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. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. The income tax slab can be mainly bifurcated as under. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. Apr 17, 2018 latest income tax slab rates fy 201819. This year as well, the indian finance minister nirmala sitharaman announced.
Income tax slab rates for financial year 2014 assessment year201415 resident super senior citizen who is 80 years or more at any time during the previous year net income range income tax. Income tax slabs for assessment year 2014 financial. Income tax rates income tax slabs for ay 2012 individuals and hufs. The last date of filing income tax return ay 20152016 has been. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. The income tax slabs can be categorised into four slabs, income is chargeable to nil rate of tax. Taxable income in 10% slab maximum tax will be rs 32000. The only benefit this financial year is there is a tax credit of rs 2000 for people having an annual income up to. Income tax slabs and rates for the ay 201920 fy 201819. In case of individual other than ii, iii and iv below and huf. The starting rate and the starting rate limit for savings is shown in the table below. The income tax rates for individuals, hufs, aop, boi and cooperatives are progressive in nature, where a lower.
Latest income tax slabs and rates for fy 2012 and as 2012. The income tax rates are usually revised every year during the budget. Various deductions that are allowed to a taxpayer under section 80c, section 80d etc. Read our guide to know the old income tax slabs, rates, brackets or percentage for last 10 fys of individuals in india. India income tax slabs for assessment year 201112 financial year 20102011 general tax payers income tax slab in rs. Jul 30, 2012 income tax return form for assessment year 2012 has been released by income tax department. Surcharge ec and secondary and higher secondary education cess shec are also charged over and above the tax. Income tax slabs for assessment year 2014 financial year. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201819 in the parliament. Net income range income tax rates surcharge education cess upto rs. Net income range income tax rates health and education cess up to rs.
For normal category the simple calculation is as follows. Ay 202021 fy 201920 vote on account income tax october 18, 2018 guide to standard deduction deductions september 22, 2018 number of days work to buy an iphonex others. Income tax slab rates for financial year 2014 assessment. The basic exemption limit has been increased from rs 2 lakh to rs. On income of private discretionary trust where shares of beneficiary are not known. The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget.
Now itr5 and itr6 has also been released in paper form. Income tax income tax rates ay 2012 fy 2011 referencer. No changes have been proposed in either individual tax rates or slabs for the ay 201920. Latest income tax slabs and rates for fy 2012 and as. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Basic income tax exemption slab for ay 202122 as per budget.
New optional basic income tax exemption slabtax rates. In the budget 20 announcement the tax slabs has been. Income range tax percentage 1 up to rs 2,50,000 no tax exempt 2 2,50,001 to 5,00,000 10% 3. Following are the income tax slab rates and deductions for different categories of tax payers. Income tax slabs and rates for fy 202021 bankbazaar. Basic income tax exemption slab and tax rates for ay 202122 under section 115bac, the income tax payable in respect of the total income of person, being an individual or a hindu undivided family, for any previous year relevant to the assessment year beginning on or after the 1st day of april, 2021, shall, at the option of such person, be. 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. Tax rates for financial year 201112 assessment year 12 is. Fy 201415 income tax returns filing new itr forms for ay 201516. Income tax rates slabs for the financial year 20112012 a.
Below are the latest income tax slab rates for fy 201819 or ay 2019 20. India income tax slabs for assessment year 2011 12 financial year 20102011 general tax payers income tax slab in rs. Ay 202122 fy 202021 income tax january 12, 2020 understanding bsda basic services demat account demat january 11, 2020 senior citizen. 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. 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. The income tax rates for individuals, hufs, aop, boi and cooperatives are progressive in nature, where a lower tax rate is imposed on low income earners compared to those with higher income, making it based on the taxpayers ability to pay.
Income tax slabs income tax rates fy 201112 av 2012. 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. 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 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. Add surcharge surcharge is 10% of incometax rebate us 88e is not available w. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. For senior citizens age 60 years or more but less than 80 years. 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 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. However, tax rate is 25% if turnover or gross receipt of the company does not exceed rs. Latest income tax slabs and rates for fy 201617 and ay. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows.
New income tax slabs for ay 2014 for resident senior citizens above 60 years fy 2012 s. Tax rates applied on charitable and religious trusts a. This is the income tax slabs for financial year 2012 and the analysis year 2014. The income tax rates and slabs applicable for the financial year 2014 are same as it was during financial year 2012 , except the two major changes which was given below. Income tax return form for assessment year 2012 has been released by income tax department. Apr 05, 2014 every year the income tax rates are changed by the government and every year government charged tax on the new tax slab or on the latest tax slabs.
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. Income tax rate chart slabs for assessment year 201112 and earlier years. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Given below are the various tables for the latest income tax slabs for the fy 20202021.
Income tax rates income tax slabs for assessment year. Personal incometax exemption limit raised by rs 50,000 that is, from rs. 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. Income tax rates for financial year 2012 and ay 2014. Latest income tax slabs and rates for fy 2012 and as 2014. Income tax slabs for partnership firms there is a flat tax rate for partnership firms and llps limited liability partnerships and they are to pay income tax at the rate of 30%. Tax rates as applicable for different persons for the a. The income tax rates in india are different for different categories and status of tax payers. These rates are applicable on individual assessee, hindu undivided. For most of the assessee itr5 is required to be filed through efiling. 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. Based on the annual income earned by an individual, the following table shows different income tax rates applicable in india. There is no other benefit as compared to previous financial year. Itr1 sahaj,itr2,itr3, itr4 and itr4s sugam has been released.
Basic income tax exemption slab and tax rates for ay 202122 under section 115bac, the incometax payable in respect of the total income of person, being an individual or a hindu undivided family, for. 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. Where taxable nonsavings income does not fully occupy the starting rate limit. The only benefit this financial year is there is a tax credit of rs 2000 for people having an annual income up to rs 5 lakh. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. Net income range rate of incometax assessment year 202122 assessment year 202021 up to rs. Nov 21, 2010 tax rates as applicable for different persons for the a. Apr 14, 2020 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. 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. For resident woman who is below 65 years of age at any time during the previous year. Tds rate chart fy 2020 2021 ay 20212022 income tax exemptions under various sections. 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. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Apr 22, 20 the slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 11 12 ay 2012.
139 748 1457 1160 521 1004 914 879 699 1241 1497 1327 1058 690 1161 95 804 1199 756 446 226 258 650 352 318 479 215 1070 538 1171 986 332 38 1399 1462 267 469 127 1379 151 686 281 267 269