18 December 2010
hi friends , can any one tell me in detail the provision of Marginal relief on SC. what would be surcharge for the A.Y 2008-09 when, LTCG = 901982 Total income excl LTCG = 99230 i did the computation usin a tax computation software and the SC comes to 'Rs.847'.
18 December 2010
Marginal Relief Means Suppose if UR paying Tax on 998000/- Rs. Say IT 100000/- and After That If Income Increase to Say 1020000/- Then U Paying 123000/- as Income Tax Including Surcharge. Then Max Levy of Income Tax Can Be 22000/- That is Difference of ( 1020000-998000).and so on.& Rs. 1000 is Marginal Relief.
But in UR Case Question seem Incomplete as Which Long Term Gain is There Whether @10% or 20%.
CAclubindia
