Definition of ‘Average Rate of Income-tax’ | Section 2(10) of Income Tax

Meaning/ Definition of ‘Average Rate of Income-tax’ | Section 2(10) of Income Tax

As per Section 2(10) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Average Rate of Income-tax” has the following Meaning/ Definition:

Section 2(10) of the Income Tax Act, 1961

“Average Rate of Income-tax” means the rate arrived at by dividing the amount of income-tax calculated on the total income, by such total income;