A percentage of tax is charged based on total income, the more the income more the tax.Hence income tax is calledprogressive. Tax rates are on the range of income levels which are called as Tax slabs. For example, those earning between 5,00,001 to 10,00,000 are in 20% tax slab. W...
Do you have to file your income tax returns for the first time or you are employee and have been filing it but want to understand the income tax TDS etc then you have come to the right place. It explains in question answer form what is income tax,different kinds of income, tax slabs,...