tax
This query is : Resolved
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.
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.
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.
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.
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
Click here to login now
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
