Tax On Super-Rich Decoded: Here’s Your Complete Guide To Understanding New Rules – NDTV

  • Press Release|
  • < 1 minute
  • By Taxmann
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  • Last Updated on 28 October, 2020
July 12, 2019
By CA Naveen Wadhwa & CA Dipen Mittal of Taxmann:

Here are some important points to understand the new income tax changes for the super rich in a better way:
What will be the new effective tax rate as per Budget 2019 announcements?
In the Union Budget 2019, the government proposed to increase the rate of surcharge on individual taxpayers who fall in the higher income brackets.
Budget 2019-20
“As per the announcements, the rate of surcharge will be increased from 15 per cent to 25 per cent if the total income of an individual exceeds Rs. 2 crore but doesn’t exceed Rs. 5 crores.”


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