The slabs and rates shall remain the same as are currently for the ay 201819 which are as under. Highlights of change in direct taxes in the union budget 20 1. Education cess, and secondary and higher education cess are payable by both resident and nonresident assessees. Mentioned below are the professional tax slab rates applicable for salaried and selfemployed professionals in maharashtra. Income tax rates for fy financial year 20 14 ay assessment year 201415, for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. New optional basic income tax exemption slabtax rates. Below are the latest income tax slab rates for fy 201718 or ay 2018 19. Government of india income tax slab rates for ay 20152016. Partnership firm are taxed at a flat rate irrespective of income for the a.
In the case of a resident individual of sixty years or more but less than eighty years, the basic exemption limit is inr 250,000. 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. 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 20 14. However, in case of a nonresident individual the tax rates will be same irrespective of his age. Please click here for latest personal income tax rates 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 for financial year 201516 assessment.
Latest income tax slabs and rates for fy 2012 and as. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. 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 rates income tax slabs bihar chamber of commerce. The government of maharashtra of also revised its professional tax slab rates for the financial year 201516. Income tax slabs income tax rates fy 201415 av 201516. In order to provide significant relief to the individual taxpayers and to simplify the incometax law, the union budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be significantly reduced for the individual taxpayers. Apr 14, 2020 lets get the insights of the income tax slabs for fy 201819 ay 201920 income tax slab for resident individual aged less than 60 years059 years same slab rates shall apply for both male and female resident taxpayers. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Incometax slab rates for individual for fy 201516 ay 201617 incometax slab rates for individual for fy 201415 ay 201516. Incometax slab rates for individual for fy 201516 ay 2016. Even if pf is calculated at higher amount, for eps, we will take 15000 limit only. Income tax slabs for assessment year 2014 financial. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by.
Incometax act 1961 from income chargeable under the head salaries for the financial year. Proposed tax slab for financial year 14 assessment year 1415. Income tax slabs for assessment year 2014 financial year 201220 india income tax slabs for assessment year 2014. Maharashtra professional tax slab rate, latest news. Tagsincome tax slabs,income tax slabs for financial year 2012,income tax slabs for ay 2014,income tax slabs for 12,income tax slabs for ay 14,education cess on income tax,surcharge on income tax,higher education cess on income tax.
Immovable property other than agricultural land 194ia 1 1 instantxbrl rs. Income tax slabs for financial year 2014 goodreturns. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay. Income tax rates on partnership firm for ay 201516 cakart. Income tax slab for fy 2012 ay 2014 ncome tax slabs for ay 14 for resident senior citizens above 60 years fy 2012 no. The new income tax rates or income tax slabs are effective from april 01, 20. Tax rates applied on charitable and religious trusts a.
Tax slab for financial year 201516 assessment year 1617. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. In order to provide significant relief to the individual taxpayers and to simplify the incometax law, the union budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be. The new income tax slab for fy 20202021 has revised the income tax slabs for different income groups. Incometax slab rates for individual for fy 201617 ay 2017. Tax slabs for financial year 201415 or assessment year 201516 income tax return filing ay 201415. Please click on the links below to view the income tax also written shortly as i. The category of women below the age of 65 years has been removed.
Union budget 20 14 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. Income tax rates for fy financial year 2012 ay assessment year 20 14, for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Income tax rates slab for fy 2012 or ay 2014 ebizfiling. How to sign pdf file through digital signature service tax liability of any person other than service provider tallyerp. Income tax slabs for assessment year 2014 financial year. Oct 14, 2019 the new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2008 to march 31, 2009. Income tax department income tax return statistics assessment.
Find out the income tax slab rate for ay 201718 here. Mar 31, 20 tds rate chart fy 20 14 tcs rate chart 14 43 0 raj kumari sunday, march 31, 20 edit this post deduction of tax at correct rate is very important for deductor and minor mistake in deduction leads to penalty in shape of interest on late deposit and dis allowance of expenses. 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. On income of private discretionary trust where shares of beneficiary are not known. Income tax slab rates from ay 199293 to ay 201516 download income tax calculator for a. Tagsincome tax slabs,income tax slabs for financial year 2012 ,income tax slabs for ay 20 14,income tax slabs for 12 ,income tax slabs for ay 14,education cess on income tax,surcharge on income tax,higher education cess on income tax. Income tax slabs and rates for fy 202021 bankbazaar. The new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2008 to march 31, 2009. 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. Here is a primer on income tax slab rates for ay 201617. On income of private discretionary trust where shares of. Incometax slab rates for individual for fy 201617 ay. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Government of india has increased the basic personal income tax exemption limit from rs.
