New Tax Slab in Budget 2012-13

New Tax Slab: The Finance minister has raised the income-tax exemption limit to Rs 2 lakh from Rs 1,80,000. No tax will be charged for income upto Rs 2 lakh. A tax of 10% will be charged for income between Rs 2-5 lakh, while 20% will be charged for income between 5-10 lakh and 30% will be charged above 10 lakh.
New Tax Slab in Budget 2012-13
Up to 2 lakh rupees - NIL
2 lakh - 5 lakh rupees - 10%
5 lakh - 10 lakh rupees - 20%
Above 10 lakh rupees - 30%