Incometax slab rates for individual for fy 201516 ay 2016. Surcharge on income tax if the total taxable income. For senior citizens age 60 years or more but less than 80 years. Ay 202122 fy 202021 income tax january 12, 2020 understanding bsda basic services demat account demat january 11, 2020 senior citizen savings scheme retirement december 22, 2019 income tax rates. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets.
The above rates include changes implementing changes announced in the 201819 federal budget. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. The amount of incometax 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. Income tax slab rates for financial year 2014 assessment year201415 resident super senior citizen who is 80 years or more at any time during the previous year net income range income tax. Income tax slab rates for last 25 years in india 199293. The basic exemption limit has been increased from rs 2 lakh to rs. You must check out the difference between the 1992 i. Income tax at a glance among direct taxes, income tax is the main source of revenue.
Tax slab for financial year 201415 assessment year 1516 for. Please click on the links below to view the income tax also written shortly as i. Certain income of nonresident, interalia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the income tax act or as per the rates prescribed under the dtaas, whichever is more beneficial to such nonresident. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows.
The revised income tax slabs and rates for financial year 201920 the interim budget for 2019 was recently announced on 1 february 2019. Income tax rates 20142015 for filing individual tax returns. 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. Income tax slab rate for ay 202122 for individuals opting for old tax regime. Union budget 2014 has amended the basic income tax slabs for financial year 201415, however there is no change in the income tax rates. Apr 14, 2020 income tax slabs ay 2014 15 fy 2014 income tax slabs ay 201516 fy 2014 15 income tax slabs ay 201617 fy 201516 income tax slabs ay 201718 fy 201617 income tax slabs ay 201819 fy 201718 income tax slabs ay 201920 fy 201819 income tax slab rates for ay 201011 fy 200910 resident male individuals aged less than 65 years. Net income range rate of incometax assessment year 202122 assessment year 202021 up to rs. Income tax slab tells the tax rate at which you have to pay tax on income. Apr 09, 2018 income tax slabs for fy 2014 15 ay 201516. The rate of income tax in the case of every local authority is specified in paragraph d of part iii of the first schedule to the bill. 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. Steps to file your indian income tax return quickly with. Find the income tax slab rates for the last 7 years all at one place 1 f.
Income tax slabs ay 201415 fy 2014 income tax slabs ay 201516 fy 201415 income tax slabs ay 201617 fy 201516 income tax slabs ay 201718 fy 201617 income tax. Income tax rates slab for assessment year 2014 15 previous year 2014 rates %age. Income tax rates for assessment year 199293 income slab rs. Net income range income tax rates health and education cess up to rs. Here we present to you all income tax slab rates india for past 25 years. Income tax slabs income tax rates fy 2014 av 201415. Income tax calculator for fy 2014 15 ay 201516 351.
Up to 2,00,000 up to 2,00,000 for women up to 2,50,000 for resident individual of 60 years till 80 years. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. Highest tax rate including surcharge has come down from 56% in fy 199091 to 30. But the tax slabs have not been changed for the last few years. 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. However, tax rate is 25% if turnover or gross receipt of the company does not exceed rs.
Normal rates of tax applicable to all individualshuf who are less than 60 years of age. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total. Income tax is imposed on the basis of ability to pay. Apr 05, 2014 new income tax slab for fy 2014 ay 2014 15. Last 25 years income tax rates for individuals, huf, aops, bois ay 199293 to ay 201415 by shankar bose inspector of income tax oo the principal chief commissioner of income tax, odisha, bhubaneswar 2. 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. Past 25 years income tax rates for individuals, huf, aops, bois ay 199293 to ay 201415. Individual resident or nonresident, who is of the age of less than 60 years on the last day of the relevant previous year. Income tax rates for fy financial year 2014 ay assessment year 201415,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Tax slab for financial year 201516 assessment year 1617. The rate of incometax in the case of every local authority is specified in paragraph d of part iii of the first schedule to the bill. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under.
Income tax slab rates help you decide whether your income is taxable or not. Income tax slabs for fy 2014 ay 201415 tally knowledge. Highlights of change in direct taxes in the union budget 20 1. Union budget 2014 has amended the basic income tax slabs for financial year 2014 15, however there is no change in the income tax rates, surcharge and cess.
