Answers On Topic: Surcharge
If my total income after charging long term capital gain without getting indexation benefit is above 50 lac but after applying indexation goes below 50 lac, what is the applicability of surcharge
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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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Surcharge