Under the Income-tax Act, 2025, which one of the following statements is not correct?

Surcharge is not calculated on total income. It is levied by the annual Finance Act as a percentage of the income-tax payable, and the total income only decides whether surcharge applies and at what rate. Health and Education Cess is then charged at 4% of the income-tax plus surcharge. The statement about surcharge is therefore the one that is not correct.

The other statements are correct:

Under section 2(11) of the Income-tax Act, 2025, an 'assessee' includes every person in respect of whom any proceeding has been taken for the assessment of his income, of the loss sustained by him or of a refund due to him, even where no tax is payable.
Under section 3(2), the tax year of a newly set-up business or profession, or of a newly arising source of income, begins on the date of setting up (or the date the source comes into existence) and ends with that financial year.
Under section 6(10)(a), a company is resident in India in a tax year if it is an Indian company or if its place of effective management is in India in that year.

(The 2025 Act replaces the separate 'previous year' and 'assessment year' of the 1961 Act with a single 'tax year'.)