Hi, all,
noe Direct Tax Code has been approved and it may be placed in parliament in monsoon session.
As per the code, basic exemption limit is Rs.200000/- for salaried class.
from Rs.200000-500000 tax rate is 10%
From RS.500000-100000 tax rate is 20%
from Rs. 10000 and above it is 30%.
However corporate tax has been kept at 30%.
HappY!!!!!!!??
CAclubindia
