New income tax slab for assessment year 2013-14 pdf

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 slabs and tax rates in india for fy 202021. In the case of a person being an individual where the total income includes income chargeable to income tax, under the head. Here is the ready reckoner of tax slabs for the financial year 2014 which. Income tax slab for financial year 2014 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. Subramanian, chief economic advisor, and a member of the central board of direct taxes, akhilesh ranjan, has tabled a report on 19 august 2019. Income tax slab tells the tax rate at which you have to pay tax on income. Assessment year 2014, relevant to financial year 2012. Budget 2019 has made some changes to income tax for individual the highlight being full tax rebate for individuals earning below rs 5 lakhs. Income tax income tax is one of the direct tax and it is levied on the incomes of individuals, huf, unregistered firms and other associations of peoples. Income tax rates for financial year 2012 and ay 2014. Use our free income tax calculator for getting an idea of how much tax you will.

Income tax slab for filing tax return on income in india. Income tax rates financial year 2014 incometax slabs. It is deductible from incometax before calculating education cess. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. The constitution of india schedule vii union list entry 82 has given the power to the. 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 20142015 previous year 2014. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Itr1 sahaj,itr2,itr3, itr4 and itr4s sugam has been released. Income tax return form for assessment year 2012 has been released by income tax department. Latest income tax slabs and rates for fy 2012 and as 2012. Income tax act was passed in sep 1961 and came into force in 1st april 1962. Financial year 201516 assessment year 201617 every year the income tax rates are changed and it is important to get the latest income tax rates.

Government of india income tax slab rates for ay 20142015. For the assessment year 201617, individuals earning an income up to. Now itr5 and itr6 has also been released in paper form. Latest income tax slabs rates for fy 2012 and as 2014. In case of individual other than ii and iii below and huf. Income tax calculator for fy 201920 ay 202021 excel. Please click on the links below to view the income tax also written shortly as i. New income tax slabs for ay 1415 for resident senior citizens above 60 years. Income tax rates 20142015 for filing individual tax returns. General rate slab rate for individual resident aged below 60 yearsnri huf aop boi income slabs tax rates where the taxable income does not exceed rs. A new section 115bac has been introduced which provides for new tax regime for individuals and huf.

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. Tax rebate of rs 2000 to resident individuals whose total income is less than rs 5,00,000. For individuals below 60 years age including woman assessees. It was established by the father of the nation bangabandhu sheikh mujibur rahman under. Proposed tax slab for financial year 14 assessment year 1415. Income tax slab for financial year 2012 assessment year 20 14 tax man women senior citizen rate in rupees in rupees in rupees 1 0 00 upto 2 00 000 upto 2 00 000. This post is helpful because it is cleanly describe what percent of tax is chargeable under different slab. Latest income tax slabs in india fy 201617 or as 201718 income range. The budget 2014 has changed the income tax slab rates slightly as. For financial year 2014, additional surcharge called the education cess on incometax and secondary and higher education cess on incometax shall continue to be levied at the rate of two per cent. Income tax rates in india and comparison with other countries and exemption. What is the income tax slab rate for assessment year 202014.

We highlight the changes and give you the new tax calculator for fy 201920 ay 202021. It is deductible from income tax before calculating education cess. Previous year income tax rates for individuals tax2win. This is the income tax slabs for financial year 2012 and the analysis year 2014. India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. New sec 80tta exempts up to rs 10,000 interest earned on bank balance. Income tax slabs for assessment year 2014 financial. What are the slabs and exemptions for assessment year 201415 fy 2014. Ministry of finance has come up with many changes with regard to filing income tax return for the assessment year 2014 relating to the financial year 2012. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. Latest income tax slabs and rates for fy 2012 and as. New income tax slab for ay 12 new income tax slabs for ay 12 for resident senior citizens above 60 years fy 201112. 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. 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 2014 changes in budget affecting salaried. 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 rates slab for fy 2012 or ay 2014 ebizfiling. Click here to save tax with hdfc lifes various online insurance products. A in case of individual including women whose age is not more than sixty years. Due date for filling income tax return for financial year 2012ay 2014 where audit not required, is 31. Income tax 201415 exemptions available to salaried employees for the financial year air india ltc80 fare with effect from 1st may 2015 the year 2014 for a first time house buyer with total property cost and amount of loan are not. The same has been announced at the time of budget 2016 the tax rates will be applicable for financial year 201617 and assessment year 201718. 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.

Income tax ratesincome tax slab for assessment year 202021 previous year. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Every individual want to know how much tax will be payable by him and what income tax slab lying for his salary. What is income tax rates in india for financial year 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. In addition an rebate of rs 2000 will be available for income less than rs 5 lakhs. Hdfc life provides the latest income tax slab rates and deductions in india for tax. The amount of incometax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such incometax and surcharge. Please find given below the forms issued by income tax department for returns filing as per categories mentioned below. Income tax slab for financial year 201415 mytaxcafe. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below.

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 new income tax rates or income tax slabs are effective from april 01, 20. 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. Government of india income tax slab rates for ay 202014. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. Tax slab for financial year 201415 assessment year 1516 for men below 60 years of age for senior citizens age 60 years or more but less than 80 years. 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. Incometax rates applicable in case of companies for assessment year 201920 and 202021 are as follows. Detailed article on the income tax slabs for fy 2012 and ay 2014. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. It is the major source of revenue to the government.

New income tax return forms 2014 assessment year return forms for assessment year 2014. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. Government of india has increased the basic personal income tax exemption limit from rs. Income tax slabs for financial year 2014 goodreturns. 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. As per the finance act, 2012, incometax rates applicable for assessment year 2014 financial year 2012 applicable to individual, huf, is as follows. The previous income tax slab for year 201220 can be found here income tax slabs 2012. Income tax 2014 changes made in income tax provisions in the union budget 2014 which would affect salaried class income tax structure and provisions relating to central government employees and pensioners for the year 2014 assessment year 201415. Women below 60 years of age this category is abolished from this year and is thus is same as that of general. As it is announced by fm that no revision in income tax structure for the year 2014 assessment year 201415, the income tax structure for the year 2012 to continue which given as follows. Exemption in income tax for assessment year 2014 f.

Income tax slabs income tax rates fy 2014 av 201415. These rates are subject to enactment of the finance bill 2012. The basic exemption limit has been increased from rs 2 lakh to rs. Previous year income tax rates for individuals know the old income tax rates for last 10 f. The amount of rebate is 100 per cent of incometax or rs.