Income tax slab fy 2014-15 ay 2015-16 pdf

Income tax slab rates for individualhuf for fy 201819 ay 201920 income tax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. In the following sections we will discuss the income tax rates for fy 20182019 ay 20192020 and some other key features of income tax. Latest income tax slabs and rates for fy 201516 and ay. Fill up the relevant details to know your tax liability for fy 201415 income tax slabs for fy 2014 15 education cess of 3% surcharge of 10% on rs 1 crore plus income earners tax credit of rs 2,000 for income up to rs 5 lakhs us 87a there are no separate slab for male and female income tax slab tax up to rs. Incometax slab rates for individual for fy 201516 ay. Aug 04, 2014 tds rate chart fy 2014 15 ay 2015 16 tds due dates 18 0 raj kumari monday, august 4, 2014 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. Tax rebate of rs 2000 to resident individuals whose total income is less than rs 5,00,000. Detailed article on the income tax slabs rates for fy 201415 and ay 201516. Tax slabs for financial year 2014 15 or assessment year 2015 16. Availabilityincome tax rebate section 87a fy 201415 ay 201516.

Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Income tax slab rates for individual for fy 2014 15 ay 201516. Download income tax slab for ay 201617 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 201617. Surcharge of 7% is applicable if total income exceeds 1 crore. Highest tax rate including surcharge has come down from 56% in fy 199091 to 30. Ay 201617, the following rates were also applicable for fy 201415 ay 201516 latest income tax slabs in india fy. 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. My next question is that how should be calculated the income tax. Tax slab for financial year 201516 assessment year 1617. Income tax is imposed on the basis of ability to pay. We give below the income tax rates and slabs applicable for the fy 2015 16 or ay 201617. Income tax slab rates 201819 pdf download ay 201920. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012.

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 income tax rates health and education cess up to rs. It covers all tax saving sections slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The exemption limit for income tax has also increased more than 10 times from rs. Income tax slab rates for fy 201617 ay 201718 budget. Income tax slab 201718 ay 201819 budget 2017 from fy 201718, those with annual income between rs 50 lakh to rs 1 crore will be levied a surcharge of 10 per cent. Union budget 201516 and 2014 15 have not altered the rebate available under section 87a for fy 201516, 2014 15 or ay 201617, 201516 meaning thereby that effectively there will be no income tax payable up to the total income of rs. Surcharge of 12 % is applicable if total income exceeds 10 crores. Here is a primer on income tax slab rates for ay 201617. Income tax rates on partnership firm for ay 201516. Now my total income is rs 591684 including the arrears.

However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. Incometax slab rates for individual for fy 201415 ay. Fy 201415 note the new government has presented the budget for ay 201516 on 10. Income tax rates on partnership firm for ay 2015 16. My next question is that how should be calculated the income tax for current year. Income tax slabs income tax rates fy 201516 av 201617. Income tax rates on partnership firm for ay 201516 cakart. View rates for deduction of tds for payments of salary wages and other payments to various payees for ay 202021. Income tax slab rates for individual for fy 201516 ay 201617 tax expert. Income tax slab rates for last 25 years in india 199293 to. Individual income tax rates australian taxation office. Income tax slab rates for last 25 years in india 199293. Hope, now you all know the income tax rates on partnership firm. Income tax slabs for fy 2016 17 budget 2015 has made no change in the income tax slab.

Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Incometax slab rates for individual for fy 201415 ay 201516. Income tax rate slab changed for financial year 201415 and the analysis year 201516 on the union budget. Government of india income tax slab rates for ay 20142015. Income tax slabs income tax rates fy 201415 av 201516. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Income tax rate slab changed for financial year 2014 15 and the analysis year 2015 16 on the union budget. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax slab income tax rate income upto rs.

Income tax rates 20142015 for filing individual tax returns. The new income tax rates or income tax slabs are effective from april 01, 20. But the tax slabs have not been changed for the last few years. Apr 14, 2020 income tax slabs ay 2014 15 fy 2014 income tax slabs ay 2015 16 fy 2014 15 income tax slabs ay 201617 fy 2015 16 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. We provide you the latest income tax rates in india for everyone and tax benefits for the current. As there was no change in income tax slabs for fy 201516 i. 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. Tax slab for financial year 201415 assessment year 1516. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here free income tax calculator for calculating tax.

