08-10-2009, 08:22 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Saqib Bashir</i>
<br />hello,
salam ,
Mr. lap top please tell me that what is marginal releife and how can we claim against it?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
The following is being quoted from the notes provided under Division 1 of Part 1 of First schedule.
"Provided further that where the total income of a taxpayer marginally exceeds the maximum limit of a slab in the table, the income tax payable shall be the tax payable on the maximum of that slab plus an amount equal to â
(i) 20% of the amount by which the total income exceeds the said limit where the total income does not exceed Rs.550,000.
(ii) 30% of the amount by which the total income exceeds in each slab but total income does not exceed Rs.1,050,000.
(iii) 40% of the amount by which the total income exceeds
in each slab but total income does not exceed Rs.2,250,000.
(iv) 50% of the amount by which the total income exceeds in each slab but total income does not exceed Rs.4,550,000.
(v) 60% of the amount by which the total income exceeds in each slab but the total income exceeds Rs.4,550,000".
Unquoted
In case of any query, feel free to discuss the same.
Regards,
<br />hello,
salam ,
Mr. lap top please tell me that what is marginal releife and how can we claim against it?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
The following is being quoted from the notes provided under Division 1 of Part 1 of First schedule.
"Provided further that where the total income of a taxpayer marginally exceeds the maximum limit of a slab in the table, the income tax payable shall be the tax payable on the maximum of that slab plus an amount equal to â
(i) 20% of the amount by which the total income exceeds the said limit where the total income does not exceed Rs.550,000.
(ii) 30% of the amount by which the total income exceeds in each slab but total income does not exceed Rs.1,050,000.
(iii) 40% of the amount by which the total income exceeds
in each slab but total income does not exceed Rs.2,250,000.
(iv) 50% of the amount by which the total income exceeds in each slab but total income does not exceed Rs.4,550,000.
(v) 60% of the amount by which the total income exceeds in each slab but the total income exceeds Rs.4,550,000".
Unquoted
In case of any query, feel free to discuss the same.
Regards,
