Narrate the provisions of the Income-tax Act, 1961, with respect to surcharge on income-tax for various types of assessees for the assessment year 2015-16.

Provisions of Income Tax Act, 1961 with respect to Rate of Surcharge are discussed below: For resident individuals (including senior citizens and super senior citizens), Cooperative societies, firms and local authorities whose total income exceeds ₹1 crore - 10% on income tax payable. For domestic company having a total income of exceeding ₹1 crore but not exceeding ₹10 crore - 5% on income tax payable. For domestic company having a total income of exceeding ₹10 crore - 10% on income tax payable. For Company other than a domestic company having a total income exceeding ₹1 crore but not exceeding ₹10 crore - 2% on income tax payable For company other than a domestic company having a total income exceeding ₹10 crore - 5% on income tax payable.