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Deduction of tax at source under section 193 read with section 197(1)/(2) of the Income-tax Act, 1961-Interest on Government Securities-Levy of surcharge on incomes-Regarding
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....ities-Levy of surcharge on incomes-Regarding Circular No. 506 Dated 22/2/1988 To All Accountants-General & Comptrollers, Accountant-General, Post & Telegraph, Simla, Deputy Accounta....
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.... intimated to you. 2. It is brought to your notice that by section 3 of the Finance (Amendment) Act, 1987 (No. 46 of 1987), the First Schedule to the Finance Act, 1987, has been amended. According to this amendment, the amount of income-tax computed on the basis of the aforesaid circular shall be increased by a surcharge for the purpose of the Union calculated at the rate of 5% of such income-t....