The Daily Populous

Friday July 5th, 2019 evening edition

image for Budget 2019: India's super-rich peak tax rate, at 42.7%, now higher than US'

Finance Minister Nirmala Sitharaman today announced that the tax rate on the super-rich would go up, with a peak effective tax rate of 42.7 percent being higher than the US' 40 percent.

Presenting her maiden Budget, Sitharaman said that individuals earning more than Rs 5 crore a year would pay a surcharge of 37.5 percent on their tax, over above their 30 percent marginal tax.

This comes up to an effective rate of 41.1 percent rate (Rs 30 tax on every Rs 100 earned, plus another 37 percent on Rs 30, which is Rs 11.1).

Add to that various cess, and the peak tax rate comes up to 42.7 percent.

The surcharge on those earning between Rs 2 and Rs 5 crore increased to 25 percent, bringing their effective tax rate to about 39 percent.

The measures are in lieu of the rising income levels, announced Finance Minister Nirmala Sitharaman, during her maiden Union Budget on Friday.

Note: A previous version of this story said the peak income tax rate is 38 percent. »

Bladder cancer 'attacked and killed by common cold virus'

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Image copyright Science Photo Library Image caption A virus of the common cold infected and killed bladder cancer cells in the study.

A strain of the common cold virus can infect and kill bladder cancer cells, a small study suggests.

All signs of the disease disappeared in one patient, and in 14 others there was evidence that cancer cells had died. »

Donald Trump, Who Avoided Serving in Vietnam Through Multiple Deferments, Urges Youths to Join Military: 'You Should Do It'

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"To young Americans across our country, now is your chance to join our military and make a truly great statement in life.

In all, Trump secured five deferments from the Vietnam War draft, four of which were because he was still studying at college.

"If there was anything wrong in the building, my dad would call and Trump would take care of it immediately. »

An Update On Partnerships and Old School

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We pride ourselves on ensuring that our players can vote on any in-game content, including content related to commercial efforts, like that which we were offering in the partnerships poll.

Again, we welcome your feedback on this and rest assured, no in-game content for partnerships will be added without a poll. »