Answers On Topic: Surcharge
Appeal to ADMN/ Team of Inhouse Lawers/ CAs(: There has been No UPDATE, till now, on the STATUS of such claims for REFUND, of excess surcharge auto-calculated and collected by the CPC (SYSTEM),- learnt to have been lodged with CPC ,by aggreived taxpayers in acordance with/following the REVENUE's GUIDANCE NOTE released through the ITD Portal ?! None is aware of any good reason for the undue delay in settling the legitimate claims ! Solicit a response ! Request for initiation of proactive steps /effective representation from your side, at least now, to the FM/CBDT , and close follow-up , to…
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Will you please clarify for AY 2024-25 what is the Rate of Surcharge on income-tax on longterm capital gains of Rs. 130000 and what is the marginal relief ?
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https://itatonline.org/digest/qa/the-new-surcharge-scheme-vs-x-auto-calculation-by-cbc/ Apropos /In continuation of earlier posted comments : Pending any FEEDback, no guess why so, invite attention to the supplement @ https://www.linkedin.com/pulse/new-surcharge-scheme-swaminathan-venkataraman/?trackingId=qR9y6OmmTKG1rFalXlUUFg%3D%3D To reiterate / repeat : The subject matter, as urged , deserves a joint representation to the FM/CBDT as a matter of prudence , based on common sense. Proactive steps need to be taken and pursued , relentlessly ,- both jointly and severally, to the end of a favourble outcome aspired for; in preference to postponing such action until after the CPC has started issuing 'INTIMATIONS' in the normal course /as a routine. For, among others, one…
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The NEW SURCHARGE scheme provides for levy of SC on income-tax on total income in the range between Rs 50,00,000 to one crore (first slab), and above. For the said first slab the prescribed rate of SC is 10%. The computarised System in place (CPC), however, auto calculates SC , instead of @the respective slab rate depending on the ‘income range’,- on the rate applicable to over the outer limit of the slab. For examle , if total income in a given case exceeds the threshold limit for the next higher slab- one crore (to two crores), the rate applied…
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Claims for REFUND of EXCESS SURCHARGE under the NEW SURCHARGE SCHEME- REFER PREVIOUS POSTS !