Is surcharge applicable if income is above 50 lacs with majority income as capital gain?

abhimanyu alwani (7 Points)

12 September 2018  

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