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How is income tax calculated in Mumbai?
Yes, what are the tax slab rates in Mumbai?
For individuals earning up to Rs. 2.5 lakhs per annum, there is no income tax levied. For those earning between Rs. 2.5 lakhs and Rs. 5 lakhs, the tax rate is 5%. For income between Rs. 5 lakhs and Rs. 10 lakhs, the rate is 20%. And for individuals earning more than Rs. 10 lakhs per annum, the tax rate is 30%. Does that help?