Income tax department income tax return statistics. Income tax rates for year 2014, 2012, 20112012, 20112011 for filing income tax returns in india for salaried and business income of individuals. Income tax slab for filing tax return on income in india. For normal category the simple calculation is as follows.
For income upto rs 2 lakh, the tax deduction will now be nil. Income tax rates slabs for the financial year 2011 2012 a. Use our free income tax calculator for getting an idea of how much tax you will be saving compared to last year per the latest tax rates. Increase of tax savings through infrastructure bonds may be allowed for up to rs. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as. Income tax rates for assessment year 199293 income slab rs.
Income tax department income tax return statistics assessment. Income tax slabs for assessment year 2014 financial year 201220 india income tax slabs for. Every citizen looks the different tax saving options to save tax or pay less tax, for that income tax slab as describes in this blog gives an idea to tax payers how much tax will be deducted as per the applicable slab rates. Apr 22, 20 the slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay 2012. From 2012, women were also a part of the general slab. 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. Please note that the income of financial year 2012 20 is taxable at the tax rate applicable for assessment year 202014. Income tax slabs and rate chart for ay 2014 fy 2012. Sum of salary income divided by total number of returns within the value range slab. Income tax slab 201718 ay 201819 budget 2017 from fy 201718, those with annual income between rs 50 lakh to rs 1 crore will be levied a surcharge of 10 per cent. Income tax is one thing which every salaried man on the street is interested in. Income tax rates for financial year 2012 and ay 2014.
This new tax system is optional and will coexist with the old one with three slabs and various exemptions and deductions available to the taxpayer. Income tax rates slabs for the financial year 20112012 a. This tax table based on the latest income tax slab is a ready reference for calculating your income tax for year 201112. Income tax slabs for assessment year 2014 financial year. Here is the ready reckoner of tax slabs for the financial year 2014 which. Jan 24, 20 plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 2014. The amount of income tax shall be increased by education cess on income tax at the rate of two percent of the income tax. The latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. Income tax slabs and rate chart for ay 2014 fy 2012 for 2012 20, the basic exemption limit is rs. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Income tax slabs income tax rates and deductions for fy 20.
There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Income tax income tax rates ay 2012 fy 2011 referencer. Quick highlights base slab for general tax payers increased to 1. For general tax payers including women income slab tax rate 0 to 2,50,000 no tax 2,50,001 to 5,00,000 10% 5,00,001 to 10,00,000 20% above 10,00,000.
Update 2 feb 28, 2011 income tax exemption limit for individuals raised from rs 1. Tax slab for financial year 201516 assessment year 1617. In the latest budget announcement on 16th march 2012, the financial minister, pranab mukherjee, announced raising the tax exemption limit from the curent level of rs 1. However, in case of a nonresident individual the tax rates will be same irrespective of his age. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Latest income tax slabs for fy 2011 2012 here are the latest slabs for the income tax for the income incurring in fy2011 2012. Choose your reason below and click on the report button. 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. May 05, 2011 in the fy 201112 ay 2012 age limit for senior citizen is reduced to 60years who will get additional basic exemption limit of rs.
Income tax slabs for assessment year 2014 financial. 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. For individuals below 60 years age, other than woman assessees. Latest income tax slabs for fy 20112012 here are the latest slabs for the income tax for the income incurring in fy20112012. Income tax slabs of last 12 years firms, partnership, companies, foreign company,income tax rates for individual,huf,boi,aop, cooperative societies by shankar bose inspector of incometax mstu, puri. Mar 16, 2012 every citizen looks the different tax saving options to save tax or pay less tax, for that income tax slab as describes in this blog gives an idea to tax payers how much tax will be deducted as per the applicable slab rates. This immensely popular guide provides an a to z of the complex law atx direct taxes in a simple and lucid manner. Mar 16, 2012 the good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. The income tax exemption limit has been increased to rs. All taxpayers range of house property income ay 2012. Every year the income tax rates are changed and it is important to get the latest income tax rates. Reorganizing the different income tax slabs and simplify overall tax.
The amount of income tax shall be increased by education cess on income tax at the rate of 2% percent of the income tax payable by both. These tables reflect announcements made between december 2011 and march 2012. The rates of tax and level of total income are as under. How your income tax has changed over the last 9 years. Income tax slabs for financial year 2014 goodreturns. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014. Hiv, mental illness coverage may not hike premiums sharply. Basic exemption for general taxpayers raised to rs 2 lakh.
Income tax slab tells the tax rate at which you have to pay tax on income. Please note that the income of financial year 201220 is taxable at the tax rate applicable for assessment year 202014. Ay 201617, the following rates were also applicable for fy 201415 ay 201516. For senior citizens age 60 years or more but less than 80 years. The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. Latest income tax slabs in india fy 201617 or as 201718. This is the income tax slabs for financial year 2012 and the analysis year 2014. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay 2012. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below.
Income tax ratesslabs for financial year 201112 assessment. Income tax slab rates 201819 pdf download ay 201920. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. This category is abolished from this year and is thus is same as that of.
India income tax slabs for assessment year 2012 financial year 2011 2012 general tax payers income tax slab in rs. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Find the income tax slab rates for the last 7 years all at one place 1 f. The amount of income tax shall be increased by education cess on income tax at the rate of two per cent of the income tax. 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. Income tax slab rates for the last 7 years yash shindes. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Last 25 years income tax rates linkedin slideshare.
The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income between 50 lakhs and one crore rupees above 1 crore 15% surcharge. Latest income tax slabs and rates for fy 2012 and as 2014. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Income tax circular 2014 circular, income tax 2012 amendment of income tax ordinance section 19. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax. Latest income tax slabs and rates for fy 2012 and as. There will be no surcharge on income tax payments by partnership firm and cooperative society while for domestic company surcharge will be 5% and anad 2% on foreign company for fy 2012 ay 2014. Surcharge and education cess see note income tax slab rates 201718 pdf download.
Income tax rates for assessment year 201112 all others male individuals, nris. Taxable income in 10% slab maximum tax will be rs 32000. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. 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. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. Latest income tax slabs rates for fy 2012 and as 2014. For more detail on these rates, see tables confirming tax and tax credit rates and thresholds for 2012 57kb pdf please note that the information here is derived from published. In the fy 201112 ay 2012 age limit for senior citizen is reduced to 60years who will get additional basic exemption limit of rs.
Based on the annual income earned by an individual, the following table. Additional surcharge on income tax secondary and higher education cess on income tax. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 2014. For more detail on these rates, see tables confirming tax and tax credit rates and thresholds for 2012 57kb pdf please note that the information here is derived from published government sources and may not be immune from errors. For those with an income between rs 25 lakh the tax deduction would be 10%.
As there was no change in income tax slabs for fy 201516 i. Fintotal knowledge income tax slabs financial year 2012. Income tax slab rates 201718 pdf download ay 201819. Rate % small pro ts rate 0 300,000 20 0 300,000 20 marginal. Net income range income tax rates health and education cess up to rs. Taxpayers will also receive a significant relief if the current tax slab of 10% is extended to rs. Paripatra2014 income tax paripatra income tax202014.
Income tax rates for assessment year 200304 income slab rs. Applicable to individual male below the age of 60 years and huf. Assessment year 2012 , relevant to financial year 201112. Slabs for income tax rates are divided in following categories. India income tax slabs for assessment year 2012 financial year 20112012 general tax payers. 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 5% of such income tax, provided that the total income exceeds rs. However, the surcharge shall be subject to marginal relief where. Income tax slab rates for last 25 years in india 199293. The normal tax rates applicable to a resident individual will depend on the age of the individual. The new income tax slab has come into effect from 1 april 2020. Heres how the income tax slabs, surcharges and deduction limits have changed over the past nine years 200910 basic exemption limit raised to rs 1. If a taxpayer opts for the new regime, then his income will be taxed as per the following tax slabs and rates. Income tax slab rates for last 25 years in india 199293 to.
Mar 16, 2012 update 2 feb 28, 2011 income tax exemption limit for individuals raised from rs 1. New income tax slabs for 201011, 201112, update 2012. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax. The amount of incometax shall be increased by education cess on. Income tax slabs financial year 2014 rgess eligible nsebse shares list.
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