(1) The total income of the block period, determined under section 294 shall be chargeable to tax at the rate of 60%.
(2) The tax chargeable under sub-section (1) shall be increased by a surcharge, if any, levied by any Central Act.

Advocate Shruti Goyal
Advocate
Advocate Shruti Goyal is a legal expert specializing in corporate law and compliance. She writes to simplify legal topics for businesses and individuals alike.