praveen kumar
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Chirag
answered
Dear,
In the A.Y.2015-16 the Surcharge rate for individual is 10% however such surcharge rate increased in A.Y. 2016-17 (F.Y. 2015-16) is 12%. In case of company/ partnership firm and others for A.Y. 2015-16 surcharge rate if income exceeds 1 cr but upto 10 cr than 5% and income exceed 10 cr. than 10%, however in case of foreign companies such rate is update by 2% and 5% as well.
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HIMANSHU
answered
Hello
In the A.Y.2015-16 the Surcharge rate for individual is 10% however such surcharge rate increased in A.Y. 2016-17 (F.Y. 2015-16) is 12%. In case of company/ partnership firm and others for A.Y. 2015-16 surcharge rate if income exceeds 1 cr but upto 10 cr than 5% and income exceed 10 cr. than 10%, however in case of foreign companies such rate is update by 2% and 5% as well.
acharya
answered
In the A.Y.2015-16 the Surcharge rate for individual is 10% however such surcharge rate increased in A.Y. 2016-17 (F.Y. 2015-16) is 12%. In case of company/ partnership firm and others for A.Y. 2015-16 surcharge rate if income exceeds 1 cr but upto 10 cr than 5% and income exceed 10 cr. than 10%,
SONIYA
answered
For the financial year 2015-16 & Assessment Year 2016-17
**Surcharge** is leviable @ of 12% where taxable income is more than Rs. 1 crore - > incase of individual , HUf & firm.
**However for Domestic companies the **rate of **surcharge**** is as under** :-
1. Where taxable income is more than Rs. 1 crore but less than 10 crore the rate of surcharge is 7%
2. Where taxable income is more than Rs. 10 crore , the rate of surcharge is 12%
**And for foreign companies the **rate of **surcharge**** is as under :-**
1. Where taxable income is more than Rs. 1 crore but less than 10 crore the rate of surcharge is 2%
2. Where taxable income is more than Rs. 10 crore , the rate of surcharge is 5%
Note : surcharge is in addition to cesses leviable on tax , and one can claim marginal relief .
rama
answered
Dear Praveen
The Surcharge rates applicable
Other than companies exceeding Rs.1 Crore, the rate applicable is 12%
For Domestic companies >1 crore and <10 crores , the rate is 7%
>10 croes, the rate applicate is 12%
Foreign Companies >1 crore and <10 crores , the rate is 2%
>10 croes, the rate applicate is 5%
Rama
CHITRANJAN AGARWAL
answered
Dear Praveen,
In the A.Y.2015-16 the Surcharge rate for individual is 10% however such surcharge rate increased in A.Y. 2016-17 (F.Y. 2015-16) is 12%. In case of company/ partnership firm and others for A.Y. 2015-16 surcharge rate if income exceeds 1 cr but upto 10 cr than 5% and income exceed 10 cr. than 10%, however in case of foreign companies such rate is update by 2% and 5% as well.
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CA Chitranjan Agarwal
