Income Tax Slab Rates 2010-11

Finance Minister Pranab Mukherjee on Friday revised the tax slabs for the next Tax financial year.
There will be no tax for income upto Rs 1.6 lakh. The earlier slab was 1.6 – 3 Lakh
For income between 1.6 lakh – 5 lakh, the tax liability will be 10%. The older slab was 3-5 lakh.
For income [...]

* The Indian economy was facing grave uncertainty. Growth had started decelerating when the interim and full budget for 2009-10 were presented.
* At home there was added uncertainty because of subnormal southwest monsoon.
* Yet, the economy now in a far better position than it was
eight years ago.
* India weathered the economic crisis well and [...]

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