Pranab prunes tax rates
Income up to Rs 1.6 lakh - nil
Income above Rs 1.6 lakh and up to Rs 5 lakh - 10 percent
Income above Rs 5 lakh and up to Rs 8 lakh - 20 percent
Income above Rs 8 lakh - 30 percent.
New tax rates would offer relief to 60 per cent of tax-payers, says Finance Minister Pranab Mukherjee.
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