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Surcharge for the company

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(Querist)
08 May 2008 Surcharge is applicable for the company when total income cross 1 crore.This total income is net taxable income after deduction or profit as per P/L Account?
Please guide......
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Amit Sharma

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Amit Sharma (Expert)
08 May 2008 Dear Ravi,

Surcharge is on the net amount i.e.income minus deductions .

Hope you can understood now.
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R.V.RAO

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R.V.RAO (Expert)
09 May 2008 NET TAXABLE INCOME ON WHICH INCOME TAX IS CALCULATED.SURCHARGE IS ON TAX.
R.V.RAO
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