WHAT WILL BE THE SURCHARGE AMOUNT AND MARGINAL RELIEF ON GROSS SALARY INCOME OF Rs. 2,03,00,000 (UNDER OLD REGIME) AND LTCG ON PROPERTY (WITH INDEXATION) OF Rs. 3,10,00,000 FOR THE FINANCIAL YEAR 2023-24.
2 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5156 Points)
Replied 26 October 2024
Tax liability (20% of LTCG): Rs. 62,00,000 - Surcharge (10% of tax liability): Rs. 6,20,000 -
In this case, the surcharge on salary income is Rs. 6,33,750, which is less than the tax liability.
kshitij agrawal
(12 Points)
Replied 28 October 2024
On salary income you will get marginal relief of 393750 if that is your only income. surcharge on capital gain depends on your net taxable capital gain.
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