Income tax slab for fy 2015-16 ay 2016-17 pdf

Incometax slab rates for individual for fy 201516 ay. 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. Get income tax slab rates and income tax deductions in india for assessment year ay 2016 17. Income tax slabs for fy 201617 ay 201718 for firms. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no. 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 amount of rebate is 100 per cent of income tax or rs.

Income tax slab rates ay 201920, fy 201819, income tax. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. Itr 1 sahaj download for ay 201617 who can use itr 1. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. This rate will continue to be the same as that specified for financial year 201516. Knowing your income tax slab rate helps you get an idea of how much tax you will be paying in a year. However it has increased the surcharge from 12% to 15% applicable for income above rs 1 crore. It helps to determine the income tax rate at which you will be taxed in india. Income tax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. Every year the income tax rates are changed and it is important to get the latest income tax rates. Income tax is levied on different sources of incomes like salaries, investment, interest etc. Income tax slabs for financial year 201718 assessment year 1718. 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.

Latest income tax slabs and rates for fy 201516 and ay 201617. Apr 10, 2018 income tax slab rates for individual for fy 2015 16 ay 2016 17 steps to file your indian income tax return quickly with revise correct your income tax return. Ay 201617, the following rates were also applicable for fy 201415 ay 201516 latest. The tax slabs have remain unchanged but there have been some changes in terms of transport allowance, medical insurance benefits and exemption for physically challenged tax payers. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge. Mar 04, 2015 income tax rates for fy 2015 16 changes on 28 february budget dayincome tax rates for financil year 2015 16income tax rates for fy 2015 16income tax rates for ay 2016 17income tax rates for assessment year 2016 17 finance minister mr. Add surcharge surcharge is 10% of income tax rebate us 88e is not available w.

Incometax slab rates for individual for fy 201516 ay 201617. The tax slabs have remain unchanged but there have been some changes in terms of transport allowance, medical insurance benefits and exemption for physically challenged tax. Standard deduction of rs 40,000 allowed for salaried persons pensioners. Income tax slabs income tax rates and deductions for fy. My next question is that how should be calculated the income tax for current year. Apr 14, 2020 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. How income tax structure, slabs in budgets over last 4. Income tax calculator for fy 201516 ay 201617 excel based the union budget for 2015 was presented today by arun jaitely.

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 slab rates fy 201516 alternative minimum tax amt alternative minimum tax is applicable on all persons other than companies. Apr 09, 2015 tax saving guide for fy 2015 16 ay 2016 17 1. 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 201718. The above income tax rates are for general category men women who are below 60 years of age. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. 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.

Tax reckoner 201617 the rates are applicable for the financial. 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. The surcharge will be applicable if the income exceeds rs. Rates of income tax in respect of income liable to tax for the financial year 20152016 assessment year 20162017. Mar 19, 2019 download income tax slab for ay 201617 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 201617. There is no change in the basic tax rate and exemption limit for individual, hindu undivided family, association of person, body of individuals and artificial juridical person in assessment year 201617 in comparison to a. But the tax slabs have not been changed for the last few years. Ay 2016 17, the following rates were also applicable for fy 201415 ay 2015 16 latest income tax slabs in india fy 2016 17 or as 201718. Finance minister has presented budget 201516 on 28022015. Hence this provision continues for ay 2016 17 as well. Income tax slab rates for individual for fy 201617 ay 201718. Revised incometax exemption limit fy201516 individual budget.

We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Income tax slab rates for financial year 201516 assessment year201617. Here is a primer on income tax slab rates for ay 201617 fy 201516. Normal rates of tax applicable to all individuals who are less than 60 years of age. Aug 14, 2019 indian finance minister, shri arun jaitley has tabled today, the union general budget 2016 17 in the parliament. Income tax at a glance among direct taxes, income tax is the main source of revenue. Income tax slab for filing tax return on income in india. As there was no change in income tax slabs for fy 201516 i. Calculate taxable income, income tax, cess, surcharge and marginal relief foray 202021 and ay 202122. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay. 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 slabs and rates for fy 201516 or ay. There is no change in tax rates for the financial year 201819. Applicable income tax rates investments in mutual fund schemes.

Income tax slabs ay 201011 fy 200910 income tax slabs ay 201112 fy 201011 income tax slabs ay 2012 fy 201112 income tax slabs ay 2014 fy 2012 income tax slabs ay 201415 fy 2014 income tax slabs ay 201516 fy 201415 income tax slabs ay 201617 fy 201516 income tax slabs ay 201718 fy 201617 income tax slabs ay 201819 fy 201718 income tax slabs ay 201920. Income tax slab rates for financial year 201516 assessment. For financial year 20152016, additional surcharge called the education cess on incometax and secondary and higher education cess on. Now my total income is rs 591684 including the arrears. Superrich individuals with an annual taxable income of over rs 1 crore have to pay surcharge of 15 per cent. Income tax slab rates are decided and governed by income tax act 1961 and are subject to change every year. Given below are the various tables for the latest income tax slabs for the fy. In union budget 202021, the news tax slab rate regime is optional and a taxpayer can choose to pay tax in the old. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 2015 16 for last fy 201415.

