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. Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. 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. Latest income tax slabs in india fy 201617 or as 201718. Income tax slab for financial year 2012 assessment year 20 14 tax man women senior citizen rate in rupees in rupees in rupees 1 0 00 upto 2 00 000 upto 2 00 000 upto 2 50 000 2 10 00 2 00 001 to 5 00 000 2 00 001 to 5 00 000 2 50 001 to 5 00 000 3 20 00 5 00 001 to 10 00 000 5 00. Income tax slab of last 20 years from ay 20012002 to ay.
Income tax slabs from 200001 to 2012 employeesforum. Income tax slabs and rates for fy 202021 bankbazaar. This is the income tax slabs for financial year 2012 and the analysis year 2014. 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. In india, we have a progressive method of taxation, this means the more your income is the more tax you will. Income tax rate applicable to local authority for ay 2021. Income tax is one thing which every salaried man on the street is interested in. Every year the income tax rates are changed by the government and every year government charged tax on the new tax slab or on the latest tax slabs. Have a look at the past 25 years income tax slab rates for individuals in india. Latest income tax slabs rates for fy 2012 and as 2014.
Other deduction from income under income tax fy 1112. As per the report, changes have been suggested in the current direct tax system. Income tax rates slabs for the financial year 20112012 a. Income tax rates income tax slabs for ay 2012 individuals and hufs.
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. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. Now both men and women would have same income tax slabs. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. Income tax rates for financial year 2012 and ay 2014. Income tax slabs for last 10 years income tax slab for financial year 2012. Income tax would be at a flat rate of 30 percent for the ay 2012 fy 201112 add. Income tax slab rates for the last 7 years yash shindes. According to the committee, the current personal income tax slabs need to be overhauled. The amount of income tax shall be further increased by education cess of 3% on income tax. Given below are the various tables for the latest income tax slabs for the fy 20202021. Individual resident or nonresident, who is of the age of less than 60 years on the last day of the relevant previous year. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below.
For normal category the simple calculation is as follows. Tax rates for financial year 2012 assessment year 2014. The table shows the tax rates you pay in each band if you have a standard personal allowance of. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Lets first understand what is income tax slab in india. Read our guide to know the old income tax slabs, rates, brackets or percentage for last 10 fys of companies in india. Income tax slab rates for last 25 years in india 199293 to. Apr 14, 2020 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. 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. The following income tax rates are applicable for the financial year ending march 31, 2016 i.
Income tax slab for financial year 2012 assessment year 2014 tax man women senior. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. Income tax slab of last 20 years from ay 20012002 to ay 20212022. New income tax slab for financial year 201718 mytaxcafe.
The slides show tax slabs for general tax payers age below 60 years, female tax payers age below 60 years, senior citizens age between 60 to 80 years and super senior citizens age above 80 years. The amount of rebate is 100 per cent of income tax or rs. You must check out the difference between the 1992 i. 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. In case income is more than rs 1 crore, a surcharge of 12% is applicable on the income tax amount. Income tax slab rates 201819 pdf download ay 201920.
The amount of income tax 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. Income tax slabs for assessment year 2014 financial year 201220 india income tax slabs for. Find the income tax slab rates for the last 7 years all at one place 1 f. The income tax rates and slabs applicable for the financial year 2014 are same as it was during financial year 2012, except the two major changes which was given below. Income tax rates for assessment year 2012 resident senior citizens above 80 years super senior citizens taxable income slab rs. Income tax slab rates for financial year 201718 have not been changed much in budget 2017. Long term capital gains a on equity shares and units. Rates for deduction of incometax at source from salaries, computation of advance tax and charging of incometax in special cases during the financial year 20162017. Fy 2012, ay 2014 normal rates of tax for male where the total income does not exceeds to rs.
Advance tax company calculator for ay 2012 income tax. 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. Assessment year 2012, relevant to financial year 201112. Assessment year 2012 , relevant to financial year 201112. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Nonresident individualhuf net income range income tax rates health and education cess up to rs. 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. Income tax slabs income tax rates and deductions for fy. Income tax slabs for assessment year 2014 financial. It is deductible from income tax before calculating education cess. 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. For individuals below 60 years age, other than woman assessees. There are lot of changes in tax rates and cess in the last 25 years.
