what Is Surcharge And How It Is Computed?

1.	what Is Surcharge And How It Is Computed?
Answer» Surcharge is an additional tax LEVIED on the AMOUNT of income-tax. In case of individuals/HUF/AOP/BOI/artificial juridical person surcharge is levied @ 15% on the amount of income-tax where the total income of the taxpayer exceeds RS. 1 crore. In case of Firm, co-operative society and local authority surcharge is levied at 12% if total income exceeds Rs 1 crore. In case of a domestic COMPANY surcharge is levied @ 7% on the amount of income-tax. Surcharge is an additional tax levied on the amount of income-tax. In case of individuals/HUF/AOP/BOI/artificial juridical person surcharge is levied @ 15% on the amount of income-tax where the total income of the taxpayer exceeds Rs. 1 crore. In case of Firm, co-operative society and local authority surcharge is levied at 12% if total income exceeds Rs 1 crore. In case of a domestic company surcharge is levied @ 7% on the amount of income-tax.

Answer»

Surcharge is an additional tax LEVIED on the AMOUNT of income-tax. In case of individuals/HUF/AOP/BOI/artificial juridical person surcharge is levied @ 15% on the amount of income-tax where the total income of the taxpayer exceeds RS. 1 crore.

In case of Firm, co-operative society and local authority surcharge is levied at 12% if total income exceeds Rs 1 crore.

In case of a domestic COMPANY surcharge is levied @ 7% on the amount of income-tax.

Surcharge is an additional tax levied on the amount of income-tax. In case of individuals/HUF/AOP/BOI/artificial juridical person surcharge is levied @ 15% on the amount of income-tax where the total income of the taxpayer exceeds Rs. 1 crore.

In case of Firm, co-operative society and local authority surcharge is levied at 12% if total income exceeds Rs 1 crore.

In case of a domestic company surcharge is levied @ 7% on the amount of income-tax.

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