The surcharge is 10% of tax for income above ₹50 lakh, 15% above ₹1 crore and 25% above ₹2 crore. Under the old regime it rises to 37% above ₹5 crore, but the new regime caps it at 25%. Marginal relief stops the surcharge from exceeding the extra income that crossed the threshold. A 4% health and education cess is then added on top.
Finance glossary
What is Surcharge?
An additional tax charged on the income tax of people with taxable income above ₹50 lakh.