Question

What is the tax rate of sole trader

Answer 1

Hello Frnd

A sole trader is person who trade solely. He is called a sole properiter.

A sole properiter's income is not separate from his entity's income. That's why he needs to pay Income Tax.

Following is the Income Tax slabs

250,001 to 500,000 >>>> 10℅

500,001 to 1,000,000>>>>>25000+ 20℅ of amount exceeded by 500,000


1,000,001 to No limit >>>>> 125,000 + 30% of amount exceeded by 1,000,000


hope it helps
jerri