💨 Abstract

India has reduced personal income tax rates for certain individuals to stimulate consumption in the economy, which is forecast to grow at its slowest pace in four years. As per the new system implemented in 2020, annual income up to 1.5 million rupees (approximately $17,300) is taxed at rates between 5% and 20%, while income above this amount is taxed at 30%.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