Surcharge
Definition
An additional tax levied on taxpayers whose income exceeds certain thresholds. Surcharge is calculated on the income tax amount (not on total income). Rates: 10% for ₹50L-1Cr, 15% for ₹1-2Cr, 25% for ₹2-5Cr, 37% for above ₹5Cr (new regime caps at 25%).