Why it doesn’t make sense to get a hike if you earn Rs 2 crore

Tax slabs remain unchanged after the Union Budget 2019, but ​​​it’s the surcharge which has pushed up rates across the slabs. Say, someone’s taxable salary now is Rs 5 crore, his tax liability shoots up by Rs 33.9 lakh, because the surcharge is now 37%, up from 15%. Even at a salary of Rs 2 crore, the surcharge has seen a sharp increase from 15% to 25%​.

from Times of India https://ift.tt/2L9CGjo