The surcharge applicable to a foreign company for Assessment Year 2021-22:

CS Executive · Tax Laws and Practice · PYQS · June 2021
The surcharge applicable to a foreign company for Assessment Year 2021-22:
(A) 5%, if the total income exceeds ₹1 crore
(B) 10%, if the total income exceeds ₹1 crore
(C) 2%, if the total income exceeds ₹10 crore
(D) 2%, if the total income exceeds ₹1 crore but does not exceed ₹10 crore

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D). Official source note: The surcharge applicable to a foreign company for Assessment Year 2021-22 : (A) 5%, if the total income exceeds ₹ 1 crore (B) 10%, if the total income exceeds ₹ 1 crore (C) 2%, if the total income exceeds ₹ 10 crore (D) 2%, if the total income exceeds ₹ 1 crore but does not exceed ₹ 10 crore

Topics: Income Tax Act, 1961

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic