Income tax slab for individuals (old regime, ages below $60$): income up to Rs. $2,50,000$ is

Income tax slab for individuals (old regime, ages below $60$): income up to Rs. $2,50,000$ is
  1. tax-free
  2. taxed at $5\%$
  3. taxed at $10\%$
  4. taxed at $20\%$

Solution

Basic exemption limit (old regime, < 60 years) is Rs. $2,50,000$.

Asked in: MH-SSC-9

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