Indian Income Tax rates in 1973-74 went up to 97.75%

The Personal Income Tax rates in India during 1973-74 were spread between 11 slabs, with taxpayers in the highest slab paying as much as 97.75%. Although tax rates between the lowest and highest slabs ranged between 10% and 85%, there was a surcharge of 15% for annual income above ₹15,000, resulting in the highest effective tax rate of 97.75%.