Implications of marginal relief
This query is : Resolved
CA Trinath Galla
(Querist)
23 October 2009
Sir,
As marginal relief was bought into light to avoid hardship for those whose income is slightly greater than Rs. Ten lacs as surcharge is payable by them @ 10% upto A.Y 2009-10.
But now as amended by finance act 2009 no surcharge is payable by assesses(individuals) whose income exceed ten lacs.
My doubt is, then how the implications of the provisions of marginal relief change??/ Does it have any relevance now?
And what are MAXIMUM MARGINAL TAX RATES?
They are given as follows
If income doesn not exceed Rs, ten lacs, 30.9% for both A.y 2009-10 & 2010-11
If income exceeds Rs. Ten lacs, 33.99% for A.Y 2009-10 and 30.9% for A.Y 2010-11.
If marginal relief doesn have relevance now……what are these maximum marginal tax rates for?????
Pls explain clearly
As marginal relief was bought into light to avoid hardship for those whose income is slightly greater than Rs. Ten lacs as surcharge is payable by them @ 10% upto A.Y 2009-10.
But now as amended by finance act 2009 no surcharge is payable by assesses(individuals) whose income exceed ten lacs.
My doubt is, then how the implications of the provisions of marginal relief change??/ Does it have any relevance now?
And what are MAXIMUM MARGINAL TAX RATES?
They are given as follows
If income doesn not exceed Rs, ten lacs, 30.9% for both A.y 2009-10 & 2010-11
If income exceeds Rs. Ten lacs, 33.99% for A.Y 2009-10 and 30.9% for A.Y 2010-11.
If marginal relief doesn have relevance now……what are these maximum marginal tax rates for?????
Pls explain clearly
CA Ravi Sisodia
(Expert)
14 November 2009
https://www.caclubindia.com/experts/experts_message_display.asp?group_id=26276
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