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What is surcharge and how it is computed?

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....ceeds Rs. 1 crore. Surcharge is levied @ 15% of income-tax where the total income of the taxpayer exceeds Rs. 1 crore but doesn't exceeds Rs. 2 crore.(*). Surcharge is levied @ 25% of income-tax where the total income of the taxpayer exceeds Rs. 2 crore but doesn't exceeds Rs. 5 crore(*). Surcharge is levied @ 37% of income-tax where the total income of the taxpayer exceeds Rs. 5 crore(*). ....

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Full Text of the Document

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....e is levied at 7% if total income exceeds Rs 1 crore but doesn't exceeds Rs. 10 crore and surcharge is levied at 12% if total income exceeds Rs 1 crore. In case where a co-operative society opted for the alternative tax regime under section 115BAD or 115BAE, the surcharge is levied at a rate of 10% on total income of Rs. 1 crore or more. In case of a domestic company surcharge is levied @ 7% on th....

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