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
No
Ravi Sharma (84 Points)
02 June 2018
Ravi Sharma
(84 Points)
Replied 03 June 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160742 Points)
Replied 03 June 2018
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........
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