In case of senior citizens
If income is 3,50,000 then no tax(tax exempt and relief u/s 87a
If income increase by 500..
Tax amount is 2525
In case whether marginal Relief concept is apply or not
Menu
Marginal Relief
Replies (5)
No
Correct......
But here also my income increase by 1 Rs and my tax increase..
It is so wrong
It is so wrong
That is the difference between relief u/s. 87A and surcharge over certain income bracket.
Here, additional relief u/s. 87A is given only to the assessees with lower income bracket; otherwise the basic exemption limit would have been increased (but at the cost of tax revenue).
Well, There are other way to save that additional tax...... like donate Rs. 100/- and claim deduction u/s. 80G........
Recent Threads
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
- UNCLAIMED TDS REFUND QUERY
- Rcm payable which head
- Query of GST
- Long Term Capitalgains on sale of residential prop
- How Salaried Individuals Can Reduce Capital Gains
- NSTPI registration
- GST PAID IN DELHI
- How to Trade Forex in India?
Related Threads
CAclubindia
