Posted by : CS K. K. Agrawal Feb 3, 2017

Finance bill 2017 has reduced the lowest slab rate to 5% from 10%. This is a welcome step. The assessee shall get maximum benefit of Rs. 12,500 across all levels of income. But next slab is 4 times of 5% which is 20%. This may encourage few assessee to under report their income so that they may fall in 5% bracket.

One more benefit is been given to resident individual who is earning income upto Rs. 3,50,000 to claim rebate u/s 87A of maximum Rs. 2,500. Effectively every salaried class or small business man whose total income is upto Rs. 3,00,000 need not pay any tax.

For Resident senior citizen aged atleast 60 years no tax upto a income of Rs. 3,00,000

For Resident super senior citizen aged atleast 80 years no tax upto a income of Rs. 5,00,000


This Govt. looks honest and is determined to bring the old glory of India. It seems Modi ji will surely and we will all one day can say proudly "INDIA IS SHINING"

Buy our bestsellers : All books authored by CS K K Agrawal 








Computation of tax as per slab rate 

AY 2019-20
AY 2020-21
AY 2021-22

Finance Bill 2018
Finance Bill 2019
Finance Bill 2020






Leave a Reply

Subscribe to Posts | Subscribe to Comments

- Copyright © tax by kk classes - Never say Die-