TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The ITAT held that the levy of surcharge at 37% on income including interest u/s 234F was incorrect. The maximum marginal rate refers to the income tax rate, including surcharge if applicable, for the highest income slab specified in the Finance Act. Surcharge is leviable only when the total income exceeds Rs. 50 lakhs. Since the assessee's income was Rs. 1,27,095/-, surcharge could not be levied. The AO was directed not to levy surcharge as the assessee's income was below Rs. 50 lakhs. The ITAT allowed the grounds raised by the assessee.
TaxTMI 
TaxTMI 
