New Income Tax slab proposed by the finance minister for the upcoming financial year 2010 - 2011
New tax slabs are:
Income up to Rs 1.6 lakh - NIL
Income above Rs 1.6 lakh and up to Rs 5 lakh - 10%
Income above Rs 5 lakh and up to Rs 8 lakh - 20%
Income above Rs 8 lakh - 30%
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