Finance Minister Pranab Mukherjee announced new tax slabs in his budget speech on Friday.
The new tax slabs are:
*Up to 2 lakh rupees - NIL
*2 lakh - 5 lakh rupees - 10%
*5 lakh - 10 lakh rupees - 20%
*Above 10 lakh rupees - 30%
Mukherjee also said there will no change in corporate tax rates.
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