The finance ministry of India has finalized brand new income tax rates for your financial year 2010-11 along with the assessment year 2011-12. These new rates are extremely profitable for the people having their yearly taxable income their range of Rs.500000 to Rs.800000. I have tried to cover these new current tax rates in this article. I have also compared the taxes payable with the tax payers this year as when last year i.e. financial year 2009-10.
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