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What may be the rate? At the rate or rates enacted by Central Act for any Assessment Years. It’s varies between 10% – 30% of taxable income excluding the basic exemption limit applicable to your tax payer.
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This provides for us a combined total of $110,901, our itemized deductions of $19,349 and exemptions of $14,600 stay the same, giving us earnings taxable income of $76,952.
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