Income upto Rs.2 lakhs per annum has been exempted from the Tax.
Income between Rs 2 lakhs to Rs. 5 lakhs per annum, will draw 10% income tax.
Income between Rs 5 lakhs to Rs. 10 lakhs per annum, will draw 20% income tax.
Income above Rs. 10 lakhs per annum will draw 30% income tax.
- Union Budget 2012 Live Update (trak.in)