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Marginal TAX relief

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(Querist)
10 December 2024 sir
fy 2023-24
As per the marginal tax relief, the amount of tax one needs to pay on income between Rs. 7,50,001 and Rs. 7,77,778 is the additional income above Rs 7.5 lakh and not the tax liability as per the slabs. This helps in avoiding a situation where a marginal increase in taxable income leads to a much higher increase in tax outgo. So, in the case of Person B, the actual tax liability will be Rs. 10,000 and not Rs. 27,040. We can see the table below for the actual tax liability across other income levels.
how much in fy 2024-25 ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
14 December 2024 No change. Same as for FY 2023-24.
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HIRENKUMAR

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HIRENKUMAR (Querist)
16 December 2024 Thank u very much sir
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
16 December 2024 You are welcome.
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