what is the meaning of slab rate
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Tax laws divide taxpayers into different grouping as per their taxable income and levy income-tax at different rates. These grouping are called income-tax slabs. Basic tax exemption limit for an individual depends on her age and residential status.
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Answer:
Tax laws divide taxpayers into different grouping as per their taxable income and levy income-tax at different rates. These grouping are called income-tax slabs. Basic tax exemption limit for an individual depends on her age and residential status.
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