News > How Inflation in economy results in hidden income tax hikes

How Inflation in economy results in hidden income tax hikes

Taxguru | 30/09/2022 03:51 PM | Click to read full article

Tax brackets represent the currency amount that stratifies the taxable income of a person. This problem of hidden tax hikes is not limited to tax brackets only.

Consider cases of taxpayers who become taxable at higher tax slabs entirely due to inflationary increases in income and are taxed at higher income tax percentages.

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