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New income Tax Slabs as presented in budget 2010-2011 India Top News

New Revised income Tax Slabs as presented in budget 2010-2011 India Top News
Direct Taxes
Income tax slabs for individual taxpayers to be as follows
Income upto Rs 1.6 lakh :Nil
Income above Rs 1.6 lakh and upto Rs. 5 lakh :10 per cent
Income above Rs.5 lakh and upto Rs. 8 lakh: 20 per cent
Income above Rs. 8 lakh: 30 per cent
Deduction of an additional amount of Rs. 20,000 allowed, over and above the
existing limit of Rs.1 lakh on tax savings, for investment in long-term infrastructure
bonds as notified by the Central Government

Contributions to the Central Government Health
Scheme also allowed as a deduction under the same provision.

February 26th, 2010 | Category: Uncategorized

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Discalimer
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