Income tax slab rates for 2014 and 201415 by shankar bose inspector of incometax mstu, puri 2. Income tax slabs for assessment year 2014 financial. Income tax slab for 2014 and 201415 linkedin slideshare. 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.
This is the income tax slabs for financial year 2012 and the analysis year 2014. Taxable income in 10% slab maximum tax will be rs 32000. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay 2012. However, in case of a nonresident individual the tax rates will be same irrespective of his age. The normal tax rates applicable to a resident individual will depend on the age of the individual. Apr 18, 20 income tax slab rates for 2014 and 201415 by shankar bose inspector of income tax mstu, puri slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The amount of incometax shall be increased by education cess on. Income tax rates income tax slabs for assessment year 2012. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. 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. As per the union budget present by finance minister p chidambaram on 28th feb 20 there is no change in income rates and slabs in income tax slab continue.
Income tax income tax rates ay 2012 fy 2011 referencer. India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. Income tax slabs income tax rates fy 201112 av 2012. Latest income tax slabs and rates for fy 2012 and as 2014. The rebate under this section is available to the resident individuals w. Chennai virtual offices as there per is the no interim change union in income budget rates present and by slabs finance as compared minister to p chidambaram previous year. Income tax slabs income tax rates fy 2014 av 201415. Income tax slab rates for financial year 2014 assessment. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014. The income tax slab for fy 201415 ay 201516 are no different from income tax slab for fy 14. 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. Given below are the various tables for the latest income tax slabs for the fy 20202021. Apr 09, 2018 the central board of direct taxes cbdt has notified the income tax returns itr for financial year 201415 assessment year 201516. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no.
Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Hdfc life provides the latest income tax rates in india for different age groups and tax benefits offered by various life insurance policies, for the current financial year 201617 save tax with hdfc lifes various online insurance products. 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 5% of such income tax, provided that the total income exceeds rs. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. New professional tax slab in west bengal, 2014 january 8, 2019 scheduled rates of professions tax to be recovered by ddo from the salary and wages earners as per the west bengal state tax on professions, trades, callings and employment act, 1979. For normal category the simple calculation is as follows. Rs 12,500 or 100% of income tax whichever is lower for individuals with income below rs 5 lakhs. 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. 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. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Hdfc life provides the latest income tax rates in india for different age groups and tax benefits offered by various life insurance policies, for the current financial year 201617. Apr 17, 2018 latest income tax slab rates fy 201819. Your income from salary, business or other income like income from fixedrecurring deposits etc are taxed as per income tax slabs.
These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. New income tax slabs for ay 2014 for resident senior citizens above 60 years fy 2012 s. The amount of incometax shall be increased by education cess on income tax at the rate of two percent of the incometax. New professional tax slab in west bengal, 2014 wbxpress. Tax rates for all except senior citizens and women up to rs 150,000. Income tax amendment for the assessment year 201415. Condonation of delay under section 1192b of the income tax act, 1961 in filing of return of income for a. Income tax slabs and rates for fy 202021 bankbazaar. Income tax ratesslabs for financial year 201112 assessment. Latest income tax slabs and rates for fy 2012 and as 2012. Save tax with hdfc lifes various online insurance products.
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 2. Applicable to individual male below the age of 60 years and huf. Rebate us 87a of the income tax act 1961 sensys blog. Secondary and higher education cess 1% of income tax. 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.
Additional surcharge on income tax secondary and higher education cess on incometax. Based on the annual income earned by an individual, the following table. Aug 11, 2011 income tax rates slabs ay 201011 individual huf boi aop the rates for assessment year 201011 is given in the table below. Income tax slabs for assessment year 2014 financial year. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Finance act 20, has introduced new section, namely section 87a. The announcement that individuals with income up to rs 5 lakh would get full rebate is through section 87a. This newly inserted section gives rebate up to maximum of rs. For senior citizens age 60 years or more but less than 80 years. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Income tax rates for financial year 2012 and ay 2014.
Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Secondary and higher education cess 1% of incometax. 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 2014. Income tax ratesslab for assessment year 201718 previous year 201617 income tax rates for financial year 201415 and 20152016 are same, there is. Income tax slabs income tax rates and deductions for fy 20. Income tax slab for fy 201415 income tax taxes free. Latest income tax slabs and rates for fy 2012 and as. The national board of revenue nbr is the apex authority for tax administration in bangladesh. The central board of direct taxes cbdt has notified the income tax returns itr for financial year 201415 assessment year 201516. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. For the purpose of section 179 and 167c of income tax act, 1961, tax due includes penalty, interest or any other sum payable under the act.
The new itr forms have been released by cbdt for fy 201415 income tax returns filing. Income tax slab for fy 201415 income tax taxes free 30. Income tax slab for filing tax return on income in india. The basic exemption limit has been increased from rs 2 lakh to rs. Income tax slab for fy 2014 the income tax slab for fy 2014 ay 201415 are no different from income tax slab for fy 12. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Income tax ratesslabs for financial year 2011 12 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Income tax rates for fy financial year 2014 ay assessment year 201415, for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Nov 18, 2011 income tax rates after budget 2012 is available here income tax rate chart slabs for assessment year 2011 12 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. Tax slab applicable for assessment year 200910 or financial.
Net income range income tax rates health and education cess up to rs. Income tax rates slabs for the financial year 20112012 a. Income range tax percentage 1 up to rs 2,50,000 no tax exempt 2 2,50,001 to 5,00,000 10% 3 5,00,001 to 10,00,000 20% 4 above 10,00,000 30% new income tax slabs for ay 2014 for resident senior citizens above 80 years fy 2012 s. 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. Full budget 2019 presented on july5, 2019 has made no changes in the tax slab. Super senior citizen individual resident who is of the age of 80 years or more at any time during the. Jan 08, 2019 new professional tax slab in west bengal, 2014 january 8, 2019 scheduled rates of professions tax to be recovered by ddo from the salary and wages earners as per the west bengal state tax on professions, trades, callings and employment act, 1979, commonly known as profession tax act. The new and revised income tax slabs and rates applicable for the financial year fy 2011 12 and assessment year ay 2012 are mentioned below. Simple income tax calculator fy 201516 xls download archive. Income tax slab rates for 2014 and 201415income tax slabrateincome tax slabrate for assessment year 2014 and income tax rates for f. Jul 01, 2009 tax rates for all except senior citizens and women up to rs 150,000. There will be no surcharge on income tax payments by individual taxpayers during fy 2011 12 ay 2012. Submission of a tax residency certificate is a necessary but not a sufficient condition for claiming benefits under the agreements referred to in sections 90 and 90a.