Greetings from our FM! Tax slabs are revised again this year resulting in paying less tax now.
"Over and above Rs 1 Lakh deduction on tax savings, an additional deduction of Rs 20% for investment in Long-Term Infrastructure Bonds would be allowed", Pranab Mukheree said.
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| Males | Females | tax |
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| Upto 1.6 L | Upto 1.9 L | NIL |
| 1.6 L to 5 L | 1.9 L to 5 L | 10% |
| 5 L to 8 L | 5 L to 8 L | 20% |
| Above 8 L | Above 8 L | 30% |
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Few more links
http://in.budget.yahoo.com/2010/commentary
http://economictimes.indiatimes.com/Tax/Tax-impact-for-resident-individuals-and-HUF/articleshow/5619497.cms
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