Add Surcharge

Taxes / By

I heard the principle ‘ the higher we go, the cooler it is’. Cooler in tax context would mean more air-

conditioning , viz, more taxes

 To the amount of tax + cess arrived, add surcharge (on higher income groups) as per following:

  1. If Total Income exceeds Rs.50 lacs, then add surcharge of 10%
  2. If Total Income exceeds Rs.1 crore, then add surcharge of 15%.
  3. If Total Income exceeds Rs.2 crore, then add surcharge of 25%.
  4. If Total Income exceeds Rs.5 crore, then add surcharge of 37%