The maximum rate of income tax (excluding surcharge and cess) for individuals in India as per recent budget is:
A. 25%
B. 40%
C. 35%
D. 30%
Answer: Option D
Solution (By JKSSB Mock Tests)
As per current income tax slabs, the highest marginal rate for individuals (old regime) is 30%. Under new regime, surcharge may increase effective rate but base rate is still 30% up to certain limit. The question asks maximum rate excluding surcharge, so 30%.
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