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Monday, July 08, 2019

Budget 2019-20: Increase of Surcharge on the Total Income


Budget 2019-20:  Increase of Surcharge on the Total Income
While calculating Income Tax, Surcharge of 10% of Income-tax amount be levied on the assesses having an income of Rs. 50 lakh and up to Rs. 1 crore. 
For Income above Rs. 1 crore, the surcharge percentage increases to 15%.
In Budget 2019-20, the Finance Minister Ms. Nirmala has announced two  more slabs:
(A) A surcharge of 25% on total Tax for the Income above Rs. 2 crore to Rs. 5 crore.
(B) A surcharge of 37% on total Tax for the Income above Rs 5 crore.

Budget 2019-20: Increase of Surcharge on the Total Income Reviewed by S Chitra on July 08, 2019 Rating: 5 Budget 2019-20:    Increase of Surcharge on the Total Income While calculating Income Tax, Surcharge of 10% of Income-tax amount be levi...

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