What is Income Tax Slab?

Income tax is that percentage of income paid to the government by the taxpayers for the betterment of the public at large. This income is categorized into different groups on the basis of the amount of income. Each such group is known as a Tax Slab. Tax is charged at different rates on the range of income falling under different income tax slabs.

Below is the categorization of the tax paid on the basis of the income groups:

income-tax-slabs
Income Tax Slabs for an Individual for FY 17-18

 

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