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%.<\/p>\n
The computarised System in place (CPC), however, auto calculates SC , instead of @the respective slab rate depending on the \u2018income range\u2019,- \u00a0on the rate applicable to over the outer limit of the slab.\u00a0 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 is 15%, subject of course to certain \u2018marginal relief\u2019.<\/p>\n
So much so, in such auto calculation, though clearly exempt, SC on income-tax on the sum of Rs. 50,00,000 (the threshold limit for the first slab) also gets charged.<\/p>\n
Aside: Does this not imply that\u00a0 there is a fundamental deficiency in theSYSTEM ?!<\/p>\n
As per information gathered from limited known circles, it appears that, the surcharge so auto calculated has not at all been challenged but accepted.<\/p>\n
Solicit EXPERT\u2019s opinion whether or not the auto calculation of SC in such manner as aforesaid is in contravention \/ violation of the NEW SURCHARGE scheme-if critically studied and mindfully analysed?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[139],"qa_category":[23],"qa_tag":[1024],"class_list":["post-35372","qa","type-qa","status-publish","hentry","qa_expert-research-team","qa_category-income-tax","qa_tag-surcharge"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/35372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=35372"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35372"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=35372"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=35372"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=35372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}