Surcharge on advance tax: graduated rates introduced for taxpayers with specified income, with special rules for certain companies. Amendments to section 2(9) introduce a graduated surcharge on advance tax for individuals, associations, bodies and certain artificial juridical persons with income under the special investment regime, prescribing percentage rates across income bands, excluding certain types of income from particular bands and capping surcharge on that income; they also exclude domestic companies taxed under the two concessional company regimes from some provisos and add a separate ten per cent surcharge on advance tax for such domestic companies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Surcharge on advance tax: graduated rates introduced for taxpayers with specified income, with special rules for certain companies.
Amendments to section 2(9) introduce a graduated surcharge on advance tax for individuals, associations, bodies and certain artificial juridical persons with income under the special investment regime, prescribing percentage rates across income bands, excluding certain types of income from particular bands and capping surcharge on that income; they also exclude domestic companies taxed under the two concessional company regimes from some provisos and add a separate ten per cent surcharge on advance tax for such domestic companies.
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