The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. To learn more about the income tax slabs ay 1819, click here. Click here to save tax with hdfc lifes various online insurance products. The budget 2014 has changed the income tax slab rates slightly as. Income tax slab rates for ay 20142015 and financial year 2014 income tax slabs and rates are changed almost every year. Income range tax percentage 1 up to rs 2,50,000 no tax exempt 2 2,50,001 to 5,00,000 10% 3 5,00,001 to 10,00,000 20% 4 above 10,00,000 30% new income tax slabs for ay 2014 for resident senior citizens above 80 years fy 2012.
Ay 201617, the following rates were also applicable for fy 201415 ay 201516. Income tax slabs income tax rates and deductions for fy 2014. Income tax rates for fy financial year 20 14 ay assessment year 201415, for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Indian income tax slab rates updates this page is updated yearly with the indian income tax slab rates. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Rates of incometax fy 2014 ay 201415 as per finance act, 20 as per the finance act, 20, incometax is required to be deducted under section 192 of the act from income chargeable under the head salaries for the financial year 2014 i. Tax slab for financial year 201415 assessment year 1516. Pranab mukherjee, the finance minister of india, announced the new personal income tax slab rates while presenting the union budget of india, also called the indian general budget, on friday, march 16, 2012 in new delhi. Latest income tax slabs rates for fy 2012 and as 2014.
Income tax slab rates for ay 20142015 and fy 202014. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. Please give only relevant comments as irrelevant comments are waste of time for yourself and our other readers. Save tax with hdfc lifes various online insurance products. If you want to continue this discussion or have a follow up question, please post it on the network. Aug 11, 2011 income tax rates slabs ay 200910 individual huf boi aop the rates for assessment year 200910 is given in the table below. 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. The biggest beneficiaries would be people having income between rs.
Every year the income tax rates are changed and it is important to get the latest income tax rates. 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 2014 and 201415income tax slabrateincome tax slabrate for assessment year 2014 and income tax rates for f. 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. Income tax rates tax slab for ay 20142015 fy 202014 by.
India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. Dear member, gujarat pt slab for the following 3000 to 5999 rs. Y 201415 are same as budget of 2103 has made no changes in the income tax slabrates for individual, woman,senior citizen, super senior. Income tax slabs for assessment year 2014 financial. Income range tax percentage 1 up to rs 2,50,000 no tax exempt 2 2,50,001 to 5,00,000 10% 3 5,00,001 to 10,00,000 20% 4 above 10,00,000 30% new income tax slabs for ay 20 14 for resident senior citizens above 80 years fy 2012. Income tax slab rates for financial year 201516 assessment. New income tax slabs for ay 2014 for resident senior citizens above 60 years fy 2012 s. However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the taxable income exceeds rs.
The new and revised income tax slabs and rates applicable for the fy 2012 and ay 2014. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Income tax rates tax slab for ay 20142015 fy 202014. Income tax slabs for fy 20 2014 here are the slabs for the income tax for the income incurring in fy 20 2014. Income tax slab tells the tax rate at which you have to pay tax on income. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. The income tax rates and slabs applicable for the financial year 20 14 are same as it was during financial year 2012, except the two major changes which was given below. Net income range income tax rates surcharge education cess upto rs. A 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 income tax slab rates a. In the union budget 2012, finance minister pranab mukherjee has given a marginal benefit on the much awaited income tax slabs.
There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Almost the slabs and rates for income tax 2014 are similar to previous year i. Rates of depreciation under section 32 assets rate building residential building other than hotels and boarding houses 5%. Latest income tax slabs and rates for fy 2012 and as 2014. Taxable income in 10% slab maximum tax will be rs 32000. Income tax slabs for assessment year 2014 financial year. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. Income tax slab rates for financial year 2014 assessment.
We have provided the latest income tax slabs for financial year 2014 or assessment year 201415. The amount of incometax shall be increased by education cess on income tax at the rate of two per cent of the incometax. The new and revised income tax slabs and rates applicable for the fy 2012 and ay 20 14. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Major changes in income tax returns fy 20 14 or ay 201415 by ankur srivastava uploaded on 06072014 you can give your feedback comments about this article.
For individuals, huf, association of persons aop and body of individuals boi. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. For resident woman who is below 65 years of age at any time during the previous year. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay 2012. For normal category the simple calculation is as follows. Apr 22, 20 the slab of income tax rates for fy 2012 ay 20 14 is to some extent different from that of slab of fy 1112 ay 2012.
