Respected Sir/Mam,
please explain to me what the marginal relief is and how it works.
marginal relief applies to the old tax regime?
and also how it works on surcharge calculation.
The marginal relief on the surcharge in the old tax regime for individuals ,i.e If your income is excess to nearly 1 lac more than 50 lac with that calculation the tax payable is coming 1476750/- ( incld. surcharge 10% ). But now the Government gives the relief of RS.64250/- The difference between the calculated tax for 51 Lac minus 50 Lac .
CAclubindia
