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Surcharge Calculation

15 November 2024

Can anyone help the formula steps for calculation of Surcharge on income-tax for the attached screenshot of income tax. Please show the calculation steps and method for Surcharge and Marginal Relief.

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5877 Points)
Replied 15 November 2024

To calculate the surcharge on income tax follow these steps.

1.calculate the basic income tax liability without surcharge.

2.determine the applicable surcharge rate ex: 10% or 15 %

3.calculate the surcharge amount by multiplying the basic income tax liability by the surcharge rate.

4.calculate the marginal relief, if applicable (this reduce the surcharge)

5.add the surcharge amount (after marginal relief) to the basic income tax liability to get the total income tax liability.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (181981 Points)
Replied 16 November 2024

Refer:: https://www.paisabazaar.com/tax/surcharge-on-income-tax/

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Ravindranath A (SWO) (35 Points)
Replied 18 November 2024

Sir,

I am not getting the surcharge of Rs. 38,03,125/- as shown in the enclosed screenshot. Could you please provide the details of calculation. Your response is highly appreciated.

Attached File : 592710 20241118112456 download.jpeg downloaded: 34 times

pisowifi (student) (2 Points)
Replied 18 November 2024

Can someone explain how the surcharge is calculated in [specific context, e.g., a sales invoice or tax system]?
I'm particularly interested in understanding:

The formula used.
Any exceptions or special rules.
Examples for clarity.

castle app (2 Points)
Replied 21 December 2024

To calculate the surcharge on income tax, calculate the basic tax liability without surcharge, determine the applicable surcharge rate, multiply the liability by the surcharge rate, calculate marginal relief, and add the surcharge amount.

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Vimusic apk (2 Points)
Replied 26 December 2024

Surcharge calculation typically involves applying a percentage or fixed amount to the base price or tax. For example, if the surcharge is 10% on $100, the surcharge is $10. Adjust based on your specific context or legal guidelines.