Question And Answer
Subject: Surcharge in case if maximum marginal rate for AOP
Querist: D
Answered by: Reply of the Expert is awaited;
Tags: , ,
Date: July 21, 2023
Query asked by D

A family trust having income by way of mainly dividend income.

Share is defined and all their individual incomes are over maximum amount not chargeable to tax.

Question is whether in the case of surcharge the portion of dividend income will be restricted to 15% as per finance act or full 37% need to be charged or it will depend on surcharge slab as per total income.

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Answer given by
Reply of the Expert is awaited. Please check back later

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4 comments on “Surcharge in case if maximum marginal rate for AOP
  1. vswami says:

    INSTANT Reaction: Going by the purport and tenor of the question raised, one is given the impression that in finding an ANSWER, the comments posted elsewhere are of every relevance, ought not to be slighted or oversighted but need to be given due consideration. Taxpayer should also challenge the levy of surcharge or pursue if already pending in assessment or further proceedings accordingly!?


  2. vswami says:

    Reference is to the comments posted @

  3. vswami says:

    ADD-on (ATTN: ADMN): This adds credence/ one more GOOD PRACTICAL REASON, founded on pure COMMON SENSE, as to why it might be PRUDENT /MOST SENSIBLE to have REPRESENTATIONS made, JOINTLY and SEVERALLY, to the FM/ CBDT to LOOK INTO THE Deficiency in the SYSTEM (CPC) and PLUG IN THE necessary CORRECTIVES AT THE SOONEST. UNLESS and Until THAT HAS BEEN DONE, by any thinking, AUTO CALCULATION OF SURCHARGE MUST BE HALTED; so also processing of tax returns filed by taxpayers in the income range 50 lakhs to over 5 crore rupees and ISSUE of INTIMATIONS in such cases, NEED to be STOPPED!?

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