For senior citizens age 60 years or more but less than 80 years. But the tax slabs have not been changed for the last few years. Income tax slabs income tax rates and deductions for fy 20. Income tax rates slab for fy 201718 ay 201819 the finance bill, 2017. Income tax slabs and rates for the ay 201920 fy 201819. May 05, 2011 tax slab of the current assessment year ay i. In case of individual other than ii, iii and iv below and huf. Income tax slab for financial year 201516 budget 2015 as the budget for the financial year 2015 income tax slab rates for individuals who is a resident in india who have during the income tax slab rate f. Latest income tax slab rates for fy 201718 ay 201819. Detailed article on the income tax slabs for fy 2012 and ay 2014. Income tax rates on partnership firm for ay 201516.
Hdfc life provides the latest income tax slab rates and deductions in india for tax. Partnership income tax slab income tax rates on partnership firm for a. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. The constitution of india schedule vii union list entry 82 has given the power to the. Latest income tax slabs in india fy 201617 or as 201718. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 20 14.
Income tax rates for assessment year 20202021 previous year 201920. Assessment year personal finance guide to mutual funds, stocks, insurance, investments, loans, tax planning, nonresident indians related issues. New income tax slabs for ay 14 for others men fy 2012. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. Incometax slab rates for individualhuf for fy 201819 ay 201920 incometax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. Income tax slab rate for ay 202122 for individuals opting for old tax regime. Income tax rates income tax slabs for ay 2012 individuals and hufs. Income tax slab for individuals, senior citizens, hufaop, etc. Given below are the various tables for the latest income tax slabs for the fy 20202021. It offers special privileges for women professional tax payers. Likewise, the government of maharashtra of also revised its professional tax slab rates for the financial year 201920.
Fy 201415 note the new government has presented the budget for ay 201516 on 10. The states in india revise their professional tax rates for every financial year. Latest income tax slabs and rates for fy 2012 and as 2014. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Rates of tax for every individual, resident in india, who is of the age of sixty years or more but less than eighty years at any time during the financial year. Income tax amendment for the assessment year 201415. Income tax slabs for ay 14 for resident senior citizens above 60 years fy. Palaniappan chidambaram, 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, february 29, 2008 in new delhi.
Income tax slabs income tax rates fy 2014 av 201415. Income tax rates for assessment year 20172018 previous year 201617 income. We will cover other aspects like filing of income tax return of partnership firm, assessment of partnership firms and book profit. Income tax rates for financial year 2012 and ay 2014.
New optional basic income tax exemption slab and reduced tax rates announced in budget 202021 for ay 202122 fy 202021. Senior citizen individual resident who is of the age of 60 years. New optional basic income tax exemption slabtax rates budget. Fy is financial year and ay is assessment year individual resident aged below 60 years. Tax rates applied on charitable and religious trusts. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201718 in the parliament. Income tax slab for fy 2012 ay 2014 ncome tax slabs for ay 14 for resident senior citizens above 60 years fy 2012 s. Government of india income tax slab rates for ay 20092010. No changes have been proposed in either individual tax rates or slabs for the ay 201920.
Get income tax slab rates and income tax deductions in india for assessment year ay 201617. These rates are subject to enactment of the finance bill 2012. Incometax slab rates for individual for fy 201718 ay 201819 incometax slab rates for individual for fy 201617 ay 201718. The normal tax rates applicable to a resident individual will depend on the age of the individual. There is no change in 10%, 20% and 30% slab rates they remain the same. In the case of a resident individual of the age of eighty years or above. 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. Income tax slab rates for financial year 2014 assessment. Income tax slab for filing tax return on income in india. The basic exemption limit has been increased from rs 2 lakh to rs.
832 42 989 839 1300 1132 149 1381 660 1215 751 211 487 1481 403 1315 1475 1219 1072 646 301 520 967 1320 227 855 92 210 445 1140 444 1470 241 1175