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
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.
18 March 2010
agreed
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