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surcharge on tax above 1000000

Sangeeta Choudhury (53 Points)

10 May 2007

Dear friend

what is the basis of charging surcharge on salary income if it exceeds Rs.1000000

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7 Replies

Rajesh Bajaj (433 Points)
Replied 10 May 2007

Hi Friend
Surcharge is 10% of income tax if net income of an individula , huf, AOP ,BOI , exceeds Rs 1000000

with ragard
Rajesh

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Sangeeta Choudhury (53 Points)
Replied 10 May 2007

Hi

Thanks for the info.ie if taxable income is Rs.1000100 then surcharge will be charged on 255030 or on 30 Rs.only if it is on 255030 is big loss for employee.

Sangeeta Choudhury (53 Points)
Replied 10 May 2007

Hi

Thanks for the info.ie if taxable income is Rs.1000100 then surcharge will be charged on 255030 or on 30 Rs.only if it is on 255030 is big loss for employee.

Rajesh Bajaj (433 Points)
Replied 10 May 2007

Hi Friend

surcharge 10% on Rs 250030

With Ragard
Bajaj

Basavaraj (66 Points)
Replied 10 May 2007

hi Dear,

there is no surchrge for Asst year 2008-2009,
for Asst Year 2007-08 it was 10% on total income

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Rajesh Bajaj (433 Points)
Replied 10 May 2007

Dear Basavarajmvca

for Asst year 2007-08 Surcharge was 10% on income tax Not on [b]Total Income[/b]

Amit Sharma (article) (2677 Points)
Replied 19 December 2007

SURCHARGE OF 10%

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