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Surcharge
Direct Taxation
For me it is ansr C Bt in the qstn bank it is B . Which one is correct? Nd Y?
Answers (5)
The correct answer is (d) For long-term and short-term capital gain rate of surcharge should not exceed 15%whereas for business income of 90 lakhs the rate is 10% since it is >50 lakhs but <1 cr For determining rate of surcharge don't include capital gain income with other income
Capital gain income is 2.05cr which is more than 2cr but less than 5cr (actual rate is 25%but restricted)so the rate is 15%, for business income it is 10% .the rates are different so single rate can't be taken for whole amount. What I meant by not exceeding 15% is that if suppose income exceeds 2cr then normally the rate of surcharge is 25% but if the same is capital gain income then rate of surcharge is restricted to 15%
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