Surcharge on Income Tax | Income Tax Surcharge Rate & Marginal Relief | Dialabank

In this video, we will discuss Surcharge on Income Tax

1. A #SurchargeIncomeTax is an extra fee, as the name suggests.

2. If the asset’s gross #Income in a #FinancialYear reaches the defined #IncomeCap, it is imposed on the current #IncomeTax.

3. The surcharge is paid based on the #taxpayers’ categorization at separate #IncomeTaxSlab rates. Surcharge #IncomeTaxPrices usually vary from 2% to 37 per cent.

4. The surcharge is based on the exceeding amount. A #ParticularPercentage of the existing #PayableTax when the total #income exceeds a specified limit is added to your #TaxLiability.

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