The correct answer is 30. As per the Union Budget, 2020-21, a resident Indian Individual with an annual taxable income above Rs. 15 lakh will pay tax at the rate of 30 %. ?Income tax is a key source of government funding. Income tax in India is in the Union List of the Seventh Schedule to the Constitution of India, empowering the central government to tax non-agricultural income. Income-tax law consists of the 1961 act, Income Tax Rules 1962, Notifications and Circulars issued by the Central Board of Direct Taxes (CBDT), annual Finance Acts, and judicial pronouncements by the Supreme and High courts. The CBDT administers the Income Tax Department, which is part of the Ministry of Finance's Department of Revenue. ?Additional InformationTax TypeConditionTax applicableLTCG taxExcept on sale of equity shares/ units of equity oriented fund20%LTCG taxOn sale of equity shares/ units of equity oriented fund10% over and above Rs 1 lakhSTCG taxWhen securities transaction tax is applicable15%STCG taxWhen securities transaction tax is not applicableIt is added to ITR and the taxpayer is taxed according to his slab.