Surcharge on income-tax applies progressively across taxpayer classes, increasing liability for higher income brackets. Income-tax for the assessment year beginning 1 April 2020 is charged at First Schedule rates and increased by applicable surcharges that vary by taxpayer ... Summary
The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
Surcharge on income-tax applies progressively across taxpayer classes, increasing liability for higher income brackets.
Income-tax for the assessment year beginning 1 April 2020 is charged at First Schedule rates and increased by applicable surcharges that vary by taxpayer class and income source; net agricultural income above the statutory de minimis is aggregated with total income solely for rate computation using a specified aggregation-and-subtraction method, advance tax and withholding/collection obligations follow prescribed rates with graduated surcharges and specified caps, and a Health and Education Cess is applied on tax plus surcharge; key definitions for application are included.
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