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income tax slab plays a crucial role in determining the tax liability of an individual. In every financial year, the government revises these slabs to accommodate economic changes and ensure fair taxation. Taxpayers must understand the various tax slabs and how they impact their overall tax payments.

Understanding Income Tax Slabs

An income tax slab refers to a range of incomes taxed at different rates. It is a progressive tax system where individuals with higher incomes pay higher taxes. The government categorizes taxpayers based on their annual income and

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