We tailor our tax planning advice to suit your financial circumstances, incuding income tax, inheritance tax, capital gains tax etc

Personal income tax is a tax levied by the government on an individual's earnings within a financial year. This income can come from various sources such as salaries, wages, business profits, rental income, and capital gains. The tax rates are typically progressive, meaning they increase as the individual's income increases.

In India, personal income tax rates are divided into different slabs, with higher rates applied to higher income brackets. For example, income up to ₹3 lakh is not taxed, while income above ₹15 lakh is taxed at 30%. The government uses the revenue from personal income tax to fund public services and infrastructure projects like education, healthcare, and transportation.

Would you like to know more about how to file personal income tax returns?