Income tax slab rates for ay 20142015 and financial year 2014 income tax slabs and rates are changed almost every year. Income tax department has issued a circular about tds on salary and all the aspects of income tax on salary, different circulars and notifications, forms, deduction on salary etc. What is income tax, income tax slab for fy 201718, e. Income tax slabs for financial year 2014 goodreturns.
As there was no change in income tax slabs for fy 201516 i. Income tax slabs for financial year fy 201516 sa post. Latest income tax slabsrates for fy 201718, ay 201819. Tds from salary during financial year 2014 pdf download. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. The national board of revenue nbr is the apex authority for tax administration in bangladesh. Income tax slabs income tax rates and deductions for fy 2014. 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. Income tax slabs for filing tax return for individuals and hufs. Here are the slabs for the income tax for the income incurring in fy 202014. Latest income tax slabs and rates for fy 2012 and as.
Hi kindlyclarify whether rebate u s 87a for fy 20 14 is applicable onthe amount of taxablesalary after all deductions including chapter vi a deduction or from total earnings including basic da hra conveyance etc thank you ronald income tax. 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. There will be no surcharge on income tax payments by partnership firm and cooperative society while for domestic company surcharge will be 5% and anad 2% on foreign company for fy 2012 ay 2014. 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. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age.
Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. For financial year 2014, additional surcharge called the education cess on income tax and secondary and higher education cess on income tax shall continue to be levied at the rate of two per cent. Income tax rates for individuals are same for fy 201516 and fy 201415. Income tax calculator fy 2014, ay 201415 xls download please login cite. Net income range income tax rates health and education cess up to rs. Additional surcharge on income tax secondary and higher education cess on incometax. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. Another significant change in this budget was abolishing lower tax slab for women. This is the income tax slabs for financial year 2012 and the analysis year 2014. Below are the income tax slab rates for fy 201617 or ay 2017 18. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. Income tax slab for financial year 2014 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. For senior citizens age 60 years or more but less than 80 years. 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.
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. The amount of income tax shall be increased by education cess on income tax at the rate of 2% percent of the income tax payable by both. Income tax rates for fy 2014 assessment year 201415. Income tax rates for financial year 2012 and ay 2014. 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. Minor changes have been made in tds rates for fy 2014 by finance minister in budget. The budget 2014 has changed the income tax slab rates slightly as. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. The amount of incometax shall be increased by education cess on income tax at the rate of two percent of the incometax. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Please click on the links below to view the income tax also written shortly as i. Income tax is one thing which every salaried man on the street is interested in.
It was established by the father of the nation bangabandhu sheikh mujibur rahman under. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Income tax slab tells the tax rate at which you have to pay tax on income. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. Taxable income in 10% slab maximum tax will be rs 32000. Income tax rates for taxpayers less than 60 years old. India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. Income tax slab from assessment year 20012002 to a. Income tax slab for financial year 201415 mytaxcafe. 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 2014. 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. Home loan income tax exemption limit increased from rs. 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 1415 for resident senior. Looking for the income tax slabs and rates for the financial year 2014 or assessment year 201415.
Tax rebate us 87a claim upto rs 2000 tax rebate, if the taxable income doesnot exceed rs 5 lakh. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Income tax slab rates for ay 20142015 and fy 202014. 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. Income tax rates for financial year 201415 and 20152016 are same, there is no change in tax. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617.
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. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or nonindividual. Here is the ready reckoner of tax slabs for the financial year 2014 which. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. Y 2014 new income tax slabs for ay 1415 for resident senior citizens above 60 years fy 2014 s. Income tax slabs income tax rates fy 2014 av 201415. Income tax slabsrates for fy 201718 and useful income tax deductions. 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.
Income tax rates tax slab for ay 20142015 fy 202014. Income tax circular 2014 circular, income tax 2012 amendment of income tax ordinance section 19. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. Paripatra2014 income tax paripatra income tax 202014. 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. Income tax structure 2014 assessment year 201415 budget highlights. Latest income tax slabs rates for fy 2012 and as 2014. Every year the income tax rates are changed and it is important to get the latest income tax rates.
Income tax slab rates for fy 201617 ay 201718 budget. 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. Simple income tax calculator fy 201516 xls download archive income tax calculation sheet fy 201415, ay 201516 archive. New sec 80tta exempts up to rs 10,000 interest earned on bank balance. Based on the annual income earned by an individual, the following table. Ay 201617, the following rates were also applicable for fy 201415 ay 201516.
What is income tax, income tax slab for fy 201718, efiling process as we work to earn our living to fulfill our needs and desires, the government has its own ways of earning money which is, in turn, utilized for creation or betterment of infrastructures for us to avail. Please give only relevant comments as irrelevant comments are waste of time for yourself and our other readers. The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. Given below are the various tables for the latest income tax slabs for the fy 20202021. Incometax slab rates for individual for fy 201415 ay. How to calculate income tax for fy 202021 income tax. Income tax slabs for assessment year 2014 financial. Income tax slab for filing tax return on income in india. Income tax rates for year 2014, 2012, 20112012, 20112011 for filing. For normal category the simple calculation is as follows.