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Name : Rajvansh Mehra
Subject: Budget 2004 and Income Tax
Message : I was surprised to read in one financial paper that the Finance Minister has not raised the exemption limit for income tax, but only made a provision whereby those with a taxable income of below Rs 1 lakh will not pay tax.

But I thought, there will be no-payment of income tax for those having a total taxable income of less than Rs 1 lakh.

Can somebody, please clarify on this ??

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