The category of women below the age of 65 years has been removed. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. Apr 19, 2019 income tax slab for financial year 20 14 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. Please click on the links below to view the income tax also written shortly as i. The basic exemption limit has been increased from rs 2 lakh to rs. Calculate tax liability for ay 201415 income slabs tax ratesi. In case of individual other than ii, iii and iv below and huf. Here is the ready reckoner of tax slabs for the financial year 20 14 which.
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. In case of an individual resident who is of the age of 60 years or more but. So, there will be an additional saving of rs 22000 in tax if your taxable income is rs 10, 00,000 as compared to previous year. 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 slabs and rates for fy 202021 bankbazaar. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014. Income tax slab rates for 20 14 and 201415 by shankar bose inspector of income tax mstu, puri. Currently we have listed slab rates from assessment year 199293 to 2014. The surcharge shall be subject to marginal relief, which shall be as under. We have provided the latest income tax slabs for financial year 2014 or assessment year 201415 almost the slabs and rates for income tax 2014 are similar to previous year i. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Anybody can help regarding new tax slab rates like income tax, tds, professional tax etc.
Income tax ratesslab for assesment year rate % 201112 f y 201011 up to 1,60,000 up to 1,90,000 for women nil up to 2,40,000 for resident individual of 65 years or above 1,60,001 5,00,000 10 5,00,001 8,00,000 20 8,00,001 upwards 30 few amendments made to the. As per the finance act, 2012, incometax rates applicable for assessment year 2014 financial year 2012 applicable to individual, huf. Income tax slabs for financial year 201718 assessment year 1718. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or. Income tax slabs income tax rates and deductions for fy 2017. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax. Oct 15, 2012 income tax slab rates for financial year 2012 20 i. The rate of tax on dividend income received in excess of the standard rate band in 2014 is 37. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. Income tax income tax rates ay 2014 fy 2012 referencer. Income tax slabs and rates for individual, senior citizen, huf, firm, local authority, coop. Income tax slabs for fy 202014 here are the slabs for the income tax for the income incurring in fy 202014.
The 20% slab has been expanded and its limit has been moved up from 8 lakhs to 10 lakhs. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. Income tax rates for fy financial year 2012 ay assessment year 20 14, for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. 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.
Hdfc life provides the latest income tax rates in india for different age groups and tax benefits offered by various life insurance policies, for financial year 20 14. Here is the ready reckoner of tax slabs for the financial year 2014 which. Threshold limit for resident women assessees below 65 years of age and resident individuals of 65 years and above will be rs. Given below is an example of how income tax is calculated under the new regime optional. Given below are the various tables for the latest income tax slabs for the fy 20202021. Income tax slabs income tax rates fy 2014 av 201415.
Tax rates as applicable for different persons for the a. Income tax slabs ay 201415 fy 2014 income tax slabs ay 201516 fy 201415 income tax slabs ay 201617 fy 201516 income tax slabs ay 201718 fy 201617 income tax slabs ay 201819 fy 201718 income tax slabs ay 201920 fy 201819 income tax slab rates for ay 201011 fy 200910 resident male individuals aged less than 65 years. 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. The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 2. Income tax rates for financial year 2012 and ay 2014. Rates of depreciation under section 32 assets rate building residential. The amount of incometax shall be increased by a surcharge at the rate of 7% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 12% of such tax, where total income exceeds ten crore rupees. Threshold limit for resident women assessees below 65 years of. Union budget 20 14 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. In the case of a resident individual of sixty years or more but less than eighty years, the basic exemption limit is inr 250,000. Income tax slabs for financial year 2014 goodreturns.
Income tax slab for financial year 2014 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. Assessment year 201516 income tax slab rates for 1. Apr 05, 2014 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. Government of india income tax slab rates for ay 202014. Income tax slab for financial year 201415 mytaxcafe. New income tax slabs for ay 20 14 for resident senior citizens above 60 years fy 2012 s.
Latest income tax slabs and rates for fy 2012 and as. For senior citizens age 60 years or more but less than 80 years. In case of individual being a woman resident in india and below the age of 60 years at any time during the previous year. Rates of income tax fy 20 14 ay 201415 as per finance act, 20 as per the finance act, 20, income tax is required to be deducted under section 192 of the act from income chargeable under the head salaries for the financial year 20 14 i. As there was no change in income tax slabs for fy 201516 i. Ay 202122 fy 202021 income tax january 12, 2020 understanding bsda basic services demat account demat january 11, 2020 senior citizen savings scheme retirement december 22, 2019 income tax rates.