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Personal Income tax rates cut for various slabs


16 Mar, 2012 12:27p.m.

The Budget Tax and other Highlights
The new tax rates:
Upto Rs 2 lakh : NIL
From Rs 2 lakh to Rs 5 lakh at 10%,
Rs 5 lakh to Rs 10 lakh at 20%,
And beyond Rs 10 lakh at 30%.

Health insurance deduction upto Rs 5000 for preventive health checkup.

Interest income from banks tax-free upto Rs 10,000

No advanced tax requirement for senior citizens

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