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vinod rajpal (Querist)
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27 February 2009 Hello.There is an example one person earns net taxable salary of 1025810, which is liable for 10 % surcharge. I have calulated his total tax liability as :
tax on 1025810 212743
+10% sur 21274
+edu cess 3% 7021

Totaltaxliability will be 241038.

I want to know whether it is right or not & is there some relief in surcharge or there is some term called as marginal surcharge.

VISHAL KUMAR SHAW

VISHAL KUMAR SHAW (Expert)
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27 February 2009 if the income range is between 10lakhs to 1030590/- then marginal relief is applicable hence in your case marginal relief will be applicable.
The tax payable will be as follows:
Tax on 10 lakhs= 205000/-
add: income exceeding 10 lakhs= 25810/-
total 230810/-
cess @3% 6924/-
tax payable 237734/-

hope your purpose is solved.

vinod rajpal

vinod rajpal (Querist)
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10 March 2009 Thank You

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