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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.

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.

Highlights of Economic Survey 2016-2017

The Economic Survey for 2017 was tabled in Parliament on January 31st 2017.

The following are the main highlights from the report.

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Latest Income tax slabs for FY 2016-2017

The Latest income tax slabs based on the Union budget presented on 29 February 2016. The Minister of Finance Mr. Arun Jaitley presented the union budget on 29 February 2016. Following are the major highlights of the latest income tax slab. Calculate your tax based on the tax slabs for year 2016-2017. Detailed split for general, women, senior citizen etc are provided.

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Minister of Finance Leaves for G20 meet

Union Minister for Finance, Mr Arun Jaitley leaves for Ankara Turkey to attend the two day conference of Finance Ministers and Central Bank Governors’ of G-20 countries. The minister is also expected to attend the first meeting of Contingent Reserve Arrangement(CRA) of Governing Council of BRICS.

Mr Jaitley is expected to be back on 7 September 2015.

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Income tax return filing due date extended

The Ministry of finance has indicated that the due date for filing of income tax returns has been extended to September 7, 2015. Initially the extension of due date was for tax payers in Gujarat, but now it has been extended for across the country.

More details are available in this circular issued by Ministry of Finance.

Extension of Filing due date

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Latest Income tax slabs for FY 2015-2016

Calculate your tax based on the tax slabs for year 2015-2016. Detailed split for general, women, senior citizen etc are provided.

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BUDGET 2015-2016 Highlights

Minister of Finance Mr. Arun Jaitley presented the Union budget for the year 2015-16 on February 2015 in Parliament. The highlights of the union budget that is targeted to reduce fiscal deficit and to improve growth are the following:

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Latest Income tax slabs for FY 2014-2015

The latest income tax slab for 2014-2015 based on the union budget 2014 presented on 10 July 2014.

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BUDGET 2014-2015 Highlights

Union budget 2014-2015 was presented by Minister of Finance Arun Jaitley. The highlights of the budget.

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