The total bill would be about $6,053 — about 12% of your taxable income — even though your highest bracket is 22%. That 12% is your effective tax rate. 2. How do tax brackets and rates work on ...

A tax payment is required at the time of submitting ITR-U, and cannot be filed to take the tax refund. The deadline for filing updated Income Tax Returns (ITR-U) for the Assessment Year 2021–22 ...