Income tax slab rate for assessment year 2015-16 pdf

Incometax slab rates for individual for fy 201516 ay. But the tax slabs have not been changed for the last few years. X, aged 45 years, submitted the details of his income and investment for financial year 201415, as under. Last 25 years income tax rates linkedin slideshare. As i have to urgently put up a claim to it dept for refund related to previous 20 years can you please send me the details of entire it slabs. Income tax slabs for individuals are divided into 3 slabs. Today we are providing income tax slab rates for assessment year.

In india, we have a progressive method of taxation, this means the more your income is the more tax. Calculation of income tax for salaried employees bnn lakshmaji rao, assistant accounts officer. Assessment year 201516 i individual assessees including women assessees. Given below are the various tables for the latest income tax slabs for the fy 20202021. Various examples of calculation of income tax learn. Income tax rates depend on an individuals tax residency status.

Income tax rate chart income tax slabs as applicable for assessment year 2015 16 financial year 201415 for individual, huf, aop, boi, partnership firms, llp and companies. Oct 14, 2019 government of india has increased the basic personal income tax exemption limit from rs. Therefore, the itr forms remove the concept of type of goods carriages and to provide for uniform rate of rs. Income tax slab rate for the fy 201415 and assessment year 201516, rate chart of income tax after budget 2014. Also health and education cess of 4% is applicable on the amount of tax computed, inclusive of surcharge. Given below are the latest income tax slabs applicable for financial year 202021 assessment year 202122 in the exisitng tax regime. Income tax slabs and rates for assessment year 201516 cakart. It slabs from fy 200809 to fy 201516 income tax caclubindia. Government of india income tax slab rates for ay 20142015. 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. Calculate his income tax liability for financial year 201415 assessment year 2015 16.

Jun 03, 2014 income tax rate for last 15 years for individual, huf, aop and boi last updated on june 3, 2014 by editorial staff income tax rate is a percentage specified in the finance bill as a rate to be charged on the taxable income of financial year to which the finance bill is relevant. Know more about income tax slabs and rates for assessment year 2015 16. 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. Income tax slabs and tax rates in india for fy 202021. 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 slab for filing tax return on income in india. Income tax slabs and rates for assessment year 201516. Please click on the links below to view the income tax slabs and rates for the assessment year 2015 16 applicable on income earned during 01. The table shows the tax rates you pay in each band if you have a standard personal. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. Jul 14, 2016 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. Previous year income tax rates for individuals tax2win.

Mar 21, 2017 income tax slab rate for the fy 201415 and assessment year 2015 16, rate chart of income tax after budget 2014. Income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for individual, huf, aop, boi, partnership firms, llp and companies. For normal category the simple calculation is as follows. Income tax rates 20142015 for filing individual tax returns. There are lot of changes in tax rates and cess in the last 25 years. Past 25 years income tax rates for individuals, huf, aops, bois ay 199293 to ay 201415 income tax rates for assessment year 199293. Income tax slabs for financial year 201415 and assessment. Surcharge is levied on the amount of income tax at following rates if total income of an assessee exceeds specified limits. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no. Income tax rates slabs for financial year 201516 assessment year 201617 for male individuals below 60 years resident of india income tax rates up to 250000. Income tax slabs and rates proposed for financial year 201920 as per interim budget 2019, individual taxpayers having taxable annual income up to rs. Apr 14, 2020 lets first understand what is income tax slab in india. The income tax for senior citizens is calculated based on the basic salary, house rent allowance, fixed allowances, and other sources of income.

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 for last 25 years in india 199293. Assessment year 201516, relevant to financial year. Here is a primer on income tax slab rates for ay 201617. Jul 11, 2014 income tax rate chart income tax slabs as applicable for assessment year 2015 16 financial year 201415 for individual, huf, aop, boi, partnership firms, llp and companies. The current tax year is from 6 april 2019 to 5 april 2020.

Income tax rates slabs for financial year 2015 16 assessment year 201617 for male individuals below 60 years resident of india income tax rates up to 250000. Nov 18, 2011 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. Return forms for assessment year 201516 income tax. The following income tax slabs are applicable for the financial year 201819 i. Normal rates of tax applicable to all individuals who are less than 60 years of age. Income tax slab rates assessment year 201516 accounting. Income tax slabs income tax rates income tax limit. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. Download income tax calculator for free for previous year 2014 2015. Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. Income tax rate for last 15 years for individual, huf, aop.

