Income Tax Return
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income.
| Income Slabs | Income Tax Rates |
|---|---|
| ₹0 - ₹2,50,000 | – |
| ₹2,50,000 - ₹5,00,000 | 5% (tax rebate u/s 87A is available) |
| ₹5,00,000 - ₹7,50,000 | 10% |
| ₹7,50,000 - ₹10,00,000 | 15% |
| ₹10,00,000 - ₹12,50,000 | 20% |
| ₹12,50,000 - ₹15,00,000 | 25% |
| >₹15,00,000 | 30% |
