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maximum marginal rate

Rishi Jhajharia (390 Points)

29 December 2018

about MMR

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4 Replies

Sumit Sarswat (Student) (3154 Points)
Replied 30 December 2018

MMR is 30+15+3% = 35.535%

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soma chandrika sangoju (0) (96 Points)
Replied 30 December 2018

Sir,
Now that 3% replaces with 4% for the A.Y 2019-20

Sumit Sarswat (Student) (3154 Points)
Replied 30 December 2018

then it will be 30+15+4% = 35.88%

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Sushila kashyap (9 Points)
Replied 31 December 2018

Section 2(29C) of the Income Tax Act, 1961 defines "Maximum Marginal Rate" to mean the rate of income tax (including surcharge on income-tax, if any) applicable in relation to the highest slab of income in the case of an individual, AOP or BOI, as the case may be, as specified in the Finance Act of the relevant previous year.