Income tax slab fy 15-16 pdf

Please click here for latest personal income tax rates income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Nirmala sitharaman unveils optional tax regime in budget, reduces tax for income up to rs 15 lakh without exemptions. These rates show the amount of tax payable in every dollar for each income bracket for individual taxpayers. New income tax rates, revised income tax slab for fy 2021 takeaways. Apr 01, 2017 how to file income tax return online for salaried employees for ay 201718 or itr 1 for ay 201718 fy 201617 new itr forms are available from 1st april 2017 for a. 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 individualhuf for fy 201415. Income tax rates on partnership firm for ay 201516 cakart. Download income tax calculator for fy 201415 ay 201516. Incometax slab rates for individual for fy 201617 ay 2017. Ay 201617, the following rates were also applicable for fy 2014 15 ay 2015 16.

Income tax department has extend the due date for filing income tax return and tax audit report all over india from 30. If you are a salaried professional, you will be required to check the latest income tax slabs. Here is a primer on income tax slab rates for ay 201617. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. Tax slabs for financial year 2014 15 or assessment year 2015 16. Income tax rates slabs for financial year 201516 assessment year 201617 for male individuals below 60 years resident of india income tax rates up. Income tax rates for financial year 2012 and ay 2014. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 201617 ay 201718. In order to provide significant relief to the individual taxpayers and to simplify the income tax law, the union budget proposes to bring a new and simplified personal income tax regime wherein income tax rates will be significantly reduced for the individual taxpayers. Availabilityincome tax rebate section 87a fy 201415 ay 201516.

Now my total income is rs 591684 including the arrears. Check the latest income tax slabs, tax rate for fy 202021. 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. Income tax slabs and tax rates in india for fy 202021. Download income tax calculator for free for previous year 20142015. If you need help applying this information to your personal situation, phone us on 28 61.

Individual income tax rates australian taxation office. It is immaterial that partnership is registered or not registered. Income tax at a glance among direct taxes, income tax is the main source of revenue. Education cess of 3% is also applicable to income tax computed as per above slab. Ay is assessment year latest income tax rates for fy 2015 16. Income tax slab rates for fy 201617 ay 201718 budget. The amount of income tax shall be increased by education cess on income tax at the rate of two percent of the income tax. The finance minister during his budget speech has announced that there will be no change in the structure of the income tax rates for individuals. There is a proposal of 4% heath and education cess in place of earlier 3% education cess on the income tax.

As there was no change in income tax slabs for fy 2015 16 i. Partnership income tax slab income tax rates on partnership firm for a. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 201516 for last fy 201415. The basic exemption limit has been increased from rs 2 lakh to rs. It is deductible from income tax before calculating education cess. Incometax slab rates for individual for fy 201516 ay. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. New income tax slabs and rates have been introduced by fm nirmala sitharaman on the personal tax. Jul 10, 2014 in this post i restrict my subject towards new tax slabs for fy 2014 15. Income tax rates for fy financial year 2014 ay assessment year 2014 15,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. My question is that this arrear should not be added in previous year. Every year the income tax rates are changed and it is important to get the latest income tax rates.

Assessment year personal finance guide to mutual funds, stocks, insurance, investments, loans, tax planning, nonresident indians related issues. Income tax rates 20142015 for filing individual tax returns. This is the income tax slabs for financial year 2012 and the analysis year 2014. Articles explains rates of income tax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt, commodities transaction tax ctt and dividend distribution tax ddt rates for financial year 2015 16 i. Aug 14, 2019 latest income tax slab rates for fy 201617.

Incometax slab rates for individual for fy 201617 ay. Income tax is imposed on the basis of ability to pay. The above income tax rates are for general category men women who are below 60 years of age. Steps to file your indian income tax return quickly with. Due date to file income tax return assessment year 201516. Articles explains rates of income tax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt, commodities transaction tax ctt and dividend distribution tax ddt rates for financial year 201516 i. Fm has announced a new income tax regime following which individuals will have to pay lower taxes for fy 202021 onwards as compared the current tax laws. Checkout the latest income tax slabs and rates in india. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 2015 16 for last fy 2014 15. The amount of rebate is 100 per cent of income tax or rs. Income tax slab rates for individual for fy 201516 ay 201617 steps to file your indian income tax return quickly with. My next question is that how should be calculated the income tax for current year. For income tax purpose citizens above age of 60 are considered as senior citizens and above age of 80 are considered very senior citizens.

Income tax slab rates for individualhuf for fy 201819 ay 201920 income tax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. Income tax slab 201819 for female, senior citizen, salaried employees and more on times of india. Apr 10, 2018 income tax slab rates for individual for fy 2015 16 ay 201617 steps to file your indian income tax return quickly with. Latest income tax slabs and rates for fy 201516 and ay 201617. Income tax slabs income tax rates fy 201112 av 2012. Apr 17, 2015 penalty on late filing of income tax return ay 2015 16 and fy 2014 15 update. Income tax calculator for fy 2015 16 ay 201617 351.

Income tax slab for fy 2015 16 ay 201617 there is no change in income tax slabs except additional 2% increase in cess for super rich i. Under section 87a of the income tax act, taxpayers with income up to. But the tax slabs have not been changed for the last few years. Income tax rates for fy financial year 201112 ay assessment year 2012,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. This form of tax is in practice for a long time and states were continue reading professional tax for the financial. Income tax slabs income tax rates fy 2014 av 201415. So partnership firm is taxes under the income tax slab for partnership firm and partners are taxes under the income tax slab for individuals.

Apr 19, 2020 income tax slab rates income tax slab rates with the introduction of union budget 2020, there has been a substantial change and modification in the tax slabs applicable to the salaried class. Incometax slab rates for individual for fy 201516 ay 2016. Income tax slab rates 202021 pdf download ay 202021. Senior citizen individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year. 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 201718. Union budget 2015 16 and 2014 15 have not altered the rebate available under section 87a for fy 2015 16, 2014 15 or ay 201617, 2015 16 meaning thereby that effectively there will be no income tax payable up to the total income of rs. What is income tax, income tax slab for fy 201718, efiling process as we work to earn our living to fulfill our needs and desires, the government has its own ways of earning money which is, in turn, utilized for creation or betterment of infrastructures for us to avail. Professional tax is a tax levied by the various state governments of india on salaried individuals, working in government or nongovernment entities, or in practice of any profession, including chartered accountants, doctors, lawyers etc or carry out some form of business. Latest income tax slabsrates for fy 201718, ay 201819. Income tax slabs income tax rates and deductions for fy. Income tax slabs rates for fy 201718 and useful income tax deductions income tax slabs for fy1718. New optional basic income tax exemption slabtax rates budget. Union budget 2014 has amended the basic income tax slabs for financial year 2014 15, however there is no change in the income tax rates, surcharge and cess.