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Budget 2017: Income Tax Slabs
Updated : Feb 1, 2017
In the Union Budget announced today, Finance Minster Arun Jaitley assured honest tax payers that they will be treated with dignity. In a bold move the Finance Minister took personal tax measures which will put more money into the hands of tax payers. He halved income tax rates for individuals earning Rs 2.5- 5 lakhs today. Here is Income Tax Slab 2017:
Income Slab Tax Rate
Income up to Rs 3 lakh Nil
Income from Rs 3 lakh to 5 lakh 5%
Income from 5 lakh to Rs 10 lakh 20%
Income from Rs 10 lakh to Rs 50 lakhs 30%
Income from Rs 50 lakh to Rs 1 crore 30% + 10% surcharge
Income above Rs 1 crore 30% + 15% surcharge