Income tax rates slabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. For assessment year 20 14, additional surcharge called the education cess on income tax and secondary and higher education cess on income tax shall continue to be levied at the rate of two per cent. Income tax slabs income tax rates fy 2014 av 201415. Assessment year 200809, relevant to financial year 200708. Income tax department has issued a circular about tds on salary and all the aspects of income tax on salary, different circulars and notifications, forms, deduction on salary etc. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Different slab rates are mentioned in it act for different categories of persons and based on this a person is taxable under it act. Income tax rate applicable to partnership firm for ay 2021. Here are the slabs for the income tax for the income incurring in fy 20 2014. Income from capital gains is classified as short term capital gains and long term capital gains. As it is announced by fm that no revision in income tax structure for the year 20 14 assessment year 201415, the income tax structure for the year 2012 to continue which given as follows. A 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 income tax slab rates a.
Income tax slab from assessment year 20012002 to a. As it is announced by fm that no revision in income tax structure for the year 2014 assessment year 201415, the income tax structure for the year 2012 to continue which given as follows. Senior citizen who is of the age of 60 years or more but below the age of 80 years at any time during the previous year. Income tax return for the assessment year 2014 advisory. Please understand these tax slabs to come up with your income tax liability. Dec 18, 20 income tax slab tells the tax rate at which you have to pay tax on income.
The new income tax rates or income tax slabs are effective from april 01, 2011. Assessment year ay 20 14 the latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. Use our free income tax calculator for getting an idea of how much tax you will be saving compared to last year per the latest tax rates. Income tax slab rates for financial year 201516 assessment. In this budget, a full tax rebate was announced for all the tax paying assessees who have a taxable income of up to rs. Income tax slab 20 2014 income tax income tax is a form of direct tax. Income tax ratesincome tax slab for assessment year 202021 previous year. Education cess, and secondary and higher education cess are payable by both resident and nonresident assessees. In this part you can gain knowledge about the provisions relating to tax. In case of individual other than ii and iii below and huf. Sep 12, 2012 financial year 2012 assessment year 2014 for very senior citizens age 80 years and above resident of india income. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. Apr 19, 2019 income tax slab for financial year 20 14 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. What are the slabs and exemptions for assessment year 201415 fy 20 14.
Income tax rates slabs for the financial year 20112012 a. Assessment year 20 14, relevant to financial year 2012. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account number. The revised income tax slabs and rates for financial year 201920 the interim budget for 2019 was recently announced on 1 february 2019. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. Today we are providing income tax slab rates for assessment year 201617. 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. Calculate tax liability for ay 201415 income slabs tax ratesi. For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and gazetted warwounded freedom fighter, income tax. Income tax slab rate for assessment year 202014 tax. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. 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.
Latest income tax slabs in india fy 201617 or as 201718. It is the major source of revenue to the government. Income tax slab for financial year 2012 assessment year 20 14 tax man women senior citizen rate in rupees in rupees in rupees 1 0 00 upto 2 00 000 upto 2 00 000. Income tax slabs for financial year 2014 goodreturns. Income tax slab tells the tax rate at which you have to pay tax on income. 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. From financial year 200708 onwards, an additional surcharge is chargeable at the rate of one percent of income tax not including the education cess on income tax. Financial year 201516 assessment year 201617 every year the income tax rates are changed and it is important to get the latest income tax rates. Income tax rates for domestic companies corporate tax rate for the financial. For assessment year 20182019 financial year 20172018 individual resident aged below 60 years i. 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. For financial year 20 14, additional surcharge called the education cess on income tax and secondary and higher education cess on income tax shall continue to be levied at the rate of two per cent. 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. 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 rates for local authority for the financial year 20 14 a. Income tax rate for individuals and house of undivided family huf for the f. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as. Before discussing about the recent changes made in the details to be given in the income tax return forms let us check out the. Government of india income tax slab rates for ay 201220. Also health and education cess of 4% is applicable on the amount of tax computed, inclusive of surcharge. Income tax rates for assessment year 199293 income slab rs. Net income range income tax rates health and education cess up to rs. Here is the ready reckoner of tax slabs for the financial year 20 14 which.
Income tax rates for assessment year 20 14 wbxpress. Rajesh goyal the following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 20 14. Income tax amendment for the assessment year 201415. Rate of income tax assessment year 202122 assessment year 202021 up to rs. We have provided the latest income tax slabs for financial year 20 14 or assessment year 201415 almost the slabs and rates for income tax 20 14 are similar to previous year i. India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. Please click on the links below to view the income tax also written shortly as i. Income tax rates for financial year 2012 and ay 2014.
Government of india has increased the basic personal income tax exemption limit from rs. 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 financial year 20202021 ay 202122 march 31, 2020 income tax slabs fy 202021 ay 202122 february 15, 2020 union budget 2020. Applicable to individual male below the age of 60 years and huf. Apr 22, 20 the slab of income tax rates for fy 2012 ay 20 14 is to some extent different from that of slab of fy 1112 ay 2012. Tax on longterm capital gains income tax department. Income tax rates financial year 2014 incometax slabs. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Jul 27, 2011 income tax slab for financial year 2012 assessment year 20 14 tax man women senior citizen rate in rupees in rupees in rupees 1 0 00 upto 2 00 000 upto 2 00 000.
Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. This means its applicable for the income generated between 1st of april 2012 to 31st march 20. With effect from assessment year 201718, period of holding to be considered as 24 months instead of 36 months in case of. A in case of individual including women whose age is not more than sixty years. Income tax slabs for assessment year 2014 financial year.
The following it rates were applicable for the financial year ending march 31, 2014 financial year 20 14 assessment year 201415. What is the income tax slab rate for assessment year 202014. Union budget 20 14 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. Latest income tax slabs and rates for fy 2012 and as. Income tax rates for assessment year 2014 wbxpress. The slides show tax slabs for general tax payers age below 60 years, female tax payers age below 60 years, senior citizens age between 60 to 80 years and super senior citizens age above 80 years. For the assessment year 2021 the local authority will be taxed at 30 percent. Aug 29, 2012 a quick look at income tax slabs in india for financial year 2012 20 and tax assessment year 20 2014. Income tax slab rates for ay 20142015 and fy 202014. There are three categories in income tax slabs which is for individual, senior citizen and senior citizen with the age of 80 years and more. Oct 15, 2012 income tax slab rates for financial year 2012 20 i. Please find given below the forms issued by income tax department for returns filing as per categories mentioned below. Latest income tax slabs in india fy 201617 or as 201718 income range.
Income tax slab rates for ay 20142015 and financial year 20 14 income tax slabs and rates are changed almost every year. For individuals below 65 years age, other than woman assessees. Income tax structure 2014 assessment year 201415 budget highlights. Income tax rate for last 15 years for individual, huf. Latest income tax slabs and rates for fy 2012 and as 2014. For normal category the simple calculation is as follows.
Income tax 2014 changes in budget affecting salaried. Latest income tax slabs rates for fy 2012 and as 2014. The tax slab for financial year 20 2014 is the same as that of financial year 2012 20. This is the income tax slabs for financial year 2012 and the analysis year 20 14. Income tax slabs for assessment year 2014 financial. There is no separate income tax slab for a woman tax payer.
Jun 18, 20 income tax return for the assessment year 2014. 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. Please note that the income of financial year 20 2014 is taxable at the tax rate applicable for assessment year 20142015. The latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. Income tax rates for assessment year 200405 income slab rs. A ministry of finance has come up with many changes with regard to filing income tax return for the assessment year 2014 relating to the financial year 2012. For individual age below 60 years, income tax is nil upto a net income of rs. Tax slab for financial year 201516 assessment year 1617. Various examples of calculation of income tax learn. Tax slab for financial year 201415 assessment year 1516 for men below 60 years of age for senior citizens age 60 years or more but less than 80 years. Home loan income tax exemption limit increased from rs.
Today we are discussing on income tax slab rate for assessment year 20 2014 of all form of business, reason behind discussion is that because the last date of filling belated return for f. For senior citizens age 60 years or more but less than 80 years. Income tax rates financial year 2014 incometax slabs and. Taxable income in 10% slab maximum tax will be rs 32000. Income tax rates for assessment year 2014 learn accounts. Surcharge is 10% of the income tax, if net income exceeds rs. The finance minister has introduced many changes in the income tax slab rate for financial year. The following income tax rates are applicable for the financial year ending march 31, 2016 i. No surcharge will be charged on income tax payable. Last 25 years income tax rates linkedin slideshare. Income tax slabs ay 201415 fy 20 14 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. India income tax slabs for assessment year 20 14 financial year 2012 20 general tax payers income tax slab in rs. Income tax rates for fy 2014 assessment year 201415.
Income tax rates for assessment year 20142015 previous year 2014. Gross dividends received by an indian company from a specified foreign company in which it has shareholding of 26% or more at the rate of 15% if such dividend is included in the total income for the financial year 2012 i. X is 42 years old and her basic income tax exemption limit for financial year 201415 is rs. Income tax slab rates for financial year 2014 assessment. For individuals below 60 years age including woman assessees. However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. These rates are subject to enactment of the finance bill 2012. Income tax rate for last 15 years for individual, huf, aop and boi last updated on june 3, 2014 by editorial staff income tax rate is a percentage specified in the finance bill as a rate to be charged on the taxable income of financial year to which the finance bill is relevant. Income tax slab for filing tax return on income in india. Arun jaitley in his maiden budget speech on 10july2014 announced changes in the income tax slab for the assessment year 20152016 financial year 20142015.
Please note that the income of financial year 2012 20 is taxable at the tax rate applicable for assessment year 20 2014. In the case of a person being an individual where the total income includes income chargeable to income tax, under the head. 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. Jul 14, 2014 income tax slab for the assessment year 20152016. Income tax slabs and rates for ay 201415 fy 2014 a. May 24, 20 new income tax return forms 2014 assessment year return forms for assessment year 2014. What is income tax rates in india for financial year 20 14.
Tax rates for financial year 2012 assessment year 2014. Senior citizens aged 60 years but less than 80 years at any time during the previous year. In case income is more than rs 1 crore, a surcharge of 12% is applicable on the income tax amount. Income tax slabs income tax rates and deductions for fy 2014.
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