Pending professional review. This content was drafted with Claude from official sources and has not yet been reviewed by an ArthaKara professional. Verify against the official sources before relying on it.
Simple meaningAn extra tax on income tax for high incomes.
Relevant ActFinance Act (annual)
Section / ruleFirst Schedule
Technical meaning
An additional levy on income tax at rates set by the Finance Act where total income exceeds Rs 50 lakh, subject to marginal relief.
Practical example
Income of Rs 60 lakh attracts a 10% surcharge.
Related terms
Official reference
Finance Act (annual), First Schedule
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