New SIDBI Grade A New Batch Starts on Nov 18

    Register

    Question

    The highest surcharge rate of 37% on income above 5 crores shall be reduced to ______ % under the new tax regime.

    A 33 Correct Answer Incorrect Answer
    B 31 Correct Answer Incorrect Answer
    C 30 Correct Answer Incorrect Answer
    D 27 Correct Answer Incorrect Answer
    E 25 Correct Answer Incorrect Answer

    Solution

    The FM has proposed to reduce the highest surcharge rate on income above 5 crores from 37% to 25%, which will reduce the Maximum Marginal rate of Tax from 42.74% to 39% of income.

    Practice Next