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BUDGET 2017-2018 Special

Latest Updates -
-The latest income tax slabs for 2017-2018 can be found here - Income tax slabs 2017-18.

-The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here
Free Income Tax calculator for calculating tax for 2017-18.

Union Budget 2017

News views and analysis related to the Union budget 2017.

Latest Income tax slabs for FY 2017-2018

The Latest income tax slabs based on the Union budget presented on 01 February 2017. Calculate your tax based on the tax slabs for year 2017-2018. Detailed split for general, women, senior citizen etc are provided.

India Income tax slabs 2017-2018 for General tax payers and Women

Income tax slab (in Rs.)Tax
0 to 2,50,000No tax
2,50,001 to 5,00,0005%
5,00,001 to 10,00,00020%
Above 10,00,00030%

India Income tax slabs 2017-2018 for Senior citizens (Aged 60 years but less than 80 years)

Income tax slab (in Rs.)Tax
0 to 3,00,000No tax
3,00,001 to 5,00,0005%
5,00,001 to 10,00,00020%
Above 10,00,00030%

India Income tax slabs 2017-2018 for very senior citizens (Aged 80 and above)

Income tax slab (in Rs.)Tax
0 to 5,00,000No tax
5,00,001 to 10,00,00020%
Above 10,00,00030%


Note - No change in Tax slabs from last year. The previous income tax slab for year 2016-2017 can be found here - Income tax slabs 2016-17.

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BUDGET 2017 Highlights and summary

Minister of Finance Mr. Arun Jaitley presented the Union budget for the year 2017-18 on 01 February 2017 in Parliament. This is his third budget.

The budget that comes after the demonetisation is highly anticipated.

The main highlight of the budget are the following

  • Merging of Rail Budget and main Budget. Also done away with plan and non-plan expenditure
  • Agenda for the next year is to transform, energise and clean India.
  • Farming gets a big boost in this budget. Agricultural Credit to farmers will be 10 Lakh crore. Fasal Bima Yojana to provide protection to farmers against natural calamities. 75 lakh available for cleaning and packaging of farmer produce
  • MGNREGS gets highest ever allocation for the scheme of Rs. 48,000 crore.
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