Multi-label classification (MLC) is a generalization of standard classification where multiple labels may be assigned to a given sample. In the real world, it is more common to deal with noisy datasets than clean datasets, given how modern datasets are labeled by a large group of annotators on crowdsourcing platforms, but little attention has been given to evaluating multi-label classifiers with noisy labels. Exploiting label correlations now becomes a standard component of a multi-label classifier to achieve competitive performance. However, this component makes the classifier more prone to poor generalization - it overfits labels as well as label dependencies. We identify three common real-world label noise scenarios and show how previous approaches per-form poorly with noisy labels. To address this issue, we present a Context-Based Multi-LabelClassifier (CbMLC) that effectively handles noisy labels when learning label dependencies, without requiring additional supervision. We compare CbMLC against other domain-specific state-of-the-art models on a variety of datasets, under both the clean and the noisy settings. We show CbMLC yields substantial improvements over the previous methods in most cases.