Income tax slab for individuals, senior citizens, hufaop, etc. As there was no change in income tax slabs for fy 201516 i. Income tax slab rates for 2014 and 201415income tax slabrateincome tax slabrate for assessment year 2014 and income tax rates for f. Latest income tax slab rates, today we provide complete list of all incomes exempt from income tax. Y 201415 are same as budget of 2103 has made no changes in the income tax slabrates for individual, woman,senior citizen, super senior. Income tax slabs income tax rates fy 201415 av 201516. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. The normal tax rates applicable to a resident individual will depend on the age of the individual. Taxable income in 10% slab maximum tax will be rs 32000.
Click here to save tax with hdfc lifes various online insurance products. Kindly note that there has been no changes made to personal income tax structure. Jul 14, 2014 new income tax slab rates for financial year 2014 15. The amount of income tax shall be further increased by education cess of 3% on income tax. Gst on online information data base access and retrieval service oidar.
Income tax rates for ay 201516 financial year 201415. The latest tax slab for fy 201415 for individualshuf, aopboitrust, firm llp, company, cooperative societies, local authorities. Income tax slabs and rates for fy 2014 ay 2014 15, latest amendment for the assessment year 2014 15 detailed guidance, latest tax computation technics with relevant information about income tax 2014 for those salaried state and central government employees. Apr 19, 2019 income tax slab for financial year 2014 ay 2014 15 finance minister p chidambaram presented the union budget on 28th february, 20. Ay is assessment year latest income tax slab rates for fy 201617. Income tax slabs for financial year 2014 goodreturns. Click here to see the income tax slab rates for fy 2014 or ay 201415.
View income tax slab and rates for all tax payers for ay 202021, ay 202122 and ay 201920. We have provided the latest income tax slabs for financial year 2014 or assessment year 201415. Apr 20, 2014 this article gave overview of income tax for ay 2014 15. Assessment year 201415, relevant to financial year 2014. Income tax slabtax rates for individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Jul 11, 2014 income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 2014 15 for individual, huf, aop, boi, partnership firms, llp and companies. Income tax slab rates for last 25 years in india 199293.
For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. Company old tax regime or new tax regime which one to opt. Ay 201516 as proposed by budget 2014 15 finance bill 2014 15 income tax slab tax rates for individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax benefits offered by its online insurance products, for the financial year 2014. The national board of revenue nbr is the apex authority for tax administration in bangladesh. India income tax slabs 2014 2015 for general tax payers and womenincome tax slab in rs. Below are the income tax slab rates for fy 201617 or ay 2017 18. Senior citizen individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income between 50 lakhs and one crore rupees above 1 crore 15% surcharge.
Latest income tax slab rates for individual resident india. Indian income tax slabs, rates, calculators, itr, challan, tds, pan and other forms in excel fillable pdf, information of i t actrules. Income tax slabs and rates fy 2014 it assesment year. Income tax slab rate for ay 201819 for individuals. Ay 201617, the following rates were also applicable for fy 201415 ay 201516. Income tax slabs and tax rates in india for fy 202021. Rates of income tax for fy 2014 15 ay 201516 as per the finance no. Representatives of assamas tea industry have launched an appeal to the centre in hopes of convincing them to maintain the gst slab of tea below the concessional rate of 5 per cent. Income tax slab rate for assessment year 2014 15 i. Union budget 2014 has amended the basic income tax slabs for financial year 201415, however there is no change in the income tax rates, surcharge and cess. Assam tea industry urges centre to keep gst slab under 5%.
Past 25 years income tax rates for individuals, huf, aops, bois ay 199293 to ay 201415 income tax rates for assessment year 199293. Surcharge and education cess see note income tax slab rates 201819 pdf download. Rate of income tax for individual a slab rate assessment year 201415 highlights of change in direct taxes in the union budget 20 1. Some of the highlights of income tax slab rates for fy 201920 assessment year 202021 income tax slab rates help you decide whether your income is taxable or not. Income tax rates slabs for financial year 201415 learn. Rates of incometax fy 2014 ay 201415 as per finance act, 20 as per the finance act, 20, incometax is required to be deducted under section 192 of the act from income chargeable under. Almost the slabs and rates for income tax 2014 are similar to previous year i. Like agriculture income completely exempt under sec 101 etc. The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds rs. There are lot of changes in tax rates and cess in the last 25 years. In the following post, we see the rates which are applicable for different entities. Every year the income tax rates are changed by the government and every year government charged tax on the new tax slab or on the latest tax slabs.
It is deductible from income tax before calculating education cess. Surcharge on income tax if the total taxable income exceeds rs 1 crore, there will be sucharge of 10% of tax payable not 10% of income 4. The amount of income tax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. The rate of wealth tax is only percent on excess wealth amounting to 30 lacs 30 lacs is exemption limit for the financial year 201415 and on wards. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. Income tax slab rates 201718 pdf download ay 201819. For individuals below 60 years age including woman assessees. Income tax slab rates for fy 201617 ay 201718 budget. Income tax rates tax slab for ay 20142015 fy 202014. Increase of tax savings through infrastructure bonds may be allowed for up to rs. Here is a primer on income tax slab rates for ay 201617. This article gave overview of income tax for ay 201415. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay 2012. Find out the income tax slab rate for ay 201718 here.
