When the total income of an individual exceeds Rs.50 lakhs, the surcharge is payable @

Related MCQs

• When an individual non-resident has total income exceeding Rs. 50 lakhs, the amount of surcharge payable on income-tax would be _____________.
• The maximum marginal rate of tax applicable for individual taxpayer having total income of Rs. 1.5 crore (including surcharge and health & education cess) is ________.
• A senior citizen having total income consisting of pension and let out property income aggregating to Rs. 6 lakhs must have paid advance tax during the financial year 2015-16 of
• Mr. A has loss from regular business of Rs. 8lakhs and income from speculation business of Rs. 11 lakhs. His total income chargeable to tax would be
• When Mr. Avinash earned long-term capital gain of Rs. 1,80,000 on sale of listed shares, his total income being Rs. 10 lakhs, the amount of income-tax (including cess) on the said long-term capital gain would be _________ .
• Rate of surcharge applicable to a foreign company having total income of Rs. 8 crore is :
• Padmaja Power Co. (P) Ltd. is engaged in generation and distribution of electrical power. It avails deduction under section 80-IA. The gross receipts of the company is Rs. 89 lakhs. The last date for filing the return of income in order to be eligible to avail deduction under section 80-IA is ________________ . (Note: Assume there is no extension of time for filling the return of income)
• In the case of a domestic company (turnover/gross receipts Rs. 70 crores), the basic rate of income-tax applicable for computing as per normal provisions would be ________, when the turnover of the company has been Rs. 45 crores in the previous year relevant to the assessment year 2017-18. (Note: Ignore surcharge, education cess, etc.)
• Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
• Tax payable by a resident individual, if he has long term capital gain of Rs. 2,60,000 but has no other income is: