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Saturday, March 05, 2016

SUPER RICH INCOME TAX - Budget 2016-17

SUPER RICH Income TAX - Budget 2016-17
* Surcharge (Tax on Tax) for individuals having income more than Rs.1 crore increased from 12% to 15%

* Increase in surcharge from 12% to 15% on HUFs having income exceeding  Rs. 1 crore.

* The tax at the rate of 10% of gross amount of dividend will be
payable by the recipients, that is, individuals, HUFs and firms receiving dividend in excess of Rs. 10 lakh per annum.

SUPER RICH INCOME TAX - Budget 2016-17 Reviewed by S. Chitra on March 05, 2016 Rating: 5 SUPER RICH Income TAX - Budget 2016-17 * Surcharge (Tax on Tax) for individuals having income more than Rs.1 crore increased from 12% ...

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