Income tax ratesslab for assessment year 201617 previous year 201516 income tax rates for financial year 201415 and 20152016 are same, there is. Free major itr forms for financial year 201415 itr1, itr2, itr2a, itr4s pdf files. To learn more about the income tax slabs ay 1819, click here. Incometax slab rates for individual for fy 201415 ay. Below are the income tax slab rates for fy 201617 or ay. Here are the income tax slab rates for the financial year 201516 relevant to assessment year 201617 income tax slab for individual tax. Income tax slabs for fy 201617 ay 201718 for local authorities. The national board of revenue nbr is the apex authority for tax administration in bangladesh. Income tax slab rates for individual for fy 201617 ay.

Arun jaitley presented the annual budget in lok sabha on 28 february 2015. Accounting entries of depreciation what is accrual. Income tax slabs and rates for fy 202021 bankbazaar. Quick excel income tax calculator for fy 201516 ay 201617. As there was no change in income tax slabs for fy 2015 16 i. Revised tds rate chart for fy 2015 16 ay 2016 17 after latest budget 2015 16 changes and amendments. Importance the first step to understand the workings of income tax in india is to be aware of the taxation slabs released each financial year by the indian government and various deductions defined under different sections of the income tax act, 1961. It is deductible from income tax before calculating education cess.

Earlier employer may collect such evidence which he deems fit to allow deduction or set off of house property income from salary income to employee,now department will. Income tax basic exemption limit slab fy 2015 16 click here. The rate of income tax in the case of every local authority is specified in paragraph d of part iii of the first schedule to the bill. Income tax is imposed on the basis of ability to pay.

Requirement for obtaining evidence particulars by employer for tdssection 192. Hence this provision continues for ay 201617 as well. Income tax slab rates for fy 201617 ay 201718 budget. Indian income tax slabs, rates, calculators, itr, challan, tds, pan and other forms in excel fillable pdf, information of i t actrules. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament.

Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. 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. Ay 201617, the following rates were also applicable for fy 201415 ay. Income tax slabs and rates for fy 202021 last updated. Income tax slab rates for individual for fy 201516 ay 201617 steps to file your indian income tax return quickly with revise correct your income tax return. My question is that this arrear should not be added in previous year. Get income tax slab rates and income tax deductions in india for assessment year ay 201617. Incometax slab rates for individual for fy 201718 ay. Latest income tax slabs and rates for fy 201516 and ay. 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. 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 slabs and rates for fy 2015 16 or ay 2016 17 are as under. Comparison of income tax slabs for fy 201718 and fy 201617. Tds rate chart fy 201516 ay 201617 budget 201516 amendments.

Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in. There are many queries related to itr 1 like itr 1 acknowledgement. Surcharge shall not exceed the amount of income that exceeds rs. Finance minister has presented budget 2015 16 on 2802 2015. Download income tax slab for ay 201617 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 201617. Income tax slab rates for individual for fy 201516 ay 201617 how to check income tax return status. In the case of firms, the rate of income tax has been specified in paragraph c of part iii of the first schedule to the bill. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. Below are the income tax slab rates for fy 2016 17 or ay 2017 18.

Here is a primer on income tax slab rates for ay 2016 17. All assessees are required to file income tax return each year if they have taxable income. Incometax slab rates for individual for fy 201617 ay. Cooperative societies, firms local authorities and llps. Income tax rate will continue to be applied at 30%. However cess on income tax increased to 4 % from existing 3 %. Jul 11, 2014 rs,my taxable income for fy 201415 was rs 3894. Income tax slab rates for individual for fy 2015 16 ay 2016 17. Income tax slabs income tax rates and deductions for fy 2017. Mar 15, 2019 quick excel income tax calculator for fy 2015 16 ay 2016 17.

Apr 06, 2015 minor changes has been made in tds rates for fy 201516 by finance minister in budget. The age of the individual is the factor to divide the slab rates in the income tax table. Incometax slab rates for individual for fy 201617 ay 2017. However transport allowance of rs 19,200 and medical allowance of rs 15,000 will not be available for.

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 income earners tax credit of rs 2,000 for income up to rs 5 lakhs us 87a there are no separate slab for male and female tax. Income tax slabs for fy 2016 17 budget 2015 has made no change in the income tax slab. With the help of quick excel income tax calculator for fy 2015 16 ay 2016 17 you can easily compute tax liability for an individual. Income tax slab rates in india ay 201617 fy 201516. We give below the income tax rates and slabs applicable for the fy 2015 16 or ay 2016 17. 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 age groups are up to age 60, age 60 to 80 and above age 80. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 2016 17 ay 201718. The budget 2016 did not witness any change in the tax slabs, but the modi sarkar lessened the burden on low income group by increasing the rebate us 87a from rs 2,000 to rs 5,000 and the super. Income tax archives page 8 of 31 caknowledge files. Ay is assessment year latest income tax rates for fy 201516.