Income tax rates slab for assessment year 201415 previous year 2014 income tax rates for year 2014 and 201220 are same, there is no change in tax slab. Latest income tax slabs in india fy 201617 or as 201718 income range. Income tax slabs income tax rates and deductions for fy 2014. 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. Income tax rate applicable to local authority for ay 2021. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or nonindividual. Income tax slab rates for individual for fy 201819 ay 201920. The amount of income tax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty. Assessment year 2014, relevant to financial year 2012. The same has been announced at the time of budget 2016 the tax rates will be applicable for financial year 201617 and assessment year 201718. What is income tax rates in india for financial year 2014. In case income is more than rs 1 crore, a surcharge of 12% is applicable on the income tax amount. What are the slabs and exemptions for assessment year 201415 fy 2014.
The finance minister has introduced many changes in the income tax slab rate for financial year. Income tax slabs and rates for fy 2014 ay 201415, latest amendment for the assessment year 201415 detailed guidance, latest tax computation technics with relevant information about income tax 2014 for those salaried state and central government employees. Last 25 years income tax rates linkedin slideshare. Income tax rates for assessment year 199293 income slab rs. Income tax slabs and rates proposed for financial year 201920 as per interim budget 2019, individual taxpayers having taxable annual income up to rs. Different slab rates are mentioned in it act for different categories of persons and based on this a person is taxable under it act. Please click on the links below to view the income tax also written shortly as i.
The following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 2014. Calculate tax liability for ay 201415 income slabs tax. Income tax slab rates 202021 pdf download ay 202021. Slabs and rates for the current assessment year 2014 applicable on income earned during 01. Normal tax rates applicable to an individual the normal tax rates applicable to a resident individual will depend on the age of the individual. Fy 201011 income tax slabs ay 2012 fy 201112 income tax slabs ay 2014 fy 2012 income tax slabs ay 201415 fy 2014 income tax slabs ay 201516 fy 201415. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. For the assessment year 2021 the local authority will be taxed at 30 percent. 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. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. This is the income tax slabs for financial year 2012 and the analysis year 2014. 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. For assessment year 20182019 financial year 20172018 individual resident aged below 60 years i.
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. Latest income tax slabs and rates for fy 2012 and as 2014. Income tax slabs and rates for financial year 201920. The tax rates discussed in this part are applicable for assessment year 202021 i. Income tax ratesincome tax slab for assessment year 202021 previous year. It rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 2014 latest income tax slabs in.
Incometax slab rates for individual for fy 201516 ay. Income tax rates financial year 2014 incometax slabs. Assessment year ay 2014 the latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. 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 nil. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. Income tax slab for individuals, senior citizens, hufaop, etc. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. Income tax slabs for financial year 2014 goodreturns.
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 products, for the financial year 2014. Click here to save tax with hdfc lifes various online insurance products. Surcharge and education cess see note income tax slab rates 201920 pdf download. Income tax slab from assessment year 20012002 to a. Income tax rates for financial year 2012 and ay 2014. Income tax slab rates 201920 pdf download ay 202021. Income tax rates for fy 2014 assessment year 201415. For individuals below 65 years age, other than woman assessees. Normal rates of tax applicable to all individuals who are less than 60 years of age. Income tax slab for filing tax return on income in india. Income tax rates for assessment year 20142015 previous year 2014. Tax slab for financial year 201516 assessment year 1617. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows.
Income tax deductions and exemption available under various sections and the investment options available to the individuals. As per the finance act, 2015, rates of income tax applicable for the financial year 201516 i. In case of individual other than ii and iii below and huf. Income tax slabs for assessment year 2014 financial. Looking for the income tax slabs and rates for the financial year 2014 or assessment year 201415. Income tax slabs for individuals are divided into 3 slabs. 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 upto 2 50 000 2 10 00 2 00 001 to 5 00 000 2 00 001 to 5 00 000 2 50 001 to 5 00 000 3 20 00 5 00 001 to 10 00 000 5 00. Latest income tax slabs and rates for fy 2012 and as. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or. New income tax slab for ay 12 new income tax slabs for ay 12 for resident senior citizens above 60 years fy 201112. Income tax rate for individuals and house of undivided family huf for the f. For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and gazetted warwounded freedom fighter, income tax.
These rates are subject to enactment of the finance bill 2012. 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 applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Assessment year 201112, relevant to financial year 201011. Rate of tax is 30% for the assessment year 20102011 notes for the assessment year 20112012. Income tax slabs and tax rates in india for fy 202021. Calculate tax liability for ay 201415 income slabs tax ratesi.
Income tax slabs and rates fy 2014 it assesment year. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. Tax rates for financial year 2012 assessment year 2014. The basic exemption limit has been increased from rs 2 lakh to rs. The table shows the tax rates you pay in each band if you have a standard personal.
Latest income tax slabs and rates for fy 2012 and as 2012. Here is the ready reckoner of tax slabs for the financial year 2014 which. Income tax slabs for assessment year 2014 financial year 201220 india income tax slabs for assessment year 2014 financial year 201220 general tax payers. For individual other then individuals being resident of india and above 60 years of age, hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person. Income tax deduction and exemption is available to the individuals under section 80c, 80ccd, 80ccc up to the extent of rs 1,50,000. Brackets in india income tax on salary income tax returns income tax slabs indian wealth tax itr v verification form latest income tax slabs meaning of assessment year pan card pensioners professional tax in delhi professional. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account number. 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. Today we are providing income tax slab rates for assessment year 201617. Free income tax calculator for assessment year ay 20182019 and ay 20172018 with new budget changes. Based on the age group tax rates are specifically defined. Income tax slabs 202021 new income tax slabs, brackets. Find out the income tax slab rate for ay 201718 here.