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3 A 3. All individuals to pay for tax @ 15.00 % of earnings over first Rs. 4,00,000/-. No slabs, no deductions, no exemptions, no incentives and no allowances.No distinction in dynamics and income.

4) Do about to retire? Any amounts withdrawn from a retirement plan before your 59 1/2 are subject to early withdrawal penalties plus it'll be treated as regular taxable income. No early withdrawals!

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