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What's your tax rate?

In total, a taxpayer can enjoy tax-breaks of up to Rs 3.5 lakh - Rs 1 lakh for investments from income, Rs 1.5 lakh for interest payable on housing loan and Rs 1 lakh for contribution to super-annuation.

The effective tax incidence for a salaried taxpayer with an annual income of Rs 12,00,000 will be only 15 per cent. For a taxpayer with annual income of Rs 6,00,000, the effective tax rate could dip to below 10 per cent.
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