17 Feb 2020 12,500 under Section 87A of IT Act. 1961 is available to the individuals who have a yearly income up to Rs. 5 lakhs. Income tax rates differ for age  Although it is commonly thought that the highest UK Income Tax rate is 45%, The higher rate threshold at which tax is charged at 40% also falls in step with the but excluding those paid under salary sacrifice or employer contributions).

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