Permanent account number pan every assessee is required to obtain 10 alpha numeric permanent account number pan and quote the same in. For normal category the simple calculation is as follows. Looking for the income tax slabs and rates for the financial year 201112 or assessment year 2012. Income tax slabs for fy 2012, what are income tax rates for individuals, hufs, firms and corporate. Income tax slab rates for womens, income tax slab rates for mens, income tax slab rates for senior citizens, income tax slab rates for super senior citizens, etc. You have blocked the notification on recent updates. Assessment year 2012, relevant to financial year 201112. Income tax slab rates for last 25 years in india 199293. It was established by the father of the nation bangabandhu sheikh mujibur rahman under. 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 total income exceeds rs. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Assessment year 2014, relevant to financial year 2012. 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.
The finance minister has introduced many changes in the income tax slab rate for financial year. Latest income tax slabs and rates for fy 2012 and as 2014. Now you can scroll down and check more details about income tax slab rates ay 20192020, fy 201617. Income tax rates for year 2014, 2012, 20112012, 20112011 for filing income tax. The revised income tax slabs and rates for financial year 201920 the interim budget for 2019 was recently announced on 1 february 2019. Union budget 2020 has proposed a new tax structure by slashing income tax rates and rejigging the income tax slabs to reduce total tax liability by individuals. Latest income tax slabs in india fy 201617 or as 201718 income range. Income tax slab rate for fy 2012 pdf income tax rates. Income tax income tax rates ay 2012 fy 2011 referencer. Income tax rates for financial year 2012 and ay 2014. Income tax slab rate for ay 202122 for individuals opting for old tax regime, introduced in budget 2020 by our finance minister. Have a look at the past 25 years income tax slab rates for individuals in india. Income tax slab every year amendments are made to the income tax act by proposing a finance bill which directly decides the threshold limits for various tax rates.
The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. These rates are subject to enactment of the finance bill 2012. Income tax rates income tax slabs for assessment year. In india, income tax is charged based on an individuals income. Income tax slabs income tax rates fy 201112 av 2012. Income tax rates for ay 202021 get income tax slab rates for individuals, senior citizens, partnership firm, tax rates for companies, huf, aop, boi, cooperative society, etc. The tax slabs tend to undergo a change during every budget. Income tax slab for filing tax return on income in india. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Tax slab for financial year 201516 assessment year 1617. Steps to file your indian income tax return quickly with. The total amount of professional tax paid during the year is allowed as deduction under the income tax act. Taxable income in 10% slab maximum tax will be rs 32000. Income tax rates for fy financial year 201112 ay assessment year 2012,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess.
As proposed in the new tax regime, 70 tax exemptions will be removed but the income between rs 5 lakh and rs 7. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Latest income tax slabs and rates for fy 2012 and as 2012. The income tax slab fy 1920 is a set of predetermined rates based on which a taxpayers income is assessed. Income tax rates for financial year 201415 and 20152016 are same, there is no. Income tax slab rates 202021 pdf download ay 202021. 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.
In india, we have a progressive method of taxation, this means the more your income is the more tax you will. Latest income tax slabs and rates for fy 2012 and as. The amount of income tax shall be increased by education cess on income tax at the rate of two per cent of the income tax. The national board of revenue nbr is the apex authority for tax administration in bangladesh. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Income tax slab rates for individualhuf for fy 201415. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. Income tax is one thing which every salaried man on the street is interested in. Nonresident individualhuf net income range income tax rates health and education cess up to rs. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. There are lot of changes in tax rates and cess in the last 25 years.
Tds rate for fy avoid litigation on service tax matters wef new services under reverse charge. The amount of rebate is 100 per cent of income tax or rs. Now this year, it is expected that this upper limit may be changed to rs. Nirmala sitharaman unveils optional tax regime in budget, reduces tax for income up to rs 15 lakh without exemptions. 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. There have been talks of change in income tax slabs for next financial year i.
Lets first understand what is income tax slab in india. Budget 2020 presented on february 1, 2020 has made some changes in the tax slab. 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. This category is abolished from this year and is thus is same as that of. Income tax slab rates 201920 pdf download ay 202021. Concept of total income will be covered in latter post. New income tax slab 201920budget 2019 find latest income tax slab rates in india for individuals, nri, huf, boi, aop, llp, local authority, cooperative society and company.
Income tax rates income tax slabs bihar chamber of commerce. For individuals below 60 years age, other than woman assessees. This year the honorable finance minsiter of india, piyush goyal has. Earlier women used to have slight benefit over men in terms of lower taxes. In this budget, a full tax rebate was announced for all the tax paying assessees who have a taxable income of up to rs. Applicable tax rates in fy 2012 ay 2014 for individuals april 22, 20 by alok patnia 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. The professional tax rates is based on the income slabs set by the respective state governments. Professional tax rates for the fy 201920 wealthtechspeaks. Find updated latest income tax slab rates in india for individuals, company, nri, huf, llps.
These tax rates are based on the range of income called income slabs. This is the income tax slabs for financial year 2012 and the analysis year 2014. The following income tax slabs are applicable for the financial year 201819 i. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. Your income from salary, business or other income like income from fixedrecurring deposits etc are taxed as per income tax slabs. It is deductible from income tax before calculating education cess. Another significant change in this budget was abolishing lower tax slab for women. Income tax rates applicable for the financial year fy 2012 and assessment. Income tax slabs for filing tax return for individuals and hufs.
Women below 60 years of age this category is abolished from this year and is thus is same as that of general. A health and education cess of 4% will be added to the total tax outgo besides a surcharge if your income crosses. We shall be now discussing on importance and income tax deductions under sections 80d, 80dd and 80ddb for the purpose of tax saving which this means that there will be no tax if total income of individual is up to rs. Income tax rates after budget 2012 is available here income tax rate chart slabs for assessment year 201112 and earlier years has been given chart form as under in respect of individual, hufhindu undivided family,boibody of individuals so download the charts for link given below or you can read the same online as shown below. I ndian income tax system follows income tax slabs for levying the tax on the income of an individual or. However, the maximum professional tax that may be levied by any state has been capped at rs 2500. For individuals below 60 years age including woman assessees.
Incometax slab rates for individual for fy 201516 ay. The amount of income tax shall be further increased by education cess of 3% on income tax. 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. Income tax slab rates for 202021, income tax rates fy. There are three categories in income tax slabs which is for individual, senior citizen and senior citizen with the age of 80 years and more. Income tax rates for assessment year 2012 resident senior citizens above 80 years super senior citizens. Income tax slabs income tax rates and deductions for fy 20. 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. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or nonindividual.
1302 1289 128 1253 260 629 1412 1232 71 1259 4 288 147 129 472 723 344 1329 1314 1082 615 670 1268 1490 1152 260 1401 307 1274 981 800