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What about sur charge on income tax for the individuals who
crossed 10lks for the year 2009-10
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Answer / rajesh
Hai in the FY 2009-10 there is no Surcharge for crossing 10
lacs. until the FY 2008-09 it was 10% Surcharges if the
income crosses more than 10 lacs
| Is This Answer Correct ? | 12 Yes | 0 No |
Answer / sethunarayanan
from the finacial year 2009-10 the surchrge becomes nil for
the individual whose income crossed 10lks
| Is This Answer Correct ? | 5 Yes | 3 No |
what is mean by wct
Beginning Balance, Dec. 31, 20xx Creditable Income Tax 211,829.00 Income Tax Payable (132,808.00) > Balance 79,021.00 ITR (1st Quarter) - Jan. 31, 2016 - Mar. 31, 20xx Normal Tax (30% of Taxable Income) 2,205.02 MCIT (2% of Gross Income) 7,865.71 Aggregate Income Tax Due (Normal Tax vs. MCIT whichever is hihger) 7,865.71 Less: Tax Credits/Payments Prior Years Excess Credits 79,021.00 Creditable Tax Withheld - 79,021.00 Tax Payable, per return (71,155.29) What should be the entry in my book to record the above transactions? Thank you!
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