MMRT in Wealth tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 May 2011
In Section 21A of WeAlth tax Act 1957,in certain circumstances Charitable trust are charged to maximum marginal Rate. How is this maximum marginal rate calculated in Wealth tax? Kindly specify the rate & its caculation.
27 May 2011
The rate of 1% is the applicable rate.
The MMR is no more applicable.
The MMR is no more applicable.
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