For a domestic company, the minimum amount of total income liable for surcharge and the rate of surcharge applicable therein are —

CS Executive · Tax Laws and Practice · PYQS · December 2014
For a domestic company, the minimum amount of total income liable for surcharge and the rate of surcharge applicable therein are —
(A) ₹10 crore and 5% respectively
(B) ₹1 crore and 5% respectively
(C) ₹1 crore and 10% respectively
(D) ₹10 crore and 10% respectively.

Answer & Explanation:

Correct Answer: Option (B)

Correct answer: (B) ₹1 crore and 5% respectively. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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