Highlights of change in direct taxes in the union budget 20 1. Income tax slab for filing tax return on income in india. Below are the latest income tax slab rates for fy 201819 or ay 2019 20. Latest income tax slabs and rates for fy 201516 and ay. Here is the ready reckoner of inomce tax slabs for the financial year 2014 which will help you while filing tax. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201819 in the parliament. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. Income tax slab rates for ay 20142015 and financial year 2014 income tax slabs and rates are changed almost every year. Tax slab for financial year 201415 assessment year 1516 for men below 60 years of age.
Every year the income tax rates are changed and it is important to get the latest income tax rates. For resident woman who is below 65 years of age at any time during the previous year. However, in case of a nonresident individual the tax rates will be same irrespective of his age. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no. Income tax slab for financial year 2014 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. Income tax slab rates for individualhuf for fy 201415. Wealth tax is a tax which is levied on an annual basis on the net wealth of the assesses.
Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. The current assessement year is ay 201819 fy 201718. The amount of rebate is 100 per cent of income tax or rs. Please note that the income of financial year 2014 15 is taxable at the tax rate applicable for assessment year 201516. Cbdt revising income tax return forms due to covid19. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. It is a recurring tax and as such its rates have been kept quite low. Incometax slab rates for individual for fy 201415 ay. Latest income tax slabs and rates for fy 201516 and ay 201617. Normal rates of tax applicable to all individualshuf who are less than 60 years of age. Further, in the fy 201112 ay 2012 men assessees will also get additional basic exemption limit of rs. Income tax slab for financial year 201415 mytaxcafe.
Education cess on income tax at the rate of two percent of the incometax. Income tax rates for ay 201516 financial year 201415 january 4, 2015 by admin. Apr 05, 2014 every year the income tax rates are changed by the government and every year government charged tax on the new tax slab or on the latest tax slabs. Income tax slab from assessment year 20012002 to a. Income tax slab tells the tax rate at which you have to pay tax on income. Income tax slabs and rates for fy 202021 bankbazaar.
Tax 0 to 5,00,000 no tax 5,00,001 to 10,00,000 20% above 10,00,000. Check various deductions you can claim while computing your tax. Income tax slab rates for last 25 years in india 199293 to. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Calculation of tds on salary for fy 2014 ay 201415.
Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. Tax rates as applicable for different persons for the a. Income tax slab for financial year 201415 posted on. Rate of income tax for individual a slab rate assessment year 2014 15. Income tax slab rates for financial year 201516 assessment. Rates of incometax for fy 201415 ay 201516 as per the finance no. However, tax rate is 25% if turnover or gross receipt of the company does not exceed rs. In case of resident individual and huf, where tax liability arises only because of the inclusion of long term capital gains, tax to be levied at 20% or 10% as the case may. Income tax slab rates 201819 pdf download ay 201920. Nonresident individualhuf net income range income tax rates health and education cess up to rs.
The income tax rates and slabs applicable for the financial year 2014 are same as it was during financial year 2012, except the two major changes which was given below. Income tax ratesslab for assessment year 201718 previous year 201617 income tax rates for financial year 201415 and 20152016 are same, there is. Detailed split for general, women, senior citizen etc are provided. Calculate your tax based on the tax slabs for year 20142015. Income tax slab rates for financial year 2014 assessment. Jan 04, 2015 calculate your tax based on the tax slabs for year 2014 2015. Referencer income tax income tax rates ay 201415 fy. General rate slab rate for individual resident aged below 60 yearsnri huf aop boi income slabs tax rates where the taxable income does not exceed rs. Income tax amendment for the assessment year 201415.
We have provided the latest income tax slabs for financial year 2014 or assessment year 201415 almost the slabs and rates for income tax 2014 are similar to previous year i. General rate slab rate for individual resident aged below 60 yearsnri huf aop boi. Income tax slab rates for assesment year 201718, financial year 201617 as per the union budget presented before parliament on 29th february 2016. Tax slab for fy 201011 ay 201112 particulars slab tax rate women assesses up to 1,90,000 nil. Income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for individual, huf, aop, boi, partnership firms, llp and companies. List of all incomes exempted from income tax, list of. The basic exemption limit has been increased from rs 2 lakh to rs. Latest income tax slabs rates for fy 2012 and as 2014. While filing income tax return is no rocket science, it takes a little bit of hard work.
Income tax slab rates for financial year 201516 assessment year201617 resident super senior citizen who is 80 years or more at any time during the previous year. To learn more about the income tax slabs ay 1819, click here. We provide you the latest income tax rates in india for everyone and tax benefits for the current financial year 201415, to know more about income tax slab. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty. Even if you get your returns filed by your chartered account, other party please make sure you understand what has been filled in, if something is left out. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. Ay 201516 as proposed by budget 201415 finance bill 201415. For normal category the simple calculation is as follows. Tax slab for financial year 201516 assessment year 1617. Income tax slab rates for ay 20142015 and fy 202014. Income tax slab rates for fy 201718 ay 201819 india. The amount of incometax shall be further increased by education cess of 3% on incometax. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below.
List of all incomes exempted from income tax, list of exempted incomes 2020. Find full list of all incomes who completely exempt from income tax. Tax rebate us 87a claim upto rs 2000 tax rebate, if the taxable income doesnot exceed rs 5 lakh. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry.