Income Tax Slabs

Tax Glossary Definition

Income Tax Slabs

Income Tax Slabs – Structured ranges of income with corresponding progressive tax rates, where higher income is taxed at higher rates, forming the basis for calculating tax liability for individuals and entities. Example: Income up to ₹2.5 lakh is tax-free, while income between ₹2.5 lakh and ₹5 lakh is taxed at 5%.

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