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Revision as of 20:59, 17 August 2026


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What will be the rate? At the rate or rates enacted by Central Act almost every Assessment Entire year. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable for the tax payer.

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Congress finally acted on New Year's Day, passing the "fiscal cliff" law. This law extended the existing tax rate structure for single taxpayers with taxable income of less than USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For people higher incomes, the top tax rate was increased to 39.6% These limits are determined prior to the foreign earned income exemption.

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