Marginal relief in income tax is a mechanism used in some tax systems to provide relief to individuals whose income falls just above the threshold for a higher tax rate.
No, the Marginal Relief applies to an employee under the new regime. The benefit of Marginal Relief is available to employees whose taxable income is within the range of Rs 7,00,001 to Rs 7,27,778.
Marginal relief is a provision in the Income Tax system to reduce the impact of higher tax rates on individuals and companies with slightly higher incomes.
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