Income Tax Slab Rates for FY 2017-2018

Finance Minister Arun Jaitley , in his Budget 2017 , announced relief for people earning income between Rs 2.5 lakh and Rs 5 lakh.Now, 5% tax will be levied on people earning under bracket Rs 2.5 lakh-Rs 5 lakh. Presently, it is at 10%.

Also, people filing I-T returns for the first time will not come under government’s scrutiny for the first year.India is quite different when compared to other nations such as China, UK, US, Germany and Brazil.

Here is how India differs from these nations and tax slabs in these nations


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