Latest income tax slabs and rates for fy 2012 and as 2014. 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. The amount of income tax shall be further increased by education cess of 3% on income tax. Tax slab for financial year 201516 assessment year 1617. Latest income tax slabs in india fy 201617 or as 201718 income range. Income tax slab rate for ay 202122 for individuals opting for old tax regime, introduced in budget 2020 by our finance minister. I ndian income tax system follows income tax slabs for levying the tax on the income. 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. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order. Income tax slabs for filing tax return for individuals and hufs. Income tax slabs 202021 new income tax slabs, brackets. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no. 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.
It is deductible from income tax before calculating education cess. Under section 87a of the income tax act, taxpayers with income up to. Income tax income tax rates ay 2012 fy 2011 referencer. Income tax slabs income tax rates and deductions for fy 20.
Watch out this space on 28th february for all the latest details about the tax slabs and their impact on your own budget. 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. 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. Click here for all the information and analysis you need for taxsaving this financial year. The age groups are up to age 60, age 60 to 80 and above age 80. Income tax slab rates 201920 pdf download ay 202021.
The income tax slab fy 1920 is a set of predetermined rates based on which a taxpayers income is assessed. For individuals below 60 years age including woman assessees. 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. 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. Latest income tax slabs and rates for fy 2012 and as. The national board of revenue nbr is the apex authority for tax administration in bangladesh. There is no change in tax structure for woman and senior citizens. Permanent account number pan every assessee is required to. Nirmala sitharaman unveils optional tax regime in budget, reduces tax for income up to rs 15 lakh without exemptions. Income tax rates income tax slabs for assessment year. Deduction under section 80u of income tax act 1961 can be claimed by an individual who is a resident in india for the financial year relevant to the assessment year in which the person is taking the benefit.
Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. 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. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. Income tax slab rate for fy 2012 pdf income tax rates. Assessment year 2014, relevant to financial year 2012. 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. The finance minister has introduced many changes in the income tax slab. Income tax rates for financial year 201415 and 20152016 are same, there is no change in tax. 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. Income tax slab for fy 202021 pdf download income tax. The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today.
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 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. Women below 60 years of age this category is abolished from this year and is thus is same as that of general. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 2014 latest income. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or nonindividual. Tax deduction for physically disabled persons income tax. Basic exemption for general taxpayers raised to rs 2 lakh. In the budget 20 announcement the tax slabs has been broadened for. New income tax slab for ay 12 new income tax slabs. Here we present to you all income tax slab rates india for past 25 years. Latest income tax slabs and rates for fy 2012 and as 2012. Income tax rates slabs for the financial year 20112012 a. In union budget 202021, the news tax slab rate regime is optional and a taxpayer can choose to pay tax.
Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. The new tax slab rate was rxte but changes are not of much significant. The age of the individual is the factor to divide the slab rates in the income tax table. 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. Income tax rates applicable for the financial year fy 2012 and assessment. The amount of rebate is 100 per cent of income tax or rs. Check the latest income tax slabs, tax rate for fy 202021. Income tax rates income tax slabs bihar chamber of commerce. Now this year, it is expected that this upper limit may be changed to rs. 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. Looking for the income tax slabs and rates for the financial year 201112 or assessment year 2012. Income tax slab for ay 202021 pdf download news, income.
The amount of income tax shall be increased by a surcharge at the rate of 10% of such tax, where total income. 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 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 slab rates 202021 pdf download ay 202021. Capital gain index for financial year 2012 is 852 section 48, explanation v of the income tax act, 1961 capital gains computation of notified cost inflation index for financial year 2012. Income tax slabs and tax rates in india for fy 202021. 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.