Guide to .. Tax Management ,Tax Planning and Tax Saving

 

 

Normal ‘Tax Rates’ applicable to ‘Local Authorities’

Local Authorities are Taxable at the Rate of 30%.

Note :

Surcharge - Surcharge is 12% of income-tax if net income exceeds Rs. 1 crore.

It is subject to marginal relief ( in the case of a local authority having a net income of exceeding Rs. 1 crore, the amount payable as income tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 1 crore by more than the amount of income that exceeds Rs. 1 crore).

Health and Education Cess - It is 4% of income-tax and surcharge.

 
 

You may also like ...

 

TallyPrime Book @ Rs.600
Tally.ERP9 Book @ Rs.550

| About Us | Privacy Policy | Disclaimer | Sitemap |
© 2021 : IncomeTaxManagement.Com