Dear Freinds,
can anyone give me excepmtion limit for surcharge on income tax for individual who has only salary income
one of my collegue is earning a taxable salary of Rs. 30,00,000/- p.a
should i calculate surcharge on income tax
thanx in advance
4 Replies
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 17 June 2010
the surcharge is abolished on Individuals. Therefore the TDS is to be deducted without surcharge i.e. by 2.06 % even if the payment exceeds Rs. 10 lacs.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 17 June 2010
Finance Act 2009 has abolished surcharge on the individuals with effect from 01-04-2009 onwards so there is no need to deduct surcharge. So general slabs will be applicable.
SIVASIVA
(FCA, Future CA)
(4935 Points)
Replied 17 June 2010
Thanks sudhanshu i have this doubt a long time.
now cleared.
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