Availabilityincome tax rebate section 87a fy 201415 ay. Even the lowest tax rate has gone down from 20% to 5%. Union budget 201516 and 201415 have not altered the rebate available under section 87a for fy 201516, 201415 or ay 201617, 201516 meaning thereby that effectively there will be no income tax payable up to the total income of rs. Income tax slab of last 20 years from ay 20012002 to ay. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. We will cover other aspects like filing of income tax return of partnership firm, assessment of partnership firms and book profit. Given below are the various tables for the latest income tax slabs for the fy 20202021. If you are under the age of 18, and receive unearned income for example. Latest income tax slabs and rates for fy 201516 and ay 201617. Income tax slabs and rates for fy 202021 bankbazaar. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. Assessments under income tax law income tax ratesipc, crpc.

In this post i restrict my subject towards new tax slabs for fy 201415. Ay is assessment year latest income tax slab rates for fy 201617. The above rates include changes implementing changes announced in the 201819 federal budget. For individuals below 60 years age including woman assessees. The amount of income tax shall be increased by education cess on income tax at the rate of two percent of the income tax. Now income tax exemption is raised by 50000 to 250000. Government of india income tax slab rates for ay 2014 2015 government of india has increased basic income tax exemption limit from rs. 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. Jul 10, 2014 in this post i restrict my subject towards new tax slabs for fy 2014 15. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. Optional new tax regime no change in the existing tax slab rates, but a new tax regime has been proposed. However it has increased the surcharge from 12% to 15% applicable for income above rs 1 crore.

This rate will continue to be the same as that specified for financial year 2014 15 i. 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. Oct 14, 2019 the new income tax rates or income tax slabs are effective from april 01, 20. Incometax slab rates for individual for fy 201516 ay 2016. May 31, 2014 a quick and simple deck covering all tax saving investments available for individuals in india for fy 201415 ay 201516. Income tax circular 2014 circular, income tax 2012 amendment of income tax ordinance section 19. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 2015 16 for last fy 2014 15. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. Income tax calculator for financial year 20082009 71.

I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 201516 for last fy 201415. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax. Income tax at a glance among direct taxes, income tax is the main source of revenue. The basic exemption limit has been increased from rs 2 lakh to rs. Ay 201617, the following rates were also applicable for fy 2014 15 ay 2015 16 latest income tax slabs in india fy 201617 or as 201718. Apr 09, 2018 income tax slabs for fy 2014 15 ay 2015 16. 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. For senior citizens age 60 years or more but less than 80 years. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. Hence this provision continues for ay 201516 as well.

This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Finance bill 2014 is silent on the section 87a, which was introduced by finance bill 20 with effect from ay 201415 and provides a rebate of rs. Paripatra2014 income tax paripatra income tax 202014. Rates of incometax for fy 201415 ay 201516 as per the finance no. Income tax slabs income tax rates and deductions for fy 2017. 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. 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. Important points to know while filing itr this year. Income tax slab rates for individual for fy 201415 ay 201516. Download income tax calculator for fy 201415 ay 201516. This rate will continue to be the same as that specified for financial year 201415 i. Aug, 2019 during fy 201415 ay 201516 my income works out rs 3,50,000. Detailed article on the income tax slabs for fy 2014 and ay 201415. My question is that this arrear should not be added in previous year.

The amount of incometax shall be increased by education cess on income tax at the rate of two percent of the incometax. Additional surcharge on income tax secondary and higher education cess on incometax. How income tax structure, slabs in budgets over last 4 assessment years changed during pm modi regime. View income tax slab and rates for all tax payers for ay 202021, ay 202122 and ay 201920. Union budget 2015 16 and 2014 15 have not altered the rebate available under section 87a for fy 2015 16, 2014 15 or ay 201617, 2015 16 meaning thereby that effectively there will be no income tax payable up to the total income of rs.

Assessment year 201516, relevant to financial year 201415. You can complete filing your income tax return in just 15 minutes using the website or the mobile app. Income tax slab rates specify the threshold annual income limits at which a higher or lower rate of tax is applicable. Income tax calculator for fy 2014 15 ay 2015 16 351. Income tax rates slab for fy 201415 or ay 201516 ebizfiling. As there was no change in income tax slabs for fy 2015 16 i. Income tax calculator for india, download excel based tool. Government of india has increased the basic personal income tax exemption limit from rs. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. Income tax rates for financial year 201617 taxmann. The amount of income tax shall be increased by a surcharge at the rate of twelve percent of such income tax in case of a firm having a total income exceeding one crore rupees. Fy 201516 note the government has presented the budget for ay 201516 on 28. Tax slabs for financial year 201415 or assessment year 201516.