Tax
Surcharge
Also known as: Additional Tax on High Income
Additional tax on high-income earners - varies from 10% to 37% based on income level.
Detailed Explanation
Surcharge is additional tax levied on taxpayers with income above ₹50 lakhs. Rates vary: 10% on income between ₹50L-₹1Cr, 15% between ₹1-2Cr, 25% between ₹2-5Cr, and 37% above ₹5Cr. For capital gains, different surcharge rates and marginal relief provisions apply. Surcharge is calculated on basic tax liability before cess.