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2006-12-29 18:00:12 · 2 answers · asked by Saravanan P 1 in Business & Finance Taxes India

2 answers

The rate of Income Tax prevailing at present for salaried people are as follows:

Upto 1 Lakh income : No Tax
Income above 1 Lakh to 1.5 Lakhs : 10%
Income above 1.5 to 2.5 Lakhs : 20%
Income above 2.5 lakhs : 30%

Surcharge of 10 percent is levied if net income of an individual assessee exceeds Rs.10 Lacs.

For ladies income upto 1.35 lakhs is exempted from Tax.

For Senior Citizen of 65 years and above exemption is upto
1,85,000.00

2006-12-29 18:19:15 · answer #1 · answered by vakayil k 7 · 0 0

Refer to All About TDS on salary in
www.allindiantaxes.com

2006-12-30 02:34:55 · answer #2 · answered by Anonymous · 0 0

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