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What will be the rate? In the rate or rates enacted by Central Act for any Assessment Calendar months. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable for the tax payer.

But your employer gives to pay 7.65% of the items income he pays you for your Social Security and Medicare. Most employees are unaware of this particular extra tax money your employer is paying you r. So, between you so your employer, the us govenment takes 16.3% (= 2 times 7.65%) of the income. If you are self-employed you pay the whole 15.3%.

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