•  What is the income tax in India



As of my last knowledge update in September 2021, India has a progressive income tax system, where the tax rates vary based on the income slabs. Here are the income tax slabs for individuals below 60 years of age for the financial year 2021-2022 (assessment year 2022-2023) .

  • Up to ₹2,50,000: No tax
  • ₹2,50,001 to ₹5,00,000: 5%
  • ₹5,00,001 to ₹10,00,000: 20%
  • Above ₹10,00,000: 30%  


Additionally, there is a 4% Health and Education Cass on the total income tax payable.

Please note that tax laws can change, and it's advisable to consult with a tax professional or refer to the latest information from the Income Tax Department of India to get the most up-to-date information on income tax rates.