New Income-Tax Slab A.Y.2017-18

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Income-Tax Slab 2017-2018
1st February,2017 Indian Finance Minister Mr. Arun Jetly Announced a India's Budget. Every year, Our Finance Minister Changes in Income-Tax Slab for Increase or Decrease a Income-Tax Limit. First time, Finance Minister Announced Great and Very Useful Budget for Taxpayer. Indian Govt.Targeted a Increase a number of Taxpayer. Before Years, All India Population is 128 Crore But Only 4% People Pay a tax and More than Taxpayer filed a NIL Return. Now, Indian Govt. Targeted a Increase a Number of Taxpayer. Each and Every Business Included a Income-Tax.

As Under we are try to Understand what is Changes in Budget 2017-2018.

Earn Income up to 2.50 Lacs :-                     Paid Income Tax is NIL
Earn Income up to 2.50 Lacs to 5.00 Lacs :-  Paid Income Tax is 5%
Earn Income up to 5.00 Lacs to 10 Lacs :-     Paid Income Tax is 20%
Earn Income up to 10.00 Lacs to Above :-     Paid Income Tax is 30%

Now, we are Explain with Illustration :- 

Mr. A is Salaried Person. Earn Yearly 6 Lacs. Calculate a Tax.
Total Income :-       6,00,000
Up to 2.50 Lacs :-    2,50,000    ( Tax is NIL)
2.50 Lacs to 5 Lacs:- 2,50,000   (Tax is 12500)
5.00 Lacs to 10 Lacs:-1,00,000  (Tax is 20000) 

Tax Calculated :- 
12,500+20,000= 32,500 
87A is                   5,000

Total Tax is         27,500

If Calculate a Income-Tax is Old Slab of 2016-2017.
Total Tax is 45,000/-
Now Decreased Income-Tax is 27,500/-

Total Saving of Rs.17,500/-


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