Surcharge on income tax adjusted to treat income under sections 111A and 112A differently, with a higher rate for very high incomes.

Amendments to the First Schedule revise surcharge computation by expressly including or excluding income chargeable under sections 111A and 112A in specified sub clauses and clauses, and by adding a provision applying a higher surcharge rate where total income (including such income) exceeds the statutory high income threshold; a proviso limits the surcharge on the tax attributable to income under sections 111A and 112A to that higher rate.

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