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Note: The writer is actually a CPA or tax professional. This article is for general information purposes, and need to not be construed as tax advice. Readers are strongly encouraged to consult their tax professional regarding their personal tax situation.

What will be the rate? At the rate or rates enacted by Central Act almost every Assessment 12. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable on the tax payer.

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