As per Section 2(1) of Finance Act 2017,
- Subject to the provisions of sub-sections (2) and (3),
- for the assessment year commencing on the 1st day of April, 2017,
- income-tax shall be charged at the rates specified in Part I of the First Schedule and
- such tax shall be increased by a surcharge, for purposes of the Union, calculated in each case in the manner provided therein.