SUPER RICH Income TAX - Budget 2016-17
* Surcharge (Tax on Tax) for
individuals having income more than Rs.1 crore increased from 12% to 15%
* Increase in surcharge
from 12% to 15% on HUFs having income exceeding Rs. 1 crore.
* The tax at the rate of 10% of gross amount of dividend will be
payable by the recipients, that is, individuals, HUFs and firms receiving dividend in excess of Rs. 10 lakh per annum.
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