Dec 16, 2019 income tax slab rate for fy 2012 pdf income tax rates. Taxpayers will also receive a significant relief if the current tax slab of 10% is extended to rs. Latest income tax slabs in india fy 201617 or as 201718 income range. Income tax rates for individuals,hufs,for woman,senior citizen,cooperative society,firm, income tax rates for fy 2012 and ay 2014. A health and education cess of 4% will be added to the total tax outgo besides a surcharge if your income crosses. A quick look at income tax slabs in india for financial year 201220 and tax assessment year 202014. Income tax rates for assessment year 2014 for resident senior citizen of 60 years or more but below the age of 80 years at any time during the previous year. Women below 60 years of age this category is abolished from this year and is thus is same as that of general. With the union budget 2020 approaching, a report has been prepared by the central direct tax committee. Below are the income tax slab rates for fy 201617 or ay 2017 18. Latest income tax slabs and rates for fy 2012 and as 2012. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. 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. Mar 16, 2012 now people would be able to save upto rs.
Hdfc life provides the latest income tax rates in india for different age groups and tax benefits offered by various life insurance policies, for the current financial year 201617 save tax with hdfc lifes various online insurance products. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 2014. These tax rates are based on the range of income called income slabs. Jun 04, 2011 for local authorities, income is taxed at a flat rate of 30%. Oct 14, 2019 the new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2012 to march 31, 20. Income tax slab rates for fy 201617 ay 201718 budget. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. For the assessment year 2021 the local authority will be taxed at 30 percent. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. Income tax slab rate for ay 202122 for individuals opting for old tax regime.
Applicable to individual male below the age of 60 years and huf. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Get income tax slab rates and income tax deductions in india for assessment year ay 201617. Personal income tax slab changes recommended by the direct tax committee. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. The tax slabs tend to undergo a change during every budget. Income tax department income tax return statistics. Here is a primer on income tax slab rates for ay 201617. Latest income tax slabs and rates for fy 2012 and as 2014. Oct 12, 2012 there will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows.
Latest income tax slabs and rates for fy 2012 and as. Income tax rates slab for fy 201112 or ay 2012 ebizfiling. Long term capital gain arising on transfer of equity shares in a recognized stock exchange in india or units of an equity oriented mutual fund if 65% of total proceeds of the fund are invested in equity shares, and on which securities transaction tax is chargeable. Latest income tax slab rates fy 201920 ay 202021 budget.
Income tax slab rates 201920 pdf download ay 202021. Assessment year 2014, relevant to financial year 2012. In case of individual other than ii, iii and iv below and huf. 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 resident and nonresident assessees. 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. Another significant change in this budget was abolishing lower tax slab for women. For individuals below 60 years age including woman assessees. 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 30% b. How your income tax has changed over the last 9 years in budget 2010, income tax slabs were changed. Taxable income in 10% slab maximum tax will be rs 32000. Income tax slab rate for ay 201819 for individuals. Income tax slab rates for last 25 years in india 199293.
The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. India income tax slabs for assessment year 2012 financial year 20112012 general tax payers. Income tax rates slab for fy 2012 or ay 2014 ebizfiling. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. How your income tax has changed over the last 9 years. Surcharge and education cess see note income tax slab rates 201819 pdf download. Please click on the links below to view the income tax also written shortly as i. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Rates of income tax for companies,firms,limited partnership firm and all other assesses for financial year 201011 is also given in the charts. Surcharge and education cess see note income tax slab rates 201920 pdf download. Increase of tax savings through infrastructure bonds may be allowed for up to rs. The finance minister has proposed to tax the super rich by increasing surcharge from 12% to 15% if the income earned is more than rs. Pranab mukherjee, the finance minister of india, announced the new personal income tax slab rates while presenting the union budget of india, also called the indian general budget, on friday, march 16, 2012 in new delhi. But the tax slabs have not been changed for the last few years.
Further tax slab for 20% has not extended from 8,00,000 to rs. Ay 2014 fy 2012 it is to be noted that in the financial yearthe slabs and tax rates were kept at the ry level as those in the previous financial year male below 60 years. 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. 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 surcharge etc from 1991 upto date. An education cess of 3% is payable on the tax, yielding effective tax rate of 30. In india, income tax is charged based on an individuals income. Income tax department income tax return statistics assessment. Here we present to you all income tax slab rates india for past 25 years.