n NISM Certifications
NSM General NISM
Medium

What is the main impact of surcharge on income tax?

Practice question from I-B5 Session 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    It reduces tax liability

  2. B

    It replaces income tax

  3. It increases tax payable on higher income

    Correct answer

  4. D

    It removes cess

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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