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Meaning of surcharge in tax

Updated: 9/15/2023
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11y ago

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Surcharge is an extra tax that added to your existing tax calculation. In this regard please refer that the govt add surcharge of 2% above and over your usual tax of 12%. So automatically you have to pay 12%+(2% of 12%),which equals to 12.24% on your taxable amount.

Automatically it may be summarized an extra tax burden to tax payer as it is tax on tax...

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