Union Budget 2018: No change in income tax slabs, standard deduction introduced

Presenting the Union Budget 2018 in Parliament on Thursday, Finance Minister Arun Jaitley announced that there will be no change in the income tax slabs to levy tax on the income of an individual or non-individual. Jaitley said the government has made many positive changes in the personal income tax rates applicable to individuals in the last three years and therefore it does not wish to make any changes to this.