At present surcharge is not levied in case of an Individual/HUF/ AOP/ AJP/Co-operative Societies/ Local Authorities/ Partnership Firms/LLP.
However, in the following cases, surcharge is leviable subject to the conditions:
1. Domestic Companies and the rate is 5 %
2. Foreign Companies and the rate is 2%
Condition:
If the total income exceeds Rs. 1 crore, surcharge is leviable at the aforementioned rates.
Have a look at the below content of Institute of Chartered Accountants of India
However, in the following cases, surcharge is leviable subject to the conditions:
1. Domestic Companies and the rate is 5 %
2. Foreign Companies and the rate is 2%
Condition:
If the total income exceeds Rs. 1 crore, surcharge is leviable at the aforementioned rates.
Have a look at the below content of Institute of Chartered Accountants of India
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