1. Finaance Minister of India Presented 5th & last Budget of his Government on 1st February 2018 in Parliament. No changes has been made in Slabs of Income Tax. S & E Cess has bben increased from 3 to 4% giving an  additional tax burden on people.  2. Standard deduction of Rs.40000/- has been reintroduced and allowed to saleried and penssioner assessee on  the other hand allowances u/s section 17 i.e free convince allowance and fixed medical allowance has been withdrawn. 3. No benefits has been given to NRI.s . 4. proposed to bring listed entities under long-term capital gains tax. Currently, profits from stock and equity mutual fund investments held for more than 12 months are tax exempt. Under the new proposal, long-terms capital gains made on investments up to January 31, 2018 will not be taxed, the finance minister said on Thursday.