Maximum marginal rate

10 April 2014

Is Maximum Marginal Rate 30% ?

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6 Replies

CA Deepesh Ruhela (Keen to Learn) (3271 Points)
Replied 10 April 2014

Yes, in case of Resident. 40% in case of Non Resident.

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Sanmitra Sanjeev Ratnaparkhi (-) (223 Points)
Replied 10 April 2014

Thank you Sir!

Have a great time ahead!!

One last doubt, does NR, here, means a foreign company?

CA Deepesh Ruhela (Keen to Learn) (3271 Points)
Replied 10 April 2014

yes...individual non resident and foreign company.

Sanmitra Sanjeev Ratnaparkhi (-) (223 Points)
Replied 10 April 2014

But, in case of individual NR, the max. rate is 30% (i.e. above 10L). Then how 40% ?

CA Deepesh Ruhela (Keen to Learn) (3271 Points)
Replied 11 April 2014

sorry...you are right...maximum marginal rate for individual NR, is 30 % and for foreign company it is 40%.

Sanmitra Sanjeev Ratnaparkhi (-) (223 Points)
Replied 11 April 2014

Please don't be sorry Sir!

BTW, Thanks for the help!

Have a great time ahead!!

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