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.

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