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We got the latest info on Windfall for taxpayers from the next financial year. You will in fact have to pay less Direct taxes in every slab of income. This comes with the Cabinet clearing the Direct tax code which will be introduced in Rajya Sabha, and referred it to a select committee, during the monsoon session.
Direct Tax is the Tax which paid directly by the Citizen to the Government.The new Code comes into effect from April, 2011.
It has been referred to the Select Committee, and will be introduced in Rajya Sabha on Monday. The new provisions under the Direct Tax Code are as follows:
Direct Tax is the Tax which paid directly by the Citizen to the Government.The new Code comes into effect from April, 2011.
It has been referred to the Select Committee, and will be introduced in Rajya Sabha on Monday. The new provisions under the Direct Tax Code are as follows:
- Tax for income between Rs. 2 lakh - Rs. 5 lakh: 10%
- Tax for income between Rs. 5 lakh - Rs. 10 lakh: 20%
- Tax for income over Rs. 10 lakh: 30%
The limit for exemptions for salaried people is Rs. 2 lakh, while that for senior citizens is Rs. 2.5 lakh.
Corporate tax has been kept at 30%..Related searches:
dtc, direct tax code 2011, direct tax code india, direct tax, journal geek
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