Please Help: Income Tax
Posted Date : 04-Jan-2016 , 05:37:01 pm | Posted By kumarajaysharma
A domestic company,assuming that the total income of the A Ltd company is Rs 10100000 and the total income does not include any income in the nature of capital gain,what will the tax liability of company,?? Please mention tax process..
Category : Income Tax | Answers : 0 | Comments : 1 | Hits : 123
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AMRITA AGRAWAL
16-Jan-2016 , 02:52:02 pmThe amount of income-tax shall be increased by a surcharge at the rate of 5% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 10% of such tax, where total income exceeds ten crore rupees subject to marginal relief ie. total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees. The applicable tax would be :Rs. 3193000 RS 3000000 (Tax) Rs 100000(Surcharge:Excess income over 1 cr) Rs 93000(EC and SHEC)