.a. (or) after deduction of exemption limit of Rs1.50 lac from taxable income.

thanking you,

MTNI
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Jitender

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Jitender (Expert)
03 September 2008 individual /huf- in excess of 10 lac
co /firm - when taxable income exceeds 1 crore.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
03 September 2008 Yes, Jitender is right
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