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SURCHARGE ON TOTAL INCOME REG

24 May 2022

I am an individual my total income is Rs.1,00,18,528/ includes Long Term Capital Gain is about Rs.14,00,000/.What is Surcharge rate for income tax Calculation.Because surcharge rate is 10% upto 50/ Lakhs and above 1 Crore it is 15%.Long term capital gain goes in special rate.Kindly Clarify.

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6 Replies

sabyasachi mukherjee (27276 Points)
Replied 24 May 2022

10% tax in excess of Rs.1 lac.

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Ravita Jain (78 Points)
Replied 25 May 2022

LTCG is exempted upto 1 lakh and after that but is taxable at 10%

sabyasachi mukherjee (27276 Points)
Replied 25 May 2022

10% in excess of Rs.1 lac.

MEENA VIVEK (250 Points)
Replied 25 May 2022

In my case I have sold a site 112A Applicable or not Clarify...

CA Puja Sharma (Chartered Accountant) (4984 Points)
Replied 25 May 2022

Long term Capital Gains on the sale of real estate are taxed at 20% after the indexation benefit.

Long-term capital gains over Rs 1 lakh on listed equity shares are taxable at 10% without the benefit of indexation. Here the shares are sold through a recognised stock exchange where STT has been charged.