Hello All,
I am facing an issue with Income Tax this year( FY 2017-18). I have a Long term capital gain of Rs 54,88,045/- and normal income of Rs 6,16,460/- only.
Now th question is whether i have to pay Surcharge Of 10 % over income tax for the above income? Will Surcharge be applicbale for Income form Capital gain aswell?
Since my usual income lies below 8 lacs, Generally i never paid for surcharge. Now this year with capital gain, the income exceeds 50 lacs.
Is surcharge applicable? Also please suggest me a way to decrease my income tax.
I have alraedy paid Rs 11,50,000/- as advance income tax.
Thanks