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Income tax

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02 March 2015 Sir i have a question can you please answer me - if a man earn 1 cr in a year it means he had to pay 30 % income tax + 12 % super rich tax it means total 42 % tax it means totally 42 lakh tax he should pay ???
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
02 March 2015 12% SC for Income more than 1 Cr. If its exact 1 Cr SC will not be applicable.

Its 30% + 12% of 30% + 3% cess. So total will be 34.608%
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