Income tax slab rates for fy 2014-15 pdf

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. Salaried, selfemployed individuals, and companies in maharashtra are levied with professional taxes on their income from several sources. How income tax structure, slabs in budgets over last 4. John mathay, while introducing the finance bill, reduced income tax from 5 annas per rupee to 4 annas.

Highest tax rate including surcharge has come down from 56% in fy 199091 to 30. The budget 2016 did not witness any change in the tax slabs, but the modi sarkar lessened the burden on low income group by increasing the rebate us 87a from rs 2,000 to rs 5,000. Income tax rates 20142015 for filing individual tax returns. Under the new rates, individuals who are earning up to rs.

These rates show the amount of tax payable in every dollar for each income bracket for individual taxpayers. 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. My next question is that how should be calculated the income tax for current year. 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. Surcharge and education cess see note income tax slab rates 201718 pdf download. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. The professional tax slab rates are revised every fiscal year and can be paid online by nonsalaried persons. Normal tax rates applicable to a resident individual of the age of 60 years or above at any time during the year but below the age of 80. Here we present to you all income tax slab rates india for past 25 years. The new itr forms have been released by cbdt for fy 2014 15 income tax returns filing. 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. 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. Tax slabs for financial year 201415 or assessment year 201516. Incometax slab rates for individual for fy 201415 ay 2015.

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 amendment for the assessment year 201415. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. 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. Finance bill 2014 is silent on the section 87a, which was introduced by finance bill 20 with effect from ay 201415 and provides a. Under the budget 2020, the finance minister nirmala sitharaman announced a deduction in income tax rates. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. Click here to see the income tax slab rates for fy 2014 or ay 201415.

Income tax slabs for financial year 201415 mytaxcafe. Income tax rates slab for assessment year 2014 15 previous year 2014 rates %age. Income tax slab for fy 201415 pdf download please login cite. Normal rates of tax applicable to all individualshuf who are less than 60 years of age. Income tax slab rates for last 25 years in india 199293 to. The table shows the tax rates you pay in each band if you have a standard personal allowance of. February, 1860 introducing income tax for the first time in india. The latest tax slab for fy 201415 for individualshuf, aopboitrust, firm llp, company, cooperative societies, local authorities. Tax slabs for financial year 2014 15 or assessment year 201516. Income tax is imposed on the basis of ability to pay.

Income tax ratesslab for assessment year 201718 previous year 201617 income tax rates for financial year 201415 and 20152016 are same, there is. The budget 2016 did not witness any change in the tax slabs, but the modi sarkar lessened the burden on low income group by increasing the rebate us 87a from rs 2,000 to rs 5,000 and the super. 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. Jul 11, 2014 rs,my taxable income for fy 2014 15 was rs 3894. Tax slab for financial year 201516 assessment year 1617. The central board of direct taxes cbdt has notified the income tax returns itr for financial year 201415 assessment year 201516. Government of india income tax slab rates for ay 202014. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 201516 for last fy 2014 15. Jul 14, 2014 new income tax slab rates for financial year 2014 15. 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. 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. 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. Rates of incometax for fy 201415 ay 201516 as per the finance no.

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 for fy 202021 pdf download income tax. Income tax rates for financial year 201617 taxmann. Income tax slabs and tax rates in india for fy 202021. Download income tax calculator for fy 201516 ay 201617 income tax slab for fy 201415 ay 201516 the income tax slab has changed for general public and senior citizens. Maharashtra professional tax slab rate, latest news. 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.

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. The income tax rates and slabs applicable for the financial year 2014 or for assessment year 2014 15 are given below. The professional tax slab rates are revised every fiscal year and. Income tax ratesslab for assessment year 201415 previous year 2014 rates %age. Download income tax calculator for fy 201415 ay 201516. Sri morarji desai, who introduced budget proposals on 2921968 on. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. Income tax slab rates for individualhuf for fy 201415.

Income tax slab from assessment year 20012002 to a. If you need help applying this information to your personal situation, phone us on 28 61. Individual income tax rates australian taxation office. Normal tax rates applicable to a resident individual of the age of 60 years or above at any time during the year but below the age of 80 years net income range income tax rates health and education cess up to rs. My question is that this arrear should not be added in previous year. Tax rates for 20142015 year residents the basic tax scale and marginal rates for the 201415 financial year have been in place for three financial years. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. 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. The following income tax slabs are applicable for the financial year 201819 i.

Calculation of tds on salary for fy 2014 ay 201415. The given income tax calculator contains the income tax rates for last 18 financial year i. The basic exemption limit has been increased from rs 2 lakh to rs. The above income tax rates have been proposed in the union budget for fy 201415 presented by the nda government. For individuals below 60 years age including woman assessees. The budget 2014 has changed the income tax slab rates slightly as compared to the income tax rates of financial year 2014. Income tax slab for financial year 201415 mytaxcafe. The exemption limit for income tax has also increased more than 10 times from rs. 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. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Certain income of nonresident, interalia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the incometax act or as. Income tax at a glance among direct taxes, income tax is the main source of revenue. Rates of income tax for fy 2014 15 ay 201516 as per the finance no.

There are lot of changes in tax rates and cess in the last 25 years. 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. Certain income of nonresident, interalia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the income tax act or as per the rates prescribed under the dtaas, whichever is more beneficial to such nonresident. Highlights of change in direct taxes in the union budget 20 1.

Income tax slab for filing tax return on income in india. 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. The age groups are up to age 60, age 60 to 80 and above age 80. Have a look at the past 25 years income tax slab rates for individuals in india. The age of the individual is the factor to divide the slab rates in the income tax table. Please note that the income of financial year 2014 15 is taxable at the tax rate applicable for assessment year 201516. Get income tax slab rates for ay 201819 here for individuals, senior citizens, hufaopboi, partnership firms, local authority, etc.

Income tax calculator fy 200607 to fy 201415 income tax. Jul 10, 2014 in this post i restrict my subject towards new tax slabs for fy 2014 15. Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. Aug 04, 2014 tds rate chart fy 2014 15 ay 201516 tds due dates 18 0 raj kumari monday, august 4, 2014 edit this post deduction of tax at correct rate is very important for deductor and minor mistake in deduction leads to penalty in shape of interest on late deposit and dis allowance of expenses. Income tax slab rates for financial year 2014 assessment. 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. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. New income tax slab for fy 2014 ay 2014 15 for resident senior citizens 60 years.

In this post i restrict my subject towards new tax slabs for fy 201415. Now my total income is rs 591684 including the arrears. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi. You must check out the difference between the 1992 i. Ay 201516 as proposed by budget 201415 finance bill 201415 income tax slabtax rates for individual, hindu.

Apr 16, 2015 income tax slab rates for year 2014, income tax rates for year 2012, income tax rates for 1011,1112,12,14 15, income tax rates for individual, income tax rates for salaried persons, income tax rates for company. Income tax slab tells the tax rate at which you have to pay tax on income. Download pdf files for form 15g, form 15h, form 60, form 61. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 201516 for last fy 2014. Assessment year 2014 15, relevant to financial year 2014.