Political Science, asked by Mike5542, 8 months ago

How to calculate surcharge and education cess on income tax?

Answers

Answered by shreyanshrajput100
0

Answer:

A Surcharge is calculated on total income tax and not on total income. Criteria for income above Rs. 1 crore is only to check the applicability of Surcharge. Also, note that if a surcharge is applicable then education cess will be calculated on the total amount of income tax plus a surcharge

Explanation:

Answered by vmbashkalp2980
3

Explanation:

A Surcharge is calculated on total income tax and not on total income. Criteria for income above Rs. 1 crore is only to check the applicability of Surcharge. Also, note that if a surcharge is applicable then education cess will be calculated on the total amount of income tax plus a surcharge.

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