Marginal Relief on Domestic Company
This query is : Resolved
K.A.SARAVANEN
(Querist)
06 January 2010
Please some one to give illustration on marginal relief for the domestic company having taxable income exceeding 1 crore for the assessment year 2010-11.
Taxable income 3,25,00,000 means, tax and marginal relief?
Taxable income 3,25,00,000 means, tax and marginal relief?
06 January 2010
Tax on Rs. 3,25,00,000 @ 30% = 97,50,000
Add: Surcharge @ 10% = 9,75,000
TOTAL TAX = 1,07,25,000
Tax on Rs. 1,00,00,000 @ 30% = 30,00,000
NOW YOUR INCOME INCREASED = 3,25,00,000 - 1,00,00,000
= 2,25,00,000
BUT TAXALIABILITY INCREASED = 1,07,25,000 - 30,00,000
= 77,25,000
Because Tax Liability is LESS in comparison of Increased Income, therefore there will NOT be any marginal income concept.
Regards!!!
Dinesh S. Adhikari
Add: Surcharge @ 10% = 9,75,000
TOTAL TAX = 1,07,25,000
Tax on Rs. 1,00,00,000 @ 30% = 30,00,000
NOW YOUR INCOME INCREASED = 3,25,00,000 - 1,00,00,000
= 2,25,00,000
BUT TAXALIABILITY INCREASED = 1,07,25,000 - 30,00,000
= 77,25,000
Because Tax Liability is LESS in comparison of Increased Income, therefore there will NOT be any marginal income concept.
Regards!!!
Dinesh S. Adhikari
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