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Dt ca final please help
Clearly interprete meaning of MMR...it means highest tax rate which can b applied to an individual... i.e. 30+10+3..
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Clearly interprete meaning of MMR...it means highest tax rate which can b applied to an individual... i.e. 30+10+3..
Solution of PM is 100% correct...Surcharge will be charged....MMR mean 30%+10%+3%i.e 33.99%
Shree, you are right that surcharge is charged only if it exceeds 1 crore, but MMR is always charged @ 33.99% only. It is correctly solved according to my opinion.You may also refer Q.50 the last line of the page, there also it is charged @ 33.99%
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