Income tax slab rates for last 25 years in india 199293 to. 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. Income tax slab rates 201819 pdf download ay 201920. Ay 201516 as proposed by budget 201415 finance bill 201415.
Income tax slab rates for fy 2015 16 ay 201617 are as under. Benefits available to salaried employees in ay 201516. Income tax slabs and rates for fy 202021 bankbazaar. Rate for lowest income tax slab slashed to 5% from 10%, surcharge of 10% on income above rs 50 lakh an individuals tax is calculated according to the income tax slabs. Income tax slabs for the senior citizen 60 to 80 years age for the assessment year 20142015 sl no.
Personal income tax rates for the financial year 20082009 and assessment year 20092010 new delhi delhi, india, november 17, 2015 indian government ups basic personal income tax. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account. Jul 14, 2014 new income tax slab rates for financial year 201415. Income tax rates financial year 2015 2016 upto rs 2,50,000 nil rs 2,50,001 to 5 lac 10% rs. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and gazetted warwounded freedom fighter, income tax is payable for the on first upto tk. 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. Income tax rates for assessment year 199293 income slab rs.
This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Now my total income is rs 591684 including the arrears. Incometax slab rates for individual for fy 201516 ay. Rates of incometax for fy 201415 ay 201516 as per the finance no. Normal rates of tax applicable to all individuals who are less than 60 years of age. Union budget 2014 has come with few changes to cheer up for common man. There are lot of changes in tax rates and cess in the last 25 years. We give below the income tax rates and slabs applicable for the fy 2015 16 or ay 201617. Income tax slabs 202021 new income tax slabs, brackets. For assessment year 20152016, additional surcharge called the education cess on incometax and secondary and higher education cess on incometax shall continue to be levied at the rate of two per cent. Income tax slab rates for financial year 201516 have not been changed much in budget 2015. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. My next question is that how should be calculated the income tax for current year. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total.
March 1 to 15, 2016 u taxmanns corporate professionals today u vol. New income tax slab for financial year 201516 mytaxcafe. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account number. Please understand these tax slabs to come up with your income tax liability. However, the total amount payable as incometax and surcharge on total income exceeding one crore rupees but not exceeding ten crore rupees, shall not exceed the total amount payable as incometax on a total income of one crore rupees, by more than the amount of income that exceeds one crore rupees. Every year the income tax rates are changed and it is important to get the latest income tax rates. Income tax slab rates for individualhuf for fy 201415. General rate slab rate for individual resident aged below 60 yearsnri huf aop boi income slabs tax rates where the. Here is quick guide of tax bracket for individuals depending on the income.
The amount of rebate is 100 per cent of income tax or rs. Latest income tax slabs and rates for fy 201516 and ay 201617. Companies the rates of incometax in the case of companies will continue to be 30% as specified for the assessment year 201516. Income tax slab rates for last 25 years in india 199293. Income tax slabs for financial year 2015 16 or assessment year 201617. Income tax slabs income tax rates and deductions for fy. Arun jaitley in his maiden budget speech on 10july2014 announced changes in the income tax slab for the. Income tax slabs income tax rates fy 201415 av 201516. Ay 201617, the following rates were also applicable for fy 201415 ay 2015 16. Income tax slabs income tax rates fy 201516 av 201617. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Aug 14, 2019 indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Income tax slab rates ay 201920, fy 201819, income tax. The finance minister has proposed to tax the super rich by increasing surcharge from 10% to 12% if the income earned is more than rs.
As there was no change in income tax slabs for fy 2015 16 i. Income tax slab rates for fy 201516 ay 201617 are as under. My question is that this arrear should not be added in previous year. Financial year 201516 assessment year 201617 every year the income tax rates are changed and.
