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Marginal Relief - Excess Tax due to Surcharge - The concept with illustration
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....come of one crore rupees by more than the amount of income that exceeds one crore rupees. An illustration: Assessee ABC Assessee DEF Assessee RST Total income A. 1,00,10,000 99,99,000 1,50,00,000 Rate of Tax 25% 25% 25% Tax Liability B. 25,02,500 24,99,750 37,50,000 Amount Retained after Tax, but....
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