Income Tax Rate is the vital part of the income tax as charged by the Indian government on taxable incomes of the individuals, companies, co-operative societies, firms, trusts and any other artificial person.
The income tax, which is calculated on the basis of India income tax rate, is levied on each of the individual person and is governed by the Indian Income Tax Act. 1961. It is the Ministry of Finance along with the Government of India, which determines the India income tax rate.
Income Tax Slabs in Financial Years before 2017-18