Ay 201617, the following rates were also applicable for fy 201415 ay 201516. Given below are the various tables for the latest income tax slabs for the fy 20202021. As per the finance act, 2012, incometax rates applicable for assessment year 2014 financial year 2012 applicable to individual, huf. Now this year, it is expected that this upper limit may be changed to rs. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Concept of total income will be covered in latter post. As per the finance act, 2012, incometax rates applicable for assessment year 2014 financial year 2012 applicable to individual, huf, is as follows. Watch out this space on 28th february for all the latest details about the tax slabs. 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 rates for financial year 2012 and ay 2014. For local authorities, income is taxed at a flat rate of 30%. Income tax rates in india and comparison with other countries and exemption limits of all. Aug 11, 2011 income tax rates slabs ay 200910 individual huf boi aop the rates for assessment year 200910 is given in the table below. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 2014.
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 2. India income tax slabs for assessment year 2012 financial year 20112012 general tax payers income tax slab in rs. Income tax department income tax return statistics assessment year 2012 version 2. Income tax slab rate for the fy 201415 and assessment year 201516, rate chart of income tax after budget 2014. 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 slabs for the financial year 20112012 a. Income tax slabs for assessment year 2014 financial year. The new and revised income tax slabs and rates applicable for the fy 2012 and ay 2014. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. Taxable income in 10% slab maximum tax will be rs 32000. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. The target for re generation year 2012 has been taken as per the mnre report on renewable energy in india. This is the income tax slabs for financial year 2012 and the analysis year 2014. From 2012, women were also a part of the general slab. Incometax slab rates for individual for fy 201516 ay. Jul 21, 2008 tax rates as applicable for different persons for the a.
There have been talks of change in income tax slabs for next financial year i. Income tax slabs and rates for fy 202021 bankbazaar. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Oct 12, 2012 rates of incometax as per finance act, 2012. As there was no change in income tax slabs for fy 201516 i. So, there will be an additional saving of rs 22000 in tax if your taxable income is rs 10, 00,000 as compared to previous year. The 20% slab has been expanded and its limit has been moved up from 8 lakhs to 10 lakhs. The amount of incometax shall be increased by education cess on income tax at the rate of two per cent of the incometax. Every year the income tax rates are changed and it is important to get the latest income tax rates. In order to promote public education and public safety, equal justice for all, a better informed citizenry, the rule of law, world trade and world peace, this legal document is hereby made available on a noncommercial basis, as it is the right of all humans to know and speak the laws that govern them. 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. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. Latest income tax slabs rates for fy 2012 and as 2014.
For resident woman who is below 65 years of age at any time during the previous year. For normal category the simple calculation is as follows. 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. The forbearance price and the floor price under the rec framework proposed to be determined based on the following principles. Income tax slab rates for financial year 201516 assessment. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Income tax slab rates from ay 199293 to ay 201516 download income tax calculator for a. A individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year income tax slab rates a. Income tax income tax rates ay 2012 fy 2011 referencer. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. Income tax slab from assessment year 20012002 to a. Latest income tax slabs and rates for fy 2012 and as. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below.
An education cess of 3% is payable on the tax, yielding effective tax rate of 30. Applicable to individual male below the age of 60 years and huf. The variable rates should generally be paid down first in the event of rising rates, since these will be affected the. Latest income tax slabs in india fy 201617 or as 201718. Latest income tax slabs and rates for fy 2012 and as 2014. These provisions shall apply to all categories unless specified otherwise and are integral part of the rate schedule. Net income range income tax rates surcharge education cess upto rs. I have deducted professional tax from payment of salry pertaining to january2019, while paying salry of january2019, on 10. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 2014. Income tax rates applicable for the financial year fy 2012 and assessment year ay. Income tax rates applicable for the financial year fy 2012 and assessment. Income tax rates slab for fy 2012 or ay 2014 ebizfiling.
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