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Friday, March 16, 2012

Personal Income tax rates cut for various slabs

The Budget Tax and other HighlightsThe new tax rates:Upto Rs 2 lakh : NILFrom 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 10,000No advanced tax requirement for senior citizens....
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