IS surcharge applicable on Individual or not?
This query is : Resolved
29 June 2010
if a person taxable income more than 10 lacs then surcharge applicable on income or not? & is applicable on company or not if yes than what is limit for it
29 June 2010
Surcharge not applicable on individuals from 01.04.2009 i. e. from F. Y. 2009 - 10.
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29 June 2010
Surcharge on Income Tax: -
Surcharge on income-tax for the assessment years 2009-2010 and 2010-11 will be as follows : -
A.Y. 2009-10
Individual/HUF/AOP/
BOI if net income
does not exceed Rs.
10 Lakh. Surcharge is NIL
Individual/HUF/AOP/
BOI if net income
exceeds Rs. 10 Lakh.Surcharge is 10%
A.Y. 2010-11
Individual/HUF/AOP/
BOI if net income
does not exceed Rs.
10 Lakh. Surcharge is NIL
Individual/HUF/AOP/
BOI if net income
exceeds Rs. 10 Lakh. Surcharge is NIL
Surcharge on income-tax for the assessment years 2009-2010 and 2010-11 will be as follows : -
A.Y. 2009-10
Individual/HUF/AOP/
BOI if net income
does not exceed Rs.
10 Lakh. Surcharge is NIL
Individual/HUF/AOP/
BOI if net income
exceeds Rs. 10 Lakh.Surcharge is 10%
A.Y. 2010-11
Individual/HUF/AOP/
BOI if net income
does not exceed Rs.
10 Lakh. Surcharge is NIL
Individual/HUF/AOP/
BOI if net income
exceeds Rs. 10 Lakh. Surcharge is NIL
30 June 2010
Surcharge AY 2009-10 for individual & HUF
If Income> 10 LAcs, then @ 10% of income+ cess
If not, NIL
For AY 2010-11, Surcharge Abolished
If Income> 10 LAcs, then @ 10% of income+ cess
If not, NIL
For AY 2010-11, Surcharge Abolished
30 June 2010
Agree with CA Pujash, individual have income more than Rs. 10 lakhs per annum then surcharge will be applicable @10%.
30 June 2010
3 Experts replying the saem thing what was said in the first place.
30 June 2010
Dear Mr. Aditya,
Year has not mentioned in the question.
You have replied for the year F.y. 2009-10.
How wuold you know that Jitender is asking for the year f.y. 2009-10.
I thought your reply was not in detail.
Year has not mentioned in the question.
You have replied for the year F.y. 2009-10.
How wuold you know that Jitender is asking for the year f.y. 2009-10.
I thought your reply was not in detail.
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30 June 2010
The user had already thanked the reply mentioned. In case he needed any details he would have mentioned.
Anyways let it be. Thank u all for replying and giving more detailed answer. It might help some one else searching for some this answer.
Anyways let it be. Thank u all for replying and giving more detailed answer. It might help some one else searching for some this answer.
30 June 2010
U SHOULD THANK THE EXPERTS AT LEAST WE HAVE DETAILED WHAT WE WANTED TO REPLY& THE WAY WE WANTED IT TO BE REPLIED
...MANY A TIMES PEOPLE REPLY "AGREED" OR AGREE WITH ABOVE...THAT'S IT.
...MANY A TIMES PEOPLE REPLY "AGREED" OR AGREE WITH ABOVE...THAT'S IT.
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30 June 2010
I have already thanked CA. SANAT PYNE for his reply.
Also Pujah your reply is incorrect.
You have replied
Surcharge AY 2009-10 for individual & HUF
If Income> 10 LAcs, then @ 10% of income+ cess
Whereas if income exceeds Rs. 10 lakhs for A. Y. 2009 - 10 it is only 10% of tax on income. Cess is calculated on tax + surcharge.
Also Pujah your reply is incorrect.
You have replied
Surcharge AY 2009-10 for individual & HUF
If Income> 10 LAcs, then @ 10% of income+ cess
Whereas if income exceeds Rs. 10 lakhs for A. Y. 2009 - 10 it is only 10% of tax on income. Cess is calculated on tax + surcharge.
