In union budget 202021, the news tax slab rate regime is optional and a taxpayer can choose to pay tax in the old. Income tax slab rates for financial year 2014 assessment. Apr 14, 2020 lets get the insights of the income tax slabs for fy 201819 ay 201920 income tax slab for resident individual aged less than 60 years059 years same slab rates shall apply for both male and female resident taxpayers. The age of the individual is the factor to divide the slab rates in the income tax table. 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. Income tax rates tax slab for ay 20142015 fy 202014. Rate of income tax for individual a slab rate assessment year 201415. Steps to file your indian income tax return quickly with.
This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Assessment year 2014 15, relevant to financial year 2014. Rates of income tax for fy 2014 15 ay 201516 as per the finance no. Income tax slab rates 201819 pdf download ay 201920. Please note that the income of financial year 2014 15 is taxable at the tax rate applicable for assessment year 201516. 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. Net income range rate of income tax assessment year 202122 assessment year 202021 up to rs. Axis bank rtgs neft application form new format pdf free. General rate slab rate for individual resident aged below 60 yearsnri huf aop boi. There are lot of changes in tax rates and cess in the last 25 years.
The budget 2014 has changed the income tax slab rates slightly as compared to the income tax rates of financial year 2014. Up to 2,00,000 up to 2,00,000 for women up to 2,50,000 for resident individual of 60 years till 80 years. The latest tax slab for fy 201415 for individualshuf, aopboitrust, firm llp, company, cooperative societies, local authorities. Government of india income tax slab rates for ay 20142015. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Incometax slab rates for individual for fy 201516 ay 2016. New income tax slab for fy 2014 ay 2014 15 for resident senior citizens 60 years.
Income tax slabs for senior citizensabove 60 years but below 80 years. 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. Apr 25, 2020 income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Find out the income tax slab rate for ay 201718 here. Given below are the various tables for the latest income tax slabs for the fy 20202021. The new itr forms have been released by cbdt for fy 2014 15 income tax returns filing. Tax rebate us 87a claim upto rs 2000 tax rebate, if the taxable income doesnot exceed rs 5 lakh. 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. Comparison between existing and new slab rates of income tax calculator excel format fy 202021 ay 202122 income tax automatic calculator for salaried employees for fy 201920 in excel format. Income tax slab for individuals, senior citizens, hufaop, etc. 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.
Incometax slab rates for individual for fy 201415 ay. Income tax income tax rates ay 201415 fy 20 referencer. Income tax bands are different if you live in scotland. The basic exemption limit has been increased from rs 2 lakh to rs. Income tax slabs and tax rates in india for fy 202021. Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. The income tax rates and slabs applicable for the financial year 2014 or for assessment year 2014 15 are given below. Income tax ratesslab for assessment year 201718 previous year 201617 income tax rates for financial year 201415 and 20152016 are same, there is. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. Income tax is imposed on the basis of ability to pay. Income tax rates slab for fy 2014 or ay 201415 ebizfiling. Income tax slab rate for assessment year 2014 15 i.
Income tax slab rates for individualhuf for fy 201415. Income tax rates slab for assessment year 2014 15 previous year 2014 rates %age. Highest tax rate including surcharge has come down from 56% in fy 199091 to 30. Download income tax calculator for fy 201415 ay 201516. Rate of income tax for individual a slab rate assessment year 2014 15. The age groups are up to age 60, age 60 to 80 and above age 80. Income tax slab for fy 202021 pdf download income tax. Find out about the tax rates for individual taxpayers who are.
However, tax rate is 25% if turnover or gross receipt of the company does not exceed rs. 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. 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. Treatment of cash sales as unexplained cash credit section 68. Income tax at a glance among direct taxes, income tax is the main source of revenue. Income tax slabs and rates for fy 202021 bankbazaar. Last 25 years income tax rates linkedin slideshare.
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 individualhuf for fy 2014 15. Income tax slab rates for last 25 years in india 199293. These rates apply to individuals who are australian residents for tax purposes. Income tax slab for financial year 201415 mytaxcafe. Income tax slab for filing tax return on income in india. Income tax slab rates 202021 pdf download ay 202021. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows.
Income tax calculator for fy 2014 15 ay 201516 351. Oct 14, 2019 the new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2012 to march 31, 20. Income tax amendment for the assessment year 201415. For resident senior citizens 60 years income range.
For individuals below 60 years age including woman assessees. Who is 80 years or more at any time during the previous year. Income tax rates for assessment year 199293 income slab rs. Detailed article on the income tax slabs rates for fy 201415 and ay 201516. The new income tax rates or income tax slabs are effective from april 01, 20. Jul 14, 2014 new income tax slab rates for financial year 2014 15. Surcharge and education cess see note income tax slab rates 201819 pdf download. 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. The above rates do not include the medicare levy of 2%. These income tax rates show the amount of tax payable in every dollar for each income tax bracket depending on your circumstances. Tax slab for financial year 201516 assessment year 1617.
Past 25 years income tax rates for individuals, huf, aops, bois ay 199293 to ay 201415. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. Income tax slab from assessment year 20012002 to a. Income tax slab tells the tax rate at which you have to pay tax on income. Income tax slabs for individuals are divided into 3 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 2.
Jul 11, 2014 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. Health and education cess is levied at the rate of 4% on the amount of income tax plus surcharge. The income tax slabs rates in india are different for different categories and status of tax payers. Calculation of tds on salary for fy 2014 ay 201415. The exemption limit for income tax has also increased more than 10 times from rs. Income tax slab rates for last 25 years in india 199293 to. Individual income tax rates australian taxation office. 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. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Income tax slab rates for financial year 2014 assessment year201415 resident super senior citizen.
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. We provide you the latest income tax rates in india for everyone and tax benefits for the current financial year 201617. Income tax rates slab for assessment year 201415 previous year 2014 rates %age. 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. Government of india income tax slab rates for ay 202014.