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222 views • Question added Jan 04, 2016 • Income Tax • By kumarajaysharma , Gurgaon


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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AMRITA AGRAWAL

16-Jan-2016 , 02:52:02 pm

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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