Please Help: Income Tax
Posted Date : 04-Jan-2016 , 05:37:01 pm | Posted By: Kumarajaysharma
Category :
Income Tax | Answers :
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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.. |
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| Posted By : AMRITA AGRAWAL |
16-Jan-2016, 02:52:02 |
| The 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) |
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