However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. 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. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Nov 18, 2011 income tax rates after budget 2012 is available here income tax rate chart slabs for assessment year 201112 and earlier years has been given chart form as under in respect of individual, hufhindu undivided family,boibody of individuals so download the charts for link given below or you can read the same online as shown below. Calculation of tds on salary for fy 2014 ay 201415. In this budget, a full tax rebate was announced for all the tax paying assessees who have a taxable income of up to rs. In the following post, we see the rates which are applicable for different entities. Income tax slab rates for financial year 2014 assessment. In this budget, a full tax rebate was announced for.
If you are under the age of 18, and receive unearned income for example. Ay 202021 fy 201920 vote on account income tax october 18, 2018 guide to standard deduction deductions september 22, 2018 number of days work to buy an iphonex others. Ay 202122 fy 202021 income tax january 12, 2020 understanding bsda basic services demat account demat january 11, 2020 senior citizen. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. Hdfc life provides the latest income tax rates in india for different age groups and tax benefits offered by various life insurance policies, for financial year 2014. For resident senior citizens 60 years income range. Government of india income tax slab rates for ay 20142015. The budget 2014 has changed the income tax slab rates slightly as compared to the income tax rates of financial year 2014. Income tax slab from assessment year 20012002 to a. Income tax rates for fy financial year 2014 ay assessment year 2014 15, for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess.
The more a taxpayer earns the more he should pay is the basic principle of charging income tax. The rates of incometax as applicable for assessment year 201516 for the following category is given below. Income tax slab rate for assessment year 2014 15 i. Given below are the various tables for the latest income tax slabs for the fy 20202021. Please note that the income of financial year 2014 15 is taxable at the tax rate applicable for assessment year 201516. Income tax slabs and rates for fy 202021 bankbazaar. Income tax rates tax slab for ay 20142015 fy 202014. Income tax slab rates for individualhuf for fy 2014 15. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021.
Income tax slab for financial year 201415 mytaxcafe. Important points to know while filing itr this year. Tax rebate us 87a claim upto rs 2000 tax rebate, if the taxable income doesnot exceed rs 5 lakh. Income tax slab rates for last 25 years in india 199293 to. Rate of income tax for individual a slab rate assessment year 2014 15. Last 25 years income tax rates linkedin slideshare.
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. Government of india income tax slab rates for ay 202014. 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. Income tax amendment for the assessment year 201415. Rates of income tax for fy 2014 15 ay 201516 as per the finance no.
Assessments under income tax law income tax ratesipc. 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. Income tax slab rates 201819 pdf download ay 201920. Oct 14, 2019 the new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2012 to march 31, 20. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Individual income tax rates australian taxation office. Income tax slab rates for individualhuf for fy 201415.
Income tax calculator for fy 2014 ay 201415, income tax calculator. The exemption limit for income tax has also increased more than 10 times from rs. The new income tax rates or income tax slabs are effective from april 01, 20. Income tax slabs ay 201415 fy 2014 income tax slabs ay 201516 fy 201415 income tax slabs ay 201617 fy 201516 income tax slabs ay 201718 fy 201617 income tax slabs ay 201819 fy 201718 income tax slabs ay 201920 fy 201819 income tax slab rates for ay 201011 fy 200910 resident male individuals aged less than 65 years. Income tax slab rates for the last 7 years yash shindes. Income tax calculator for fy 2014 ay 2014 15, income tax calculator. For general tax payers including women income slab tax rate 0 to 2,50,000 no tax. Oct 14, 2019 government of india has increased the basic personal income tax exemption limit from rs. Pranab mukherjee, the finance minister of india, announced the new personal income tax slab rates while presenting the union budget of india, also called the indian general budget, on friday, march 16, 2012 in new delhi. The latest tax slab for fy 201415 for individualshuf, aopboitrust, firm llp, company, cooperative societies, local authorities. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. For resident senior citizens 60 years pdf download. Download income tax calculator for fy 201415 ay 201516.