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 ITAT adjudicated a tax dispute regarding surcharge levying on a private discretionary trust. The tribunal held that despite maximum marginal tax rate application, surcharge cannot be imposed when total income falls below Rs. 50,00,000/- threshold prescribed under the Finance Act. The Special Bench clarified surcharge computation must reference specific slab rates, and in this instance, since assessee's income was substantially lower than prescribed limit, no surcharge could be legally levied. Consequently, the assessee's appeals were allowed, effectively nullifying the disputed surcharge assessment.
TaxTMI 
TaxTMI 
