Question

calculate marginal relief on RS.65,00,000​

Answer 1

Answer:

Marginal relief can't be given since the income earned is more than the tax payable.

The tax payable is

2,50,000*0%=0

2,50,000*5%=12500

5,00,000*20%=1,00,000

55,00,000*30%=16,50,000

The total tax payable including surcharge is 1938750

The tax payable for 50,00,000 is 13,12,500

The difference between the tax payable is6,26,250

The difference between incomes is 15,00,000

Since income is greater than the tax payable marginal relief can't be given

Explanation: