Section 2(10) of Income Tax: Definition of ‘Average Rate 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;

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