Section 3 - Amendment of the First Schedule - Finance (Amendment) Act, 1987

3. Amendment of the First Schedule. In the First Schedule to the principal Act, (a) in Part II, the following shall be added at the end, namely: Surcharge on income-tax The amount of income-tax computed in accordance with the provisions of sub-item (a) of item 1 and sub-item (a) of item 2 of this Part shall be increased by a surcharge for purposes of the Union calculated at the rate of five per cent. of such income-tax. ; (b) in Part III, (i) in the opening portion, after the words in that Chapter or section , the words, figures and letter or surcharge on such advance tax in respect of any income chargeable to tax under section 115B shall be inserted; (ii) the following shall be added at the end, namely: Surcharge on income-tax The amount of income-tax computed in accordance with the provisions of Paragraphs A, B, C, D and item 1 of Paragraph E of this Part shall, in the case of every person having a total income exceeding fifty thousand rupees, be increased by a surcharge for purposes of the Union calculated at the rate of five per cent, of such income-tax: Provided that no such surcharge shall be payable by a non-resident. .