Marginal Relief Calculator A.Y. 2022-23/A.Y.2023-24: There are many assessees, even tax professionals, who find it difficult to calculate marginal relief from their tax returns. In this article, we have discussed in detail the concept of surcharges and marginal reliefs here. However, you can use the Marginal relief calculator to grab the complete concept of Marginal relief for Assessment year 2022-23 assessment year A.Y.2023-24 by trying lots of calculations. The persons who need this calculator in excel format, please comment with your email address. We will send you the Marginal relief calculator in excel format also.
Surcharge Calculation on Income Tax
Surcharge Calculation on Income Tax: Here is the table of assessee status, net income range and surcharge on income tax.
| Assessee Status | Net Income Range | Surcharge % on Income Tax |
|---|---|---|
| Individuals/HUF/AOP/BOI/Artificial Juridical Person | 0 Rs.50 Lakh | Nil |
| Rs.50 Lakh to Rs.1 Crore | 10% | |
| Rs.1 Crore to Rs.2 Crore | 15% | |
| Rs.2 Crore to Rs.5 Crore | 25% | |
| Above Rs.5 Crore | 37% | |
| Firm/Local Authority | 0 to Rs.1 Crore | Nil |
| Above Rs.1 Crore | 12% | |
| Co-operative Society (A.Y. 2022-23) | 0 to Rs.1 Crore | Nil |
| Above Rs.1 Crore | 12% | |
| Co-operative Society (A.Y. 2023-24) | 0 to Rs.1 Crore | Nil |
| Rs.1 Crore to Rs.10 Crore | 7% | |
| Above Rs.10 Crore | 12% | |
| Domestic Company | 0 to Rs.1 Crore | Nil |
| Rs.1 Crore to Rs.10 Crore | 7% | |
| Above Rs.10 Crore | 12% | |
| Foreign Company | 0 to Rs.1 Crore | Nil |
| Rs.1 Crore to Rs.10 Crore | 2% | |
| Above Rs.10 Crore | 5% |
Marginal Relief Income Range
Income Range of Marginal Relief Table: Here is the table of assessee status and income range where marginal relief is applicable.
| Assessee Status | Income Range for Marginal Relief Applicability |
|---|---|
| Resident Senior Citizen | Rs.50 Lakh to Rs.51.9552 Lakh Rs.100 Lakh to Rs.102.145 Lakh Rs.200 Lakh to Rs.209.296 Lakh Rs.500 Lakh to Rs.530.173 Lakh |
| Resident Super Senior Citizen | Rs.50 Lakh to Rs.51.9402 Lakh Rs.100 Lakh to Rs.102.1374 Lakh Rs.200 Lakh to Rs.209.28 Lakh Rs.500 Lakh to Rs.530.1528 Lakh |
| Any other Resident Individual, Any Non-Resident Individual, Any HUF or AOP/BOI | Rs.50 Lakh to Rs.51.9589 Lakh Rs.100 Lakh to Rs.102.1469 Lakh Rs.200 Lakh to Rs.209.30 Lakh Rs.500 Lakh to Rs.530.1782 Lakh |
| Firm | Rs.100 Lakh to Rs.105.4216 Lakh |
| Co-operative Society | Rs.100 Lakh to Rs.105.4162 Lakh |
| Domestic Company (Tax Rate 25%) | Rs.100 Lakh to Rs.102.389 Lakh Rs.1000 Lakh to Rs.1017.3611Lakh |
| Domestic Company (Tax Rate 30%) | Rs.100 Lakh to Rs.103.0927 Lakh Rs.1000 Lakh to Rs.1022.59030 Lakh |
| Foreign Company | Rs.100 Lakh to Rs.101.3513 Lakh Rs.1000 Lakh to Rs.1020.6896 Lakh |