The Economic Survey for 2017 was tabled in Parliament on January 31st 2017.
The following are the main highlights from the report.
The Latest income tax slabs based on the Union budget presented on 01 February 2018 Calculate your tax based on the tax slabs for year 2018-2019. Detailed split for general, women, senior citizen etc are provided.
India Income tax slabs 2018-2019 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 2018-2019 for Senior citizens (Aged 60 years but less than 80 years)
Income tax slab (in Rs.)Tax
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
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.
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.