Income tax at a glance among direct taxes, income tax is the main source of revenue. Every year the income tax rates are changed and it is important to get the latest income tax rates. Income tax slabs income tax rates and deductions for fy. The amount of rebate is 100 per cent of incometax or rs. Latest income tax slabs and rates for fy 201516 and ay. A site for easy to use online tax and other calculators, forms compiled in excel and fillable pdf formats with without autocalculation formulas and information. Individual resident or nonresident, who is of the age of less than 60 years on the last day of the relevant previous year. Income tax slabs and rates for fy 202021 bankbazaar. Indian income tax slabs, rates, calculators, itr, challan, tds, pan and other forms in excel fillable pdf, information of i t actrules. Budget 2019 has made some changes to income tax for individual the highlight being full tax rebate for individuals earning below rs 5 lakhs. 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 net income range income tax rates health and education cess up to rs.
Government of india has increased the basic personal income tax exemption limit from rs. This income is categorized into different groups on the basis of the amount of income. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order. In this post i restrict my subject towards new tax slabs for fy 201415. Income tax slab rate for ay 201819 for individuals. 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. Income tax rates for fy financial year 201415 ay assessment year 201516 final,for individuals,men, women, senior citizens, hufs and other categories surcharge and. Union budget 201516 and 201415 have not altered the rebate available under section 87a for fy 201516, 201415 or ay 201617, 201516 meaning thereby that effectively there will be no income tax payable up to the total income of rs. The rate at which professional tax is charged is based on the income. X, aged 45 years, submitted the details of his income and. 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. Click here for income tax rates for assessment year 201516. Incometax slab rates for individual for fy 201415 ay. Finance minister has presented budget 201516 on 28022015.
Incometax slab rates for individual for fy 201516 ay 201617 steps to file your indian incometax return quickly with. Today i have gone to income tax department to file the return financial year 201415assessment year 201516, whereas the income tax officer has told me to pay penalty rs. Income tax rates for assessment year 20162017 previous year 201516 income tax rates. Download pdf files for form 15g, form 15h, form 60, form 61.
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 201516 i. So you will use itr with ay 201516 on it to file your taxes for the income earned in financial year starting april 1st 2014 and ending 31st march 2015. 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. Revised incometax exemption limit fy201516 individual budget.
An association of person aop or a body of individuals boi any local authority. Income tax slabs for filing tax return for individuals and hufs. Government of india income tax slab rates for ay 20142015. The national board of revenue nbr is the apex authority for tax administration in bangladesh. You can complete filing your income tax return in just 15 minutes using the website or the mobile app. Tax is charged at different rates on the range of income. This form of tax is in practice for a long time and states were conferred the power of leveling the tax under clause 2 of article 276. Finally, income tax slab rates for salaried class in pakistan 202021 has published in the month of june. Income tax slab for filing tax return on income in india. Income tax slabs and rates tax brackets in india income tax exemptions. Ay is assessment year latest income tax rates for fy 201516. Incometax slab rates for individual for fy 201516 ay. Income tax slab rates for individual for fy 201516 ay 201617.
It is deductible from incometax before calculating education cess. Tagsincome tax slabs,income tax slabs for financial year 2014,income tax slabs for ay 201415,income tax slabs for 14,income tax slabs for ay 1415,education cess on income tax,surcharge. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Cbdt extended the due date of filing return of income for ay 201516 from 31st july 2015 to 31st august 2015 june 14, 2015. Income tax slab rates for individual for fy 201516 ay 201617 tax expert. The age groups are up to age 60, age 60 to 80 and above age 80.
An income tax calculator is an online tool designed to do help with basic tax calculations. Point to be consider while assessing tax of partnership. New income tax slabs for ay 1415 for resident senior citizens above 60 years. No more sending itrv by post after income tax filing. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt, commodities transaction tax. However, there are few changes to this budget when it comes to tax slabs. Union budget 201516 and 201415 have not altered the rebate available under section 87a for fy 201516, 201415 or ay 201617, 201516 meaning thereby that effectively there will be no income tax. How income tax structure, slabs in budgets over last 4 assessment years changed during pm modi regime. Income tax slab for fy 202021 pdf download income tax. You have blocked the notification on recent updates. Income tax slabs income tax rates fy 201415 av 201516.
Budget 2015new tax slabs and rates for fy 201516 ay. Income tax is imposed on the basis of ability to pay. There has been no change in the tax rates, basic income tax exemption limit or tax slabs for individuals, huf, aop and boi, the income tax. Incometax slab rates for individual for fy 201617 ay.
Tax slabs for financial year 201415 or assessment year 201516. Various examples of calculation of income tax learn. Many of you already know the budget implications on your finance. But the tax slabs have not been changed for the last few years. How income tax structure, slabs in budgets over last 4. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. Income tax slab rates change every year after the announcement of budget. Latest income tax slabs and rates for fy 201516 and ay 201617.
As there was no change in income tax slabs for fy 201516 i. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt. Income tax slab rate for ay 202122 for individuals opting for old tax regime. Income tax slab rates for last 25 years in india 199293. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in.
Income tax slabs for financial year 201415 and analysis. Tax slab for financial year 201516 assessment year 1617. Tax calculators make use of information related to your income, deductions and hra exemption to. This year as well, the indian finance minister nirmala sitharaman announced. Income tax slabs and rates for assessment year 201516. Download income tax return forms for assessment year 201516 itr 1 sahaj, itr 2, itr 3, itr 4s sugam, itr 4, itr 5, itr 6 or itr 7. Availabilityincome tax rebate section 87a fy 201415 ay. Income tax return forms itr 1 itr 2 and 4s simplified. The latest free income tax calculator to calculate your latest tax and to compare your tax savings. The age of the individual is the factor to divide the slab rates in the income tax table. Income tax slab rates for salaried class in pakistan 202021. Fill up the relevant details to know your tax liability for fy 201516 income tax slabs for fy 201516 ay 201617 general public income tax slab education cess of 3% surcharge of 12% on rs 1 crore plus. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617.