Computation of marginal relief

Direct Taxation

In this income tax on Rs 5 crores is 14812500 how is possible

Ajay Shanmugam

CMA Inter

★ 0

28-Sep-21 10:37

535

Answers (4)

Calculate income tax on Rs. 5 Crores with basic slab rates. up to 2.5L - Nil next 2.5L - 5% next 5L - 20% balance - 30%

Yoga Vishnu

CA Final

★ 11K+

28-Sep-21 10:58

I have tried it but where is 14812500 came I didn't understand

Thread Starter

Ajay Shanmugam

CMA Inter

★ 0

28-Sep-21 11:05

up to 2.5L - Nil next 2.5L - 5% - Rs. 12,500 next 5L - 20% - Rs. 1,00,000 balance 4.9 Crores - 30% - 14700000 Total - Rs. 14812500

Yoga Vishnu

CA Final

★ 11K+

28-Sep-21 11:08

Thank you for your clarification

Thread Starter

Ajay Shanmugam

CMA Inter

★ 0

28-Sep-21 11:11