How to make best use of section 80c or saving tax by investing under section 80c. Income tax slab rates 201718 pdf download ay 201819. Income tax calculator for fy 201415 download the income tax calculator for fy 201415 or ay 201516. Income tax slab rates for financial year 2014 assessment.
Income tax rates for companies other than domestic companies for the financial year 2014 a. What is income tax rates in india for financial year 2014. With the union budget 2020 approaching, a report has been prepared by the central direct tax committee. Income tax slab for filing tax return on income in india. Income tax slab rates specify the threshold annual income limits at which a higher or lower rate of tax is applicable. Latest income tax slabs and rates for fy 201516 and ay 201617.
Income tax slab rates for individualhuf for fy 201415. Income tax slabs are reintroduced in union budget 201415 and no big change in the tax slabs for the financial year 201415 and assessment year 201516. Income tax rates financial year 2014 incometax slabs and. Income tax calculator utility is helpful for bankers especially which included all the forms in. 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. Normal rates of tax applicable to all individualshuf who are less than 60 years of age. Mar 31, 2017 income tax slab rates 201718 pdf download. How your income tax has changed over the last 9 years. Apr 18, 20 income tax slab rates for 2014 and 2014 15 by shankar bose inspector of income tax mstu, puri slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Now, there is new surcharge slabs are inserted in the case of foreign company and domestic company. In this post i restrict my subject towards new tax slabs for fy 201415. Latest income tax slabs and rates for fy 201516 and ay. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax.
Income tax slabs and rates for fy 202021 last updated. Income tax slabsrates for fy 201718 and useful income tax deductions income tax slabs for fy1718. Although jaitley left the tax slabs unchanged last year, here is how the tax. Detailed article on the income tax slabs rates for fy 201415 and ay 201516.
Individuals other than those specified in ii, iii, iv below. Income tax slabs and tax rates in india for fy 202021. Tax slabs for financial year 2014 15 or assessment year 201516. Income tax rate for individuals and house of undivided family huf for the f. 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. Ay 201516 as proposed by budget 201415 finance bill 201415. 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. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. Latest income tax slabs and rates for fy 2012 and as 2012. Tax brackets are the divisions at which tax rates change in a progressive tax system essentially. This document contains proposed regulations that will remove. Latest income tax slabs and rates for fy 2012 and as. We provide you the latest income tax rates in india for everyone and tax benefits for the current financial year 201415, to know more about income tax slab.
Please note that the income of financial year 2014 15 is taxable at the tax rate applicable for assessment year 201516. Highlights of this issue these synopses are intended only as aids to the reader in identifying the subject matter covered. What are the slabs and exemptions for assessment year 201415 fy 2014. However, the surcharge shall be subject to marginal relief where income. The central board of direct taxes cbdt has notified the income tax returns itr for financial year 201415 assessment year 201516. Save tax with hdfc lifes various online insurance products. Jul 14, 2014 new income tax slab rates for financial year 2014 15. Changes in income tax slabs for individuals over last five assessment years. Tax rebate us 87a claim upto rs 2000 tax rebate, if the taxable income doesnot exceed rs 5 lakh. The budget 2014 has changed the income tax slab rates slightly as compared to the income tax rates of financial year 2014. Income tax slabs income tax rates and deductions for fy. As per the report, changes have been suggested in the current direct tax system. Rate of income tax for individual a slab rate assessment year 201415. Income tax slabs income tax rates and deductions for fy 2017.
Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Additional deduction for investing up to rs 20,000 in infra bonds under sec 80ccf. Rates of incometax for fy 201415 ay 201516 as per the finance no. A tax rebate of rs 2,000 from tax calculated will be available for people having an annual income upto rs 5 lakh. Income tax slabs are reintroduced in union budget 2014 15 and no big change in the tax slabs for the financial year 2014 15 and assessment year 201516. Income tax calculator utility is helpful for bankers especially which included all the forms in one i. Income tax slabs for fy 20142015 here are the slabs for the income tax for the income incurring in financial year 20142015. Income tax rates tax slab for ay 20142015 fy 202014. Income tax slab rates for 2014 and 201415 by shankar bose inspector of incometax mstu, puri. 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 201415.
Income tax rates in india for the financial year 2014 assessment year 2014 15. The basic exemption limit has been increased from rs 2 lakh to rs. 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. May 22, 2014 there are three types in individual category. Income tax slabs for financial year 201718 assessment year 1718. The new itr forms have been released by cbdt for fy 201415 income tax returns filing. Below 60 years 60 years and above but below 80 years 80 years and above income tax slab for individuals who are below than 60 years of age taxable income tax rates income up to 2 lakh nil income from 2 lakh to 5 lakh 10% on income. Fm has announced a new income tax regime following. Income tax slab rate for ay 201819 for individuals.
