banner_ad

tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.
Profile Image

VISHAL KUMAR SHAW

Profile Image

VISHAL KUMAR SHAW (Expert)
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.
Profile Image

vinod rajpal

Profile Image

vinod rajpal (Querist)
10 March 2009 Thank You
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!




Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details