Dear Friends
I wanted to know that in case of any individual resident in india assessee and for the financial year 2013-14 having net taxable income of Rs 500010 in that case total tax will be Rs 30902 and if his net taxable income is of Rs 500000 that tax payable would be Rs. 28840/-
So whether in the above case marginal relief will be available or not???
kindly reply..
thanks in advance
Surcharge will be applicable only in case of Individual having taxable income in excess or rs10 crores,So in your case there is no concept of Surcharge and Marginal relief will not arise. Marginal relief will be availble only if you are subjected to Surcharge.
Subrahmanyam & Sivudu CA Firm
Hyderabad
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