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maximum marginal rate

Pulkit Jain (13 Points)

05 May 2017

where in income tax act specify maximum marginal rate.?

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 05 May 2017

Maximum Marginal Rate (MMR) [Section 2(29C)]: MMR is the rate of income tax (including surcharge, if any) applicable in relation to the highest slab of income, specified in the Finance Act for the relevant year, in the case of the following persons: (a) An Individual, or, (b) An AOP or Body of Individuals. MMR for assessment year 2016-17 is 34.608% (being @ 30% +12% surcharge + 2% EC + 1% SHEC on Income Tax).

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Pulkit Jain (13 Points)
Replied 15 May 2017

thank you so much @ Rashmi Gandhi 😄

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