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Month: August 2015

Income Tax Slab Rate & Deductions – AY 2016 -17 (FY 2015-16)

Income Tax Slab Rate & Deductions – AY 2016 -17 (FY 2015-16)

What is Income Tax Slab? Income tax is that percentage of income paid to the government by the taxpayers for the betterment of the public at large. This income is categorized into different groups on the basis of the amount of income. Each such group is known as a Tax Slab. Tax is charged at different rates on the range of income falling under different income tax slabs. The Income Tax Act 1961 is the law that governs the provisions…

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