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. Income tax slab rates for financial year 2015 16 have not been changed much in budget 2015. The amount of rebate is 100 per cent of incometax or rs. Given below are the various tables for the latest income tax slabs for the fy 20202021. Income tax slabs for financial year 201516 or assessment. Additional deduction for investing up to rs 20,000 in infra bonds under sec 80ccf. Jul 11, 2014 rs,my taxable income for fy 201415 was rs 3894. Income tax slabs for financial year 201516 or assessment year 201617. Ay 2015 16 as proposed by budget 201415 finance bill 201415 income tax slab tax rates for individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. 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. Below are the income tax slab rates for fy 201617 or ay 2017 18. General rate slab rate for individual resident aged below 60 yearsnri huf aop boi income slabs tax rates where the taxable income does not exceed rs. Income tax slab rates for financial year 201516 assessment. Jul 14, 2016 personal income tax rates for the financial year 20082009 and assessment year 20092010 new delhi delhi, india, november 17, 2015 indian government ups basic personal income tax exemption limit from rs.
Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 2015 16. Income tax rates on partnership firm for ay 2015 16. Arun jaitley in his maiden budget speech on 10july2014 announced changes in the income tax slab for the assessment year 2015 2016 financial year 2014 2015. The following income tax rates are applicable for the financial year ending march 31, 2016 i. The finance minister has proposed to tax the super rich by increasing surcharge from 10% to 12% if the. The latest free income tax calculator to calculate your latest tax and to compare your tax savings. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 201516 for last fy 2014. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax.
Last 25 years income tax rates linkedin slideshare. Income tax slab tells the tax rate at which you have to pay tax on income. Surcharge and education cess see note income tax slab rates 201718 pdf download. Normal rates of tax applicable to all individualshuf who are less than 60 years of age. Income tax slab for financial year 201415 mytaxcafe. Income tax rates for fy financial year 201415 ay assessment year 2015 16 final,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets.
Have a look at the past 25 years income tax slab rates for individuals in india. Download it slabs from fy 200809 to fy 201516 file in pdf. Although there is no change in the rate of tax, surcharge or cess but the maximum amount which is not chargeable to tax is increased by rs. Benefits available to salaried employees in ay 2015 16. Income tax slab for financial year 201415 posted on. Although there is no change in the existing tax rate yet new government had increased the minimum limit from rs. Hope, now you all know the income tax rates on partnership firm. Jul 14, 2014 income tax slab for the assessment year 2015 2016. Nonresident individualhuf net income range income tax rates health and education cess up to rs. Income tax rates financial year 20152016 upto rs 2,50,000 nil rs 2,50,001 to 5 lac 10% rs. Jan 29, 2018 how your income tax has changed over the last 9 years in budget 2010, income tax slabs were changed. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income between 50 lakhs and one crore rupees above 1 crore 15% surcharge. It is deductible from income tax before calculating education cess. Latest income tax slabs and rates for fy 201516 and ay.
The amount of income tax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. Indian income tax slabs, rates, calculators, itr, challan, tds, pan and other forms in excel fillable pdf, information of i t actrules. Rates of income tax for fy 201415 ay 2015 16 as per the finance no. Income tax rates on partnership firm for ay 201516 cakart. A individuals born on or after 1st april, 1956 age less than 60 years. The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here free income tax calculator for calculating tax for 201819. Income tax slab rates 201718 pdf download ay 201819. Income tax rates for fy financial year 201415 ay assessment year 201516 final,for individuals,men, women, senior citizens, hufs and other categories surcharge and. Calculate taxable income, income tax, cess, surcharge and. Income tax rates for fy financial year 201516 ay assessment year 201617,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. 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.
There were no changes in the tax slab from last 2 years in tax slabs. Income tax slab rates for financial year 201516 assessment year201617. The previous income tax slab for year 20142015 can be found here income tax slabs 201415. 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. Who is 80 years or more at any time during the previous year. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 2015 16 for last fy 201415. Income tax rates for fy financial year 2015 16 ay assessment year 201617,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Income tax slab rates for assesment year 201718, financial year 201617 as per the union budget presented before parliament on 29th february 2016.
We will cover other aspects like filing of income tax return of partnership firm, assessment of partnership firms and book profit. It is deductible from incometax before calculating education cess. 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. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt, commodities transaction tax. Income tax slab rates change every year after the announcement of budget.