For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and gazetted warwounded freedom fighter, income tax is payable for the on first upto tk. For the assessment year 2021 the local authority will be taxed at 30 percent. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india as proposed in the union budget for fy 201415 is as under. Assessment year 2015 16 income tax slab rates for 1. The following income tax rates are applicable for the financial year ending march 31, 2016 i. Various examples of calculation of income tax learn accounts. Taxable income in 10% slab maximum tax will be rs 32000. Income tax rates slabs for financial year 201516 learn. Last 25 years income tax rates for individuals, huf, aops, bois ay 199293 to ay 201415 by shankar bose inspector of income tax oo the principal chief commissioner of income tax, odisha, bhubaneswar 2. 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. Income tax slabs are reintroduced in union budget 201415 and no big change in the tax slabs for the financial year 201415 and assessment year 2015 16. Rate of surcharge assessment year 202122 assessment year.

You will be treated as a tax resident for a particular year of assessment ya if you are a. Income tax slab rates 201920 pdf download ay 202021. Several websites offer income tax calculators in an excel sheet format which can be downloaded. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account number. We give below the income tax rates and slabs applicable for the fy 2015 16 or ay 201617. Incometax slab rates for individual for fy 201415 ay. Recently, the income tax rates, income tax limits, and income tax slabs were decided for fy 201920. The finance minister has introduced many changes in the income tax slab rate for financial year. In india, tax on ones income is charged in a manner that as the taxpayers income increases, he is required to contribute more portion of his earned income in the form of taxes to the.

Articles explains rates of income tax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt, commodities transaction tax ctt and dividend distribution tax ddt rates for financial year 2015 16 i. In india, we have a progressive method of taxation, this means the more your income is the more tax you will pay income tax slab are the income slabs defined by the tax department. Income tax slab rates for financial year 201516 assessment. Income tax slabs 202021 new income tax slabs, brackets. Income tax rates slab for assessment year 201617 previous year 201516 income tax rates for financial year 201415 and 20152016 are same, there is no change in tax rates rates %age. Education cess of 3% is also applicable to income tax computed as per above slab. In order to gain tax benefits to the fullest, it is essential to understand the current income tax slab rates. Income tax rates in india, income tax limit, taxable income. 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. Incometax slab rates for individual for fy 201516 ay 2016. Income tax slab rates change every year after the announcement of budget. Assessment year 200809, relevant to financial year 200708. For individuals below 65 years age, other than woman assessees. Income tax slab rates for financial year 2014 assessment.

Please click on the links below to view the income tax also written shortly as i. Income tax rate for last 15 years for individual, huf, aop and boi last updated on june 3, 2014 by editorial staff income tax rate is a percentage specified in the finance bill as a rate to be charged on the taxable income of financial year. Latest income tax slabs and rates for fy 201516 and ay. Net income range rate of income tax assessment year 202122 assessment year 202021 up to rs. Income tax slab rates for fy 2015 16 ay 201617 are as under. Latest income tax slabs and rates for fy 201516 and ay 201617. Today we are providing income tax slab rates for assessment year 201617.

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 amount of income tax shall be increased by a surcharge at the rate of 10% of such tax, where total income. Income tax calculation for senior citizens fy 202021. Income tax rate for last 15 years for individual, huf. Income tax rates for assessment year 199293 income slab rs. The new india income tax rates announced by finance minister of india for individuals and body of individual or association of person while presenting the union budget 2015 16 in the parliament are listed below. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Lets first understand what is income tax slab in india.

For individuals below 60 years age including woman assessees. Tax rebate of rs 2000 to resident individuals whose total income is less than rs 5,00,000. 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 slab for financial year 201718 and assessment year 201819. Financial year 2015 16 assessment year 201617 every year the income tax rates are changed and it is important to get the latest income tax rates. It helps to determine the income tax rate at which you will be taxed in india. Assessment year 201617, relevant to financial year 2015 16.

At hdfc life, we ensure that our customers are wellinformed about the latest income tax slab rates in india as well as the tax benefits relevant to life insurance policies for the financial year. Surcharge and education cess see note income tax slab rates 201920 pdf download. The national board of revenue nbr is the apex authority for tax administration in bangladesh. A individuals born on or after 1st april, 1956 age less than 60 years. The new income tax rates or income tax slabs are effective from april 01, 20. Rate of surcharge assessment year 202122 assessment year 202021. Income tax slab rates for last 25 years in india 199293 to. The tax slab rates for individual below 60 years and for nri aop boi hufajp. Calculate his income tax liability for financial year 201415 assessment year 201516. In case income is more than rs 1 crore, a surcharge of 12% is applicable on the income tax amount. For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and gazetted warwounded freedom fighter, income tax. From assessment year 2015 16, presumptive income in respect of goods carriages is computed at a uniform rate of rs.