highlight of new income tax rate from 01-04-2011

Highlights:
Individual persons exempt up to Rs. 2 lakh
Senior citizen upto Rs. 2.5 lakh exempt
Tax for those earning Rs. 2 - 5 lakh at 10 per cent
Tax for those earning Rs. 5-10 lakhs at 20 per cent
Tax for those earning over Rs. 10 lakhs at 30 per cent.

Corporate tax to be 30 per cent

it is proposed to provide the EEE (Exempt-Exempt-Exempt) method of taxation for Government Provident Fund (GPF), Public Provident Fund (PPF) and Recognised Provident Funds (RPF) …”,