The amount of income tax shall be increased by a surcharge at the rate of 12% of such Income tax in the case of a firm having total income exceeding :

CS Executive · Tax Laws and Practice · PYQS · December 2021
The amount of income tax shall be increased by a surcharge at the rate of 12% of such Income tax in the case of a firm having total income exceeding :
(A) ₹40 lacs
(B) ₹60 lacs
(C) ₹100 lacs
(D) ₹200 lacs

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C). Official source note: The amount of income tax shall be increased by a surcharge at the rate of 12% of such Income tax in the case of a firm having total income exceeding : (A) ₹ 40 lacs (B) ₹ 60 lacs (C) ₹ 100 lacs (D) ₹ 200 lacs

Topics: Income Tax Act, 1961

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