Surcharge for the assessment year 2000-01 :10 per cent of income-tax if total income of a resident exceeds Rs. 60,000 (no surcharge is payable in the case of a non-resident. If a person, having taxable income exceeding Rs. 60,000, is eligible for tax rebate under sections 88 and 88B, then first calculate income-tax on his income, from the tax so calculated deduct tax rebate under sections 88 and 88B and 10 per cent of the balancing amount is surcharge. Further, in the case of a person having a total income of exceeding Rs. 60,000, the total amount payable as income-tax and surcharge shall not exceed the total amount payable as income-tax on total income of Rs. 60,000 (i.e., Rs. 1,000) by more than the amount of income that exceeds Rs. 60,000.

Surcharge : Nil for the assessment year 1999-2000 and 10 per cent of income-tax for the assessment year 2000-01 (no surcharge is payable in the case of a non-resident).

In the case of a foreign company

• Royalty received from Government or an Indian concern in pursuance of an agreement made by it with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made by it after February 29, 1964 but before April 1, 1976, and where such agreement has, in either case, been approved by the Central Government. 50%
• other incomes : 48%