Income tax rates slab 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. Income tax slab for ay 202021 pdf download latest hindi news, income tax slab for ay 202021 pdf download breaking news, find all income tax slab for ay 202021 pdf download at live hindustan, page1. Many of us have the confusion of understanding what is gross income and what is total income or taxable income. This form of tax is in practice for a long time and states were continue reading professional tax for the. Income tax slab 201718 ay 201819 budget 2017 from fy 201718, those with annual income between rs 50 lakh to rs 1 crore will be levied a surcharge of 10 per cent.
The income tax slabs for ay 1112 are different from tax slabs for ay 10 11 as in the new tax slabs there is more saving of income tax as the slab ranges have been revised upwards and changed significantly leading to more tax savings. Rates for deduction of income tax at source from salaries, computation of advance tax and charging of income tax in special cases during the financial year 20162017. In case you want to know what kind of tax you are liable to pay for the current financial year and what is the new income tax slab then do read on to know more about the changes made this year in tax slabs by the indian government. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. This year the honorable finance minsiter of india, piyush goyal has presented the interim. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories. Following are the major highlights of the latest income tax slab. The highlights of the interim budget 2019 in regard to the tax slabs and rates can be summed up as follows. Income tax slab rates 201920 pdf download ay 202021. In union budget 202021, the news tax slab rate regime is optional and a taxpayer can choose to pay tax in the old regime. Income tax slabs rates for fy 201718 and useful income tax deductions income tax slabs for fy1718. The latest income tax slabs based on the union budget presented on 29 february 2016. 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.
Rates of income tax as applicable to individuals, hindu undivided families huf and. Income tax rates in india and comparison with other countries and exemption limits of all. Recently, the income tax rates, income tax limits, and income tax slabs were decided for fy 201920. Income tax slab rates 202021 pdf download ay 202021. New income tax slab proposed in budget 201011 and its impact on male individual, female individual, huf and senior citizen. Nirmala sitharaman unveils optional tax regime in budget, reduces tax for income up to rs 15 lakh without exemptions. Assessment year 200809, relevant to financial year 200708. Before jumping into latest income tax slab rates fy 202021 ay 202122, first understand the difference between gross income and total income. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax slab income tax. Income tax slabs income tax rates fy 201112 av 2012. Steps to file your indian income tax return quickly with.
We will understand how these new tax rates which are. The amount of rebate is 100 per cent of income tax or rs. Income tax slab for ay 202021 pdf download news, income. Check the latest income tax slabs, tax rate for fy 202021. Income tax slabs income tax rates income tax limit. The finance act, 2020 will bring a new income tax slab rates for individual and hindu undivided family huf. Income tax slab rate for ay 202122 for individuals opting for old tax regime, introduced in budget 2020 by our finance minister. Income tax slabs and tax rates in india for fy 202021. Income tax slabs and rates for financial year 201920. Assessment year 201112, relevant to financial year 201011. For senior citizens the basis income tax exemption limit is rs 3 lakh and for super senior.
Highlights of the interim budget 2019 in regard to tax slabs and rates. It is deductible from income tax before calculating education cess. Calculate your tax based on the tax slabs for year 20162017. Incometax slab rates for individual for fy 201516 ay. Reorganizing the different income tax slabs and simplify overall tax. Detailed split for general, women, senior citizen etc are provided. Professional tax is a tax levied by the various state governments of india on salaried individuals, working in government or nongovernment entities, or in practice of any profession, including chartered accountants, doctors, lawyers etc or carry out some form of business. Income tax rates slabs for the financial year 20112012 a. 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.
The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. New income tax slab for ay 12 new income tax slabs for ay 12 for resident senior citizens above 60 years fy 201112. Income tax slabs 202021 new income tax slabs, brackets. A comparative analysis of income tax calculation for fy 202021 ay 202122 under the existing tax slab and the new income tax slabs introduced in budget 2020 can be understood by comparing taxable income under both scenarios. Normal tax rates applicable to a resident individual of the age of 60 years or above. The age groups are up to age 60, age 60 to 80 and above age 80. Income tax rate chart income tax slabs as applicable for assessment year 201718 financial year 201617 for individual, huf, aop, boi, partnership firms, llp and companies. The following income tax slabs are applicable for the financial year 201819 i. 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. Under section 87a of the income tax act, taxpayers with income up to. Incometax slab rates for individual for fy 201718 ay.
The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. The national board of revenue nbr is the apex authority for tax administration in bangladesh. Latest income tax slabsrates for fy 201718, ay 201819. The latest income tax slabs based on the union budget presented on 01 february 2018 calculate your tax based on the tax slabs for year 20182019. Budget 2020 new income tax rates new income tax slabs in this video, we are going to discuss new tax rates proposed by the budget 2020. Budget 2020 new income tax rates new income tax slabs. Income tax slab rates for individualhuf for fy 201415. The income tax slab fy 1920 is a set of predetermined rates based on which a taxpayers income is assessed.
It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no. New income tax rates for individual and huf from fy 2020. Other deduction from income under income tax fy 1112. Arun jaitley presented the union budget on 29 february 2016. Income tax slab for ay 202021 pdf download central. The finance minister, in the budget today, changed the tax slabs for men, women and senior citizens. 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 slab rates 201819 pdf download ay 201920.
For individuals below 65 years age, other than woman assessees. Income tax slabs and rates proposed for financial year 201920 as per interim budget 2019, individual taxpayers having taxable annual income up to rs. Cess is 1% of income tax rebate us 88e is not available w. The highest tax slab has now been raised from rs 5 lakh to rs 8 lakh.
Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. You have blocked the notification on recent updates. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 201617 ay 201718. 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. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. 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.
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. Income tax deductions and exemption available under various sections and the investment options available to the individuals. As per the finance act, 2011, incometax rates for the financial year 20112012 i. Income tax deduction and exemption is available to the individuals under section 80c, 80ccd, 80ccc up to the extent of rs 1,50,000. For individuals, huf, association of persons aop and body of individuals boi. Download income tax slab for ay 201617 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 201617. Income tax slab rates fy 202021ay 202021 aegon life. To help rationalize the impact of taxation on people who do not earn enough, there are income tax slabs in india. Income tax rates for fy financial year 201112 ay assessment year 2012,for individuals,men, women, senior citizens, hufs and other categories. The tax slabs for the financial year 201920 remain unchanged. This new income tax rates will be effective from financial year fy 202021 relevant to the assessment year ay 202122.
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