Introduction to Income Tax Rules and Regulations

Individual taxpayer slabs in India • Basic exemption limit: This is the most basic amount that appears to be of income, say INR 2.5 lakhs. This is completely exempt from tax. • Income Tax Slabs o 5% between INR 2.5 lakhs to INR 5 lakhs 10%, 15%, 20% and so on. The top one is 30% for the highest income brackets