2017 budget tax slabs and tax payable

2017 budget tax slabs are announced. Check out your tax payable as per 2017 budget and calculation of tax payable. Use this table only for reference and calculate tax on real time bases.

2017 budget tax slabs

Tax_Slab_2017

 

Standard tax rates for 2017-2018

If Calculation of tax payable

Calculation of tax payable is simple and easy to understand.

First of all consider your annual salary is up to 250,000 you do not come under tax slabs.

If your annual salary is up to 300,000 you have to pay only 5% tax because of current slab.

For annual salary up to 500,000 you have to pay only 5% tax on taxable salary.

If your annual salary is up to 10, 00,000 you have to pay only 20% tax on taxable salary.

If your annual salary is more than 10, 00,000 you have to pay only 30% tax on taxable salary until you reach 50, 00,000 per annum.

These are tax rates for 2018 financial year, when you file your ITR in the month of March.

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