Income tax slab fy 13 14 pdf free

Income tax calculator for fy 20 14 ay 201415, income tax calculator. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in. 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. Before jumping into latest income tax slab rates fy 202021 ay 202122, first understand the difference between gross income and total income. A government agency that undertakes the direct collection of tax in india is the income. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 20 14. A health and education cess of 4% will be added to the total tax outgo besides a surcharge if your income crosses. Given below are the various tables for the latest income tax slabs for the fy 20202021.

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. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 20 14 2. This is the income tax slabs for financial year 2012 and the analysis year 20 14. Income tax slab rates for individualhuf for fy 201415. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. Following are the major highlights of the latest income tax slab. Rs 12,500 or 100% of income tax whichever is lower for individuals with income below rs 5 lakhs. Another significant change in this budget was abolishing lower tax slab for women. The category of women below the age of 65 years has been removed. Incometax slab rates for individual for fy 201516 ay. 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. 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. The amount of income tax shall be increased by education cess on income tax at the rate of two per cent of the income tax. There will be no surcharge on income tax payments by partnership firm and cooperative society while for domestic company surcharge will be 5% and anad 2% on foreign company for fy 2012 ay 20 14.

Income tax slabs income tax rates fy 20 14 av 201415. Apr 14, 2020 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. As there was no change in income tax slabs for fy 201516 i. Agricultural income is exempt from tax as per section 101 of the act. Income tax slabs for fy 2014 ay 201415 tally knowledge. The amount of income tax shall be increased by education cess on income tax at the rate of 2% percent of the income tax payable by both. First fy 20 14 fy 20 14 means assessment year 201415. Income tax for fy 201920 is applicable to all residents whose annual income exceeds rs. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. Here is the ready reckoner of tax slabs for the financial year 20 14 which.

Income tax it returns, efiling, tax slab fy 202021. Income tax at a glance among direct taxes, income tax is the main source of revenue. 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. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax slab income tax rate income upto rs. The previous income tax slab for year 201220 can be found here income tax slabs 2012. 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. Rates of income tax for fy 201415 ay 201516 as per the finance no. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person.

New sec 80tta exempts up to rs 10,000 interest earned on bank balance. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. New income tax slabs for ay 20 14 for resident senior citizens above 80 years fy 2012 s. 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 income tax slabs vs old tax slabs fy 202021 as per the new tax structure, if you wish to opt for the new tax slab rates, then you will have to give up existing income tax deductions and exemptions, like hra, section 80c, home loan tax benefits etc.

Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. The basic exemption limit has been increased from rs 2 lakh to rs. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 20 14. The institute of payroll training and management, india 23,925 views 21.

Calculate your tax based on the tax slabs for year 20162017. Here are the latest income tax slabs and rates the economic times. 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. Latest income tax slabs in india fy 201617 or as 201718. Based on the annual income earned by an individual, the following table. Proposed tax slab for financial year 14 assessment year 1415. Every year the income tax rates are changed and it is important to get the latest income tax rates. Income tax slabs income tax rates and deductions for fy 2014. Net income range income tax rates health and education cess up to rs. Many of us have the confusion of understanding what is gross income and what is total income or taxable income. 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. For 20 14 and later income years, tax losses to be carried back and offset against tax paid up to two years earlier.

Income tax rates for financial year 2012 and ay 2014. Latest income tax slabs and rates for fy 2012 and as 2014. Find updated latest income tax slab rates in india for individuals, company, nri, huf, llps. Mar 11, 2018 income tax calculation 201819 ay 201920 in excel. About us subscribe to et prime subscribe to et adfree. Tax rates 20 for the 2012 financial year atotaxrates.

Normal rates of tax applicable to all individualshuf who are less than 60 years of age. Income range tax percentage 1 up to rs 5,00,000 no tax exempt. Call 1800 1200 004 toll freebook your newspaper subscription. The latest income tax slabs based on the union budget presented on 29 february 2016. All deductions and rebates are allowable except certain deductions where the conditions of filing return within due. How your income tax has changed over the last 9 years. Arun jaitley presented the union budget on 29 february 2016. Taxable income in 10% slab maximum tax will be rs 32000. Income tax slabs income tax rates fy 2014 av 201415. Income tax slabs fy 2012 , ay 20 14 in income tax finance minister pranab mukherjee increase the tax exemption limit from rs.

You can file tax return us 94 called late return upto 31032016. Ay 201617, the following rates were also applicable for fy 201415 ay 201516. 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. 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.

The highest amount of tax an individual could pay is 30% of their income plus cess at 4% if their income is more than rs. 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. Latest income tax slabs rates for fy 2012 and as 2014. The constitution of india schedule vii union list entry 82 has given the power to the. For normal category the simple calculation is as follows. 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 is imposed on the basis of ability to pay. In addition an rebate of rs 2000 will be available for income less than rs 5 lakhs. In the case of a resident individual of the age of eighty years or above. For senior citizens age 60 years or more but less than 80 years. 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. New income tax slabs for ay 1415 for resident women below 60 years fy. Under this proposal, a one year loss carryback is to apply from 2012 , where tax losses incurred in that year can be carried back and offset against tax paid in 201112. Income tax rates slab for fy 201718 ay 201819 the finance bill, 2017.