Is Surcharge Automatically Payable When Income Is Taxed at the Maximum Marginal Rate (MMR)? ITAT Mumbai Says No Landmark Ruling Clarifies That Maximum Marginal Rate Does Not Automatically Attract Surcharge Where the Statutory Income Threshold Is Not Crossed The phrase “Maximum Marginal Rate (MMR)” appears in several provisions of the Income-tax Act governing taxation of trusts, Associations…
The post Is Surcharge Automatically Payable When Income Is Taxed at the Maximum Marginal Rate (MMR)? ITAT Mumbai Says No appeared first on The Tax Talk.
