Applicability of 10% surcharge on income
This query is : Resolved
31 July 2008
Hi,
I have income from
a. Salary,
b. Bank Interest (SB a/c and ICICI Bank Bonds)
c. STCG (Equity and ESOPs)
I want to know:
1. 10% surcharge on income tax is applicable when total income exceeds 10Lacs? Is this correct?
2. Total income will contain a,b and c above less rent paid as HRA, conveyance allowance and any other deductionf from section 10. Is this correct?
Thanks,
Abhishek
I have income from
a. Salary,
b. Bank Interest (SB a/c and ICICI Bank Bonds)
c. STCG (Equity and ESOPs)
I want to know:
1. 10% surcharge on income tax is applicable when total income exceeds 10Lacs? Is this correct?
2. Total income will contain a,b and c above less rent paid as HRA, conveyance allowance and any other deductionf from section 10. Is this correct?
Thanks,
Abhishek
31 July 2008
1. It is correct.
2. Yes, and also you can deduct the investments made under sec 80c from the total income.
2. Yes, and also you can deduct the investments made under sec 80c from the total income.
01 August 2008
thnaks.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
