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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