Direct Tax Code (DTC) 2012

The proposed rates and slabs are as follows:

Annual Income	Tax Slab
Up-to INR  200,000 (for senior citizens 250,000)	Nil
Between INR 200,000 to 500,000	10%
Between INR 500,000 to 1,000,000	20%
Above INR 1,000,000	30%

Men and women are treated same now

Useful Links for DTC articles

http://www.investment-mantra.in/whats-new/direct-tax-code-2012-onwards/
http://www.pankajbatra.com/india/new-direct-tax-code-dtc-highlights/

http://www.paycheck.in/main/work-and-pay/incometax-info/a-completely-new-and-revised-direct-tax-code-updated-on-31-08-2010
http://www.saraltaxoffice.com/articles/direct-tax-code-highlights.php

LATEST News : (24th feb'12) Heard that DTC has been postponed for another one year. Simplicity has taken back seat. Poor government policies.