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Marginal Relief Concept

Hi, I was doing Marginal Relief topic. I wanted to have more clarity on this topic. My answer isn't matching with the answer on screen. So the question is- 1. What are the steps to calculate marginal Relief when the income is Rs. 5,30,00,000 of residual category? I request you to explain it in a more lucid manner than expressed in the illustration of marginal relief.

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Karan Chellani

Karan Chellani

CA Inter

0

22-Jul-20 10:34

61

Answers (1)

Calculation of Marginal relief-Say,Individual total taxable income is 51 lakh in a financial year, applicable surcharge 10% surcharge applicable for 50 lakh and -1 crore. and he will pay 1,35,500 as surcharge,i.e for 1 lakh extra income he will be paying 135500/- so marginal relief of Rs.100,000 is given( means relief was given for variance in income results in tax exceeding over such variance of income.)


KEERTHI PRIYA

KEERTHI PRIYA

CA Inter

695

22-Jul-20 11:19

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