These are the tax slabs as per the budget 2012-2013 in India.
Upto Rs 2 lakh - Nil
Rs 2-5 lakh - 10%
Rs 5–10 lakh – 20%
Above Rs 10 lakh – 30%
Interest from savings account up to Rs 10,000 to be exempt from tax
In addition to medical insurance, an additional Rs 5000 to be exempted for preventive health check-ups
Senior Citizens exempted from filing advance tax
Compulsory reporting of assets sold abroad
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