30 June 2010
AGREE WITH ADITYA JI AND PYNE JI.......BUT PUJAH JI YOUR REPLY WAS NOT CORRECT.
ALSO ADITYA JI IF YOUR REPLY IS THANKED IT CAN ONLY BE VIEWD BY YOU AND NOT OTHER EXPERTS. SO PYNE JI WAS CORRECT IN GIVING DETAILS. NOTHING WRONG WITH THAT.
ALSO ADITYA JI IF YOUR REPLY IS THANKED IT CAN ONLY BE VIEWD BY YOU AND NOT OTHER EXPERTS. SO PYNE JI WAS CORRECT IN GIVING DETAILS. NOTHING WRONG WITH THAT.
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30 June 2010
Ok.. I didnt knew of this.. "IF YOUR REPLY IS THANKED IT CAN ONLY BE VIEWD BY YOU AND NOT OTHER EXPERTS"
That is why thanks to PYneji is not showing.
Thanks for the clarification.
That is why thanks to PYneji is not showing.
Thanks for the clarification.
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30 June 2010
I think I have been misunderstood
by above I meant surcharge is 10% of income tax, plus cess (which is 3% on income tax incl surcharge) is payable.
probably I have not been able to communicate properly. Regret the same .
And Aditya, ur thanx & my prev comment came at almost same time, so I didn't know of your thanx.
Anyways hope all's well now
by above I meant surcharge is 10% of income tax, plus cess (which is 3% on income tax incl surcharge) is payable.
probably I have not been able to communicate properly. Regret the same .
And Aditya, ur thanx & my prev comment came at almost same time, so I didn't know of your thanx.
Anyways hope all's well now
30 June 2010
All is well, but surcharge is 10% of income tax on income and not simply on income. Or your defination of income means income tax on income i think by the reply.
30 June 2010
:D all's really not seem to be going well...u guessed it correctly
I have corrected my reply sir...
Thank you
I have corrected my reply sir...
Thank you
30 June 2010
agree aditya sir ,surcharge is levied on tax not on income.
30 June 2010
you written "3 Experts replying the saem thing what was said in the first place."
we have freedom to express ourself.
we have freedom to express ourself.
30 June 2010
BUT RAVINDRA JI YOU EARLIER AGREED WITH PUJAH. CAN YOU EXPLAIN?
30 June 2010
Respected sanjay sir, i know this is a mistake done by pujah but rectify after that. i committed a mistake also, so i corrected my self also, it is only presentation mistake, not conceptually.
30 June 2010
How can u say it is just a conceptual mistake as it make a huge difference if surchage is paid on income tax and surcharge is paid on income and cess.
We look upto u as u are a very senior member for your guidance.
Also now all was well with the other two and now for u too seperately.
Also regarding u mentioning that u have freedom to express urself there are more than 20,000 open queries which is open for views of the all the experts rather than expressing views on resolved queries.
So better not to discuss that here.
We look upto u as u are a very senior member for your guidance.
Also now all was well with the other two and now for u too seperately.
Also regarding u mentioning that u have freedom to express urself there are more than 20,000 open queries which is open for views of the all the experts rather than expressing views on resolved queries.
So better not to discuss that here.
30 June 2010
Lets all just forget about this post and alls well between everyone now...
30 June 2010
yes surchage applicable for companies.
30 June 2010
It was 10% upto the assessment year 2010-11.
From A.Y. -2011-12 it will be 7.5%
(provided income will cross 1 crore)
From A.Y. -2011-12 it will be 7.5%
(provided income will cross 1 crore)
04 July 2010
Surcharge on income-tax for the assessment year 2010-11 will be as follows : -
Domestic company if net income exceeds Rs. 1 Crore 10%
Foreign Company if net income exceeds Rs. 1 Crore 2.5%
Domestic company if net income exceeds Rs. 1 Crore 10%
Foreign Company if net income exceeds Rs. 1 Crore 2.5%
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