new income tax code
Hi people the latest info related to new income tax code is here. new income tax code are to be announced shortly. new income tax code can be viewed from following links below . you can also see the new income tax code in the official website site1 if you got any questions reg new income tax code comment below. links to new income tax code here below . you just have to navigate through the liks for new income tax code. Best Of Luck for new income tax code !!!For Further details reg new income tax code you can check out
The new income Taxes Code has suggested a significant expansion of personal income-tax slabs, with levels of relief going up with incomes.
annual income of Rs 1.6-10 - 10% tax
annual income of Rs 10-25 - 20% tax
annual income of Rs 25 lakhs and above- 30% tax
Now 10 per cent is levied on incomes of Rs 1.6-3 lakh, 20 per cent on Rs 3-5 lakh and 30 per cent above Rs 5 lakh.
official websites :-
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The same had happened in the yr 1995. Even then they tried to change the Tax Laws But nothing happened. Finally after 7 years of Debate only a few of the provisions of the new proposed Bill were chosen and they were incorporated in the Existing Income Tax Act 1961.