Concept of Marginal relief for salary taxpayers

0 Vote(s) - 0 Average

Concept of Marginal relief for salary taxpayers

zaibkapoor
Offline

Junior Member

Posts: 6
Threads: 1
Joined: Jun 2010
Reputation: 0

#2

06-08-2010, 08:33 PM

Dear please find below working as desired.

<b>Income tax as per normal rates (1,470,000*12.5%) Rs. 183,750</b>

Income tax as per Marginal Relief formula

Income tax on maximum slab (1,450,000*11%) Rs. 159,500
Plus
Forty percent of excess amount i.e [(1,470,000-1,450,000)*20] Rs.8,000
<b>Total Income tax as per MR formula (159,500+8000) Rs. 167,500</b>

<b>Income tax liability whichever is lower i.e 167,500</b>

I hope you will find it helpful.

« Next Oldest | Next Newest »

Users browsing this thread:

Messages In This Thread

Concept of Marginal relief for salary taxpayers - by [email protected] - 06-08-2010, 07:37 PM

[No subject] - by zaibkapoor - 06-08-2010, 08:33 PM

[No subject] - by AbdulSamad - 06-09-2010, 04:38 PM

[No subject] - by talha.moin - 06-09-2010, 07:05 PM

[No subject] - by [email protected] - 06-10-2010, 03:07 PM

[No subject] - by talha.moin - 06-10-2010, 04:27 PM

[No subject] - by AbdulSamad - 06-10-2010, 06:30 PM

[No subject] - by [email protected] - 06-10-2010, 07:51 PM

[No subject] - by [email protected] - 06-10-2010, 07:56 PM

[No subject] - by AbdulSamad - 06-10-2010, 08:20 PM

[No subject] - by [email protected] - 06-10-2010, 08:38 PM

[No subject] - by AbdulSamad - 06-10-2010, 08:45 PM

[No subject] - by Mohammad Nadeem - 06-17-2010, 04:05 PM