<p>The much-awaited Direct Taxes Code Bill got the Cabinet nod on Thursday and is now likely to be tabled in Parliament shortly. Thereafter, it will be refered to the select committee. <br />Income between Rs 2-5 lakh is likely to attract a rate of 10 per cent; 20 per cent for the Rs 5-10 lakh bracket and 30 per cent above Rs 10 lakh.<br /><br />For senior citizens and women, the tax slabs are likely to be relaxed further.</p>
<p>The much-awaited Direct Taxes Code Bill got the Cabinet nod on Thursday and is now likely to be tabled in Parliament shortly. Thereafter, it will be refered to the select committee. <br />Income between Rs 2-5 lakh is likely to attract a rate of 10 per cent; 20 per cent for the Rs 5-10 lakh bracket and 30 per cent above Rs 10 lakh.<br /><br />For senior citizens and women, the tax slabs are likely to be relaxed further.</p>