Income tax slab tells the tax rate at which you have to pay tax on income. Highest tax rate including surcharge has come down from 56% in fy 199091 to 30. 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. Tax 0 to 2,50,000 no tax 2,50,001 to 5,00,000 10% 5,00,001 to 10,00,000 20% above 10,00,000 30%. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty. Income tax department time series data financial year 2000.
New income tax slab for fy 2014 ay 201415 for resident senior citizens 60 years. Income tax return filing ay 201415which forms to use. In the following post, we see the rates which are applicable for different entities. Income tax rates slab for fy 2014 or ay 201415 ebizfiling. Income tax slabs for financial year 201415 mytaxcafe.
Income tax return statistics assessment year 201415 income tax department pan allotment. Income tax ratesslab for assessment year 201415 previous year 2014 rates %age. Additional surcharge on income tax secondary and higher education cess on incometax. Download income tax calculator for fy 201415 ay 201516. Incometax slab rates for individual for fy 201617 ay.
Income tax rates for assessment year 20162017 previous year 201516 income tax rates for assessment year 20152016 previous year 201415 income. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Or any new form for ay 20142015 has been prescribed. Highlights of change in direct taxes in the union budget 20 1. Rates of depreciation under section 32 assets rate building residential building other than hotels and boarding houses 5% office, factory, godown or building 10%. The new itr forms have been released by cbdt for fy 201415 income tax returns filing. The central board of direct taxes cbdt has notified the income tax returns itr for financial year 201415 assessment year 201516. Calculation of income tax for salaried employees bnn lakshmaji rao, assistant accounts officer. 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. Income tax slab rates 201819 pdf download ay 201920. However, the surcharge shall be subject to marginal relief where.
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 return statistics assessment year 201819. Rate of surcharge applicable individual is as under. Even the lowest tax rate has gone down from 20% to 5%. Amendments to the act, relating to filing of return of income, applicable with effect from ay 201415. Government of india has increased the basic personal income tax exemption limit from rs. The basic exemption limit has been increased from rs 2 lakh to rs. 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 10% of such income tax, provided that the total income exceeds rs. Download income tax calculator for fy 201516 ay 201617 income tax slab for fy 201415 ay 201516 the income tax slab has changed for general public and senior citizens.
Government of india income tax slab rates for ay 202014. Surcharge and education cess see note income tax slab rates 201819 pdf download. Scroll down below and download excel utility of form 16. A building shall be deemed to be a building used mainly for residential purposes, if the builtup floor area thereof used for residential purposes is not less than sixtysix and twothird per cent of its total builtup floor area and shall include any such building in the factory premises. Net income range rate of incometax as amended by finance act, 2020 assessment year 202122 assessment year 202021 up to rs. Assessment year 201415, relevant to financial year 2014. Income tax structure 2014 assessment year 201415 budget highlights. Rate under section 7520 for april 2014 applicable federal rate for determining the present value of an annuity, an interest for life or a term of years, or a remainder or reversionary interest 2.
Buildings include roads, bridges, culverts, wells and tubewells. Income tax rates for ay 201516 financial year 201415. Incometax slab rates for individual for fy 201617 ay 201718 mitra 1. Recently we also provide an artile for form 16 tds understand form 16 download excel utility.
Income tax slabs income tax rates fy 201415 av 201516. For individuals below 60 years age including woman assessees. Income tax rates for assessment year 199293 income slab rs. Income tax slab rates 201718 pdf download ay 201819. Nonresident individualhuf net income range income tax rates health and education cess up to rs. 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. India income tax slabs 20142015 for senior citizens aged 60 years but less than 80 years. Income tax amendments applicable for the assessment year. How income tax structure, slabs in budgets over last 4. 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. Income tax slabs income tax rates and deductions for fy 20.
Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. The exemption limit for income tax has also increased more than 10 times from rs. Qualification disqualification of auditors under companies act 20. Here we are providing form 16 in excel format you can download form 16 in excel format from below. The latest tax slab for fy 201415 for individualshuf, aopboitrust, firm llp, company, cooperative societies, local authorities. Income tax rates in india and comparison with other countries and exemption. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. To learn more about the income tax slabs ay 1819, click here.
Tax rates for 20142015 year residents the basic tax scale and marginal rates for the 201415 financial year have been in place for three financial years. The data is based on the number of incometax returns entered in the system plus number of cases where tax has been deducted at source from the income of the taxpayer but the taxpayers has not filed the return of income. India income tax slabs 20142015 for general tax payers and women income tax slab in rs. Refer the new forms list for fy 201516 ay 201617 details in. However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. Individual income tax rates for prior years australian. The below table will give you details of usage of forms by assessee. Fy 201415 note the new government has presented the budget for ay 201516 on 10. 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.
The amount of incometax shall be increased by education cess on income tax at the rate of two percent of the incometax. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. 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. Treatment of original issue discount on taxexempt obligations the.
For senior citizens age 60 years or more but less than 80 years. Income tax rates 20142015 for filing individual tax returns. 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. Notewe deactivated commenting option for this post. No surcharge will be charged on income tax payable. The new income tax rates or income tax slabs are effective from april 01, 2012. Income tax return assessment year 2014 15 slideshare. Detailed article on the income tax slabs for fy 2014 and ay 201415. Income tax rates for previous year 2014 assessment year 201415 for filing income tax returns in india for salaried and business income of individuals. Income tax 201415 exemptions available to salaried. Cash payment limit reduced to rs 0 from rs 20000 earlier. The income tax rates and slabs applicable for the financial year 2014 or for assessment year 201415 are given below. 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. Last 25 years income tax rates linkedin slideshare.
Calculation of tds on salary for fy 2014 ay 201415. Incometax slab rates for individual for fy 201415 ay 201516. 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 the head salaries for the financial year 2014 i. The amount of rebate is 100 per cent of income tax or rs.
Income tax slab for filing tax return on income in india. Provisional returns for ay 201415 can be filed till 31. Income tax amendment for the assessment year 201415. It is deductible from income tax before calculating education cess. Income tax is imposed on the basis of ability to pay. Income tax slab for financial year 201415 posted on. This rate will continue to be the same as that specified for the financial year 20121 3. For income tax purpose citizens above age of 60 are considered as senior citizens and above age. Surcharge and education cess see note income tax slab rates 201718 pdf download. Income tax at a glance among direct taxes, income tax is the main source of revenue. The rates of income tax in the case of every individual other than those mentioned in ii and iii below or hindu undivided family or every association of persons or body of individuals, whether incorporated or not, or every artificial juridical.
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. The above rates do not include the temporary budget repair levy. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. The income tax department has come out with all return form applicable for ay 201415. 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 201415 exemptions available to salaried employees for the financial year 201415 assessment year 201516 finance act 2014 has made following changes relating to determination of income tax payable by salaried employees, which provide income tax exemption varied from rs. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. Incometax slab rates for individual for fy 201516 ay. If you have any doubts, then either ask the same in the latest post income tax return filing forms for ay 201617 fy 201516which form to use. Rate of income tax for individual a slab rate assessment year 201415.