Local authority income-tax surcharge capped to limit additional tax burden above the applicable income threshold. The income-tax rate for local authorities for FY 2024-25 remains unchanged. A surcharge applies to income-tax where total income exceeds the statutory ... Summary
Local authority income-tax surcharge capped to limit additional tax burden above the applicable income threshold.
The income-tax rate for local authorities for FY 2024-25 remains unchanged. A surcharge applies to income-tax where total income exceeds the statutory threshold, calculated as a percentage of income-tax. The combined income-tax and surcharge on income above the threshold is capped so that it does not exceed, by more than the excess income, the income-tax payable on income equal to the threshold.
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TaxTMI 
TaxTMI 