Income tax rates slab for fy 201415 or ay 201516 ebizfiling. Income tax slabs for fy 2014 2015 here are the slabs for the income tax for the income incurring in financial year 2014 2015. Surcharge on income tax if the total taxable income exceeds rs 1 crore, there will be sucharge of 10% of tax payable not 10% of income 4. Click here to save tax with hdfc lifes various online insurance products. How income tax slabs have changed since independence weve. Income tax slab tells the tax rate at which you have to pay tax on income. 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. Income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for individual. Last 25 years income tax rates linkedin slideshare.
Calculate tax liability for ay 201415 income slabs tax ratesi. 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. Income tax slabs for the financial year 201415 and assessment year 201516. The new itr forms have been released by cbdt for fy 2014 15 income tax returns filing. For financial year 2014, 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. Major changes in income tax returns fy 20 14 or ay 201415 by ankur srivastava. This income tax calculator is created through excel utility with latest income tax slabs. Income tax amendment for the assessment year 201415. Income tax slab rate for assessment year 2014 15 i. With the passage of finance bill, 2015, wealthtax was. Income tax amendments applicable for the assessment year.
According to the committee, the current personal income tax slabs need to be overhauled. Permanent account number pan every assessee is required to obtain 10 alpha numeric permanent account number pan and quote the same in. Income tax slabs income tax rates fy 2014 av 201415. Latest income tax slabsrates for fy 201718, ay 201819. Please click on the links below to view the income tax also written shortly as i. Jul 10, 2014 in this post i restrict my subject towards new tax slabs for fy 2014 15. Income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 2014 15 for individual, huf, aop, boi, partnership firms, llp and companies. Income tax slabs for financial year 201415 and assessment. Income tax slabs,rates,forms for assessment year 201415, or financial year fy 2014, applicable on income earned during 01. Sunday, february 2nd, 2014 amritesh no responses 71 views. How your income tax has changed over the last 9 years in budget 2010, income tax slabs were changed. Rate of taxable income1 tax taxable income1 tax taxable income1 tax.
Income tax rates financial year 2014 incometax slabs. 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. Apr 09, 2018 the central board of direct taxes cbdt has notified the income tax returns itr for financial year 2014 15 assessment year 201516. Personal income tax slab changes recommended by the direct tax committee. Income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for individual, huf, aop, boi, partnership firms, llp and companies.
Tax slabs for financial year 201415 or assessment year 201516. 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. Apr 20, 2014 income tax slabs,rates,forms for assessment year 2014 15, or financial year fy 2014, applicable on income earned during 01. Jan 29, 2018 how your income tax has changed over the last 9 years in budget 2010, income tax slabs were changed. Income tax slabs applicable for financial year 201516 assessment year 201617is summarized below. Amendments to the act, relating to filing of return of income, applicable with effect. 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. Income tax slabs income tax rates fy 201516 av 201617. The amount of incometax shall be further increased by education cess of 3% on incometax. 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. Deductions under sections 80 ce are available for individuals which would be discussed in the upcoming blogs on tax planning. Click these links to see the 2015 tax brackets, and 2016 tax brackets. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget.
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. They may not be relied upon as authoritative interpretations. Income tax slab for financial year 2014 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. Apr 19, 2019 income tax slab for financial year 2014 ay 2014 15 finance minister p chidambaram presented the union budget on 28th february, 20. 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. 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. Incometax slab rates for individual for fy 201415 ay. Get income tax slab rates for ay 201819 here for individuals, senior citizens, hufaopboi, partnership firms, local authority, etc. Tax rebate of rs 2,000 for incomes up to rs 5 lakh. Union budget 2014 has come with few changes to cheer up for common man. Income tax amendments applicable for the assessment year 201415 and efiling of returns of income. Income tax slab for financial year 201415 posted on. 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 tax slabtax rates for individual, hindu undivided family, association of persons, body of individuals, artificial juridical person.
It is the policy of the service to publish in the bulletin all substantive rulings necessary to promote a uniform application of the tax laws, including all rulings that supersede, revoke. Changes in income tax slabs for individuals over last five. Rates of income tax for fy 2014 15 ay 201516 as per the finance no. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. Income tax slabs and rates for fy 202021 bankbazaar. Income tax slab for financial year 2014 15 posted on. Income tax ratesslab for assessment year 201718 previous year 201617 income tax rates for financial year 201415 and 20152016 are same, there is. Ay 201516 as proposed by budget 2014 15 finance bill 2014 15 income tax slab tax rates for individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. A few new tax slabs have been introduced in union budget 2020 these are applicable only if you do not claim any tax deductions. Income tax structure 2014 assessment year 201415 budget highlights. Download free major itr forms for financial year 201415 itr1, itr2, itr2a, itr4s pdf files, fillable files and instructions.