Net income range income tax rates surcharge education cess upto rs. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or. Income tax income tax rates ay 2012 fy 2011 referencer. Applicable tax rates in fy 2012 ay 2014 for individuals april 22, 20 by alok patnia 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. Special rates long term capital gains a on equity shares and units. Net income range income tax rates surcharge education cess upto. Official website of association of retired teachers, farook college. Dividend distribution tax rate are same in last four years. Income tax slab rates for last 25 years in india 199293 to.
Fintotal knowledge income tax slabs financial year 2012. The normal tax rates applicable to a resident individual will depend on the age of the individual. Income tax rates income tax slabs for assessment year 2012. Tax rates are for assessment year 2012, assessment year 201112, assessment year 201011,ay 200910. The language is simplified and written specially for. Changes in income tax slabs for individuals over last five assessment years. 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. 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. For individuals, huf, association of persons aop and body of individuals boi. New income tax slabs for ay 2014 for resident senior citizens above 60 years fy 2012 s. The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. There used to be surcharge of 10% on income tax calculated up to ay 200910.
Personal income tax slab changes recommended by the direct tax committee. Please note that the income of financial year 201220 is taxable at the tax rate applicable for assessment year 202014. Income tax slab rates for financial year 2014 assessment. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. Income tax slab tells the tax rate at which you have to pay tax on income.
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. Latest income tax slabs rates for fy 2012 and as 2014. There are lot of changes in tax rates and cess in the last 25 years. Income tax rates slabs for the financial year 20112012 a.
However, tax rate is 25% if turnover or gross receipt of the company does not exceed rs. Income tax rates for financial year 2012 and ay 2014. The amount of incometax shall be increased by education cess on income tax at the rate of two per cent of the incometax. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2.
Apr 25, 2020 news about income tax slabs and rates. This category is abolished from this year and is thus is same as that of. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. This is the income tax slabs for financial year 2012 and the analysis year 2014. Income tax slab rates for financial year 2014 assessment year201415 resident super senior citizen who is 80 years or more at any time during the previous year.
Income tax rates slab for fy 201112 or ay 2012 ebizfiling. Income tax slabs for assessment year 2014 financial. Matminimum alternate tax rate has been increased in last four years. Is the total income income after deductions of resident individual less than rs 5 lakhs. The amount of income tax shall be increased by education cess on income tax at the rate of two percent of the income tax. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. According to the committee, the current personal income tax slabs need to be overhauled. Latest income tax slabs and rates for fy 2012 and as 2012. Rate of tax for individuals for financial year 2012 is as follows. Applicable to individual male below the age of 60 years and huf. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by.
Income tax department income tax return statistics assessment. 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. The latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. Income tax slab rates for last 25 years in india 199293. Rate % small pro ts rate 0 300,000 20 0 300,000 20 marginal. Income tax slab rates for financial year 201516 assessment year201617 resident super senior citizen who is 80 years or more at any time during the previous year. Another significant change in this budget was abolishing lower tax slab for women. In addition to income tax, 2% of educational cess and 1% of secondary higher educational cess is also payable on income tax calculated rounded off to nearest tens. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Detailed article on the income tax slabs for fy 201112 and ay 2012. The following income tax rates are applicable for the financial year ending march 31, 2016 i.
Income tax slabs for assessment year 2014 financial year 201220 india income tax slabs for. 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. Income tax slab rates for ay 20142015 and fy 202014. For resident woman who is below 65 years of age at any time during the previous year. Income tax slab rates for ay 20142015 and financial year 2014 income tax slabs and rates are changed almost every year. 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 the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012.
Income tax slabs for fy 2012 20 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. Income tax slabs financial year 2012 get updates on smart money managing tips. Income tax ratesincome tax slab for assessment year 202021 previous year. 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. As per the report, changes have been suggested in the current direct tax system. Let us help you manage your money in a affordable rate. In india, to keep parity between the income by different class of people and tax paid, an income tax slab is issued with different rates of taxation for different income group. Oct 12, 2012 there will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014.
Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. We have provided the latest income tax slabs for financial year 2014 or assessment year 201415. Income tax department income tax return statistics. Income tax slabs for assessment year 2014 financial year. The national board of revenue nbr is the apex authority for tax administration in bangladesh. Latest income tax slabs and rates for fy 2012 and as 2014.
Tax levied as per predecided percentage on the net taxable income which needs to be deposited at the end of department. Income tax slab rates for financial year 201516 assessment. 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. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no.
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. Income tax rates income tax slabs for ay 2012 individuals and hufs. Income tax is one thing which every salaried man on the street is interested in. 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.
Income tax ratesslabs for financial year 201112 assessment. Individuals other than those specified in ii, iii, iv below. However, in case of a nonresident individual the tax rates will be same irrespective of his age. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. Income tax slab rate for ay 201819 for individuals. Income tax rates applicable for the financial year fy 