01 April 2017
when the income of AOP is taxed at maximum marginal rate.(30% plus surcharge nd education cess) I want to know whether this surcharge is applicable where total income below 1 crore i.e. applicability of surcharge with max rate of tax is fixed or varied on situation.
and also tell me whether marginal relief is available where surcharge is applicable in above case.
01 April 2017
MMR itself including surcharge and cess,it is maximum tax rate. Till now maximum surcharge is 10%. hence 10% is added in 30%.which is maximum tax slabs.
surcharge on MMR is not depend on 1cr limit. Rate is fix irrespective of income
CAclubindia
