https://help.tallysolutions.com/docs/te9rel64/Payroll/payroll_budget_changes_2017_18.htm

Budgetary Changes 2017-18 (Payroll)

The revisions in tax rebate, surcharge, and income tax slab rates are supported as per Union Budget for the financial year 2017-18.

Note: You can import statutory files by pressing Ctrl+Alt+I from Gateway of Tally to view the income tax slabs and classifications.

Income Tax Slab

For income tax, the revised slab rates are supported.

To view the new slab rates

Go to Gateway of Tally > Display > Statutory Info. > Income Tax Slabs > Income Tax Slab .

In the Income Tax Slab screen, the exemption limits applicable for males, females and senior citizens for the financial year 2017-18 appears as shown below:

Surcharge

For surcharge, the revised income slab and slab rate are supported.

To view the revised tax rate

Go to Gateway of Tally > Display > Payroll Statutory Info. > Income Tax Slabs > Surcharge .

In the Income Tax Slab screen, the tax slab and slab rate applicable for males, females, senior citizens, No PAN, and very senior citizens for the financial year 2017-18 appear as shown below:

Tax Rebate U/s 87A

For tax rebate, the revised tax rebate of Rs. 2,500 for individuals with income up to Rs. 3,50,000 is supported.

To view the revised tax rebate

Go to Gateway of Tally > Display > Payroll Statutory Info. > Income Tax Slabs > Tax Rebate U/s 87A .

In the Income Tax Slab screen, the tax slab and slab value applicable for males, females, senior citizens, No PAN, and very senior citizens for the financial year 2017-18 appear as shown below: