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MMR Rate on Accredited Income
As per Section 115TD, accredited income is taxable at MMR. What is the rate application for AY 20-21 on which accredited income will be taxed?
Replies (3)
Quick Summary
Maximum Marginal Rate (42.744% for AY 2020-21)
No, MMR would be 34.944% for Accreted Income under 115TD (30%+12% surcharge +4% cess) just like dividend.
Yes, Right...For all others purposes, Maximum Marginal Rate is 42.744% for AY 2020-21
but for Section 115TD accreted income Maximum Marginal Rate is 34.944% (30%+12% surcharge +4% cess)
but for Section 115TD accreted income Maximum Marginal Rate is 34.944% (30%+12% surcharge +4% cess)
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