Some Salient Features in 2017-18 Central Budget

1.    3,500 km of railway lines to be commissioned this year up from 2,800 km last year.

2.    SMS-based ''clean my coach service'' is put in place.

3.    Coach mitra facility will be introduced to register all coach related complaints.

4.    By 2019 all trains will have bio-toilets.

5.    Five-hundred stations will be made differently-abled friendly.

6.    High speed Internet to be allocated to 1,50,000 gram panchayats.

          7.  Shares of Railway PSE like IRCTC will be listed on stock exchanges.

          8. Head post office as the central office for rendering passport service.

         9. Individuals numbering 1.95 crore showed an income between Rs.           2.5 lakh to Rs. 5 lakh.

10.         Out of 76 lakh individual assessees declaring income more than Rs. 5 lakh, 56 lakh are salaried.

11.      Only 1.72 lakh people showed income of more than Rs. 50 lakh a year.

12.       Between November 8 to December 30, deposits ranging from     Rs. 2 lakh and Rs. 80 lakh were made in 1.09 crore accounts

13.          The Income Tax Act to be amended  to ensure that no transaction above Rs 3 lakh is permitted in cash.

14.        The limit of cash donation by charitable trusts is reduced to Rs 2,000 from Rs 10,000.

No service charge on tickets booked through IRCTC.

Personal income tax

1.    Existing rate of tax for individuals between Rs.  2.5- Rs 5 lakh is reduced to 5% from 10%.

2.    All other categories of tax payers in subsequent brackets will get a benefit of Rs 12,500.

3.    Simple one page return for people with an annual income of Rs. 5 lakh other than business income.

4.    People filing I-T returns for the first time will not come under any government scrutiny

Income	Tax rate
Individual tax payers
Up to Rs 2,50,000	No tax
Rs 2,50,001 to Rs 5,00,000	5%
Rs 5,00,001 – 10,00,000	20%
More than Rs 10,00,000	30%
Senior citizens who are 60 years old and above but less than 80 years
Up to Rs 3,00,000	No tax
Rs 3,00,001 to Rs 5,00,000	10%    (Is it not 5%?)
Rs 5,00,001 to Rs 10,00,000	20%
More than Rs 10,00,000	30%
Senior Citizens who are 80 years old and above
Up to Rs 5,00,000	No tax
Rs 5,00,001 to Rs 10,00,000	20%
More than Rs 10,00,000	30%
(Surcharge of 10 per cent on income of all individuals above Rs 50 lakh and less than Rs 1 crore and surcharge of 15 per cent on income above Rs 1 crore).

 For senior citizens, Aadhar cards giving their health condition will be introduced