..............Indications are that the exemption limit will be raised to ₹5 lakh from the current ₹2 lakh; meaning, people earning ₹5 lakh or less annually will not have to pay tax. Currently, tax is levied at the rate of 10 per cent on income of ₹2-5 lakh, 20 per cent on income of ₹5-10 lakh and 30 per cent on income above ₹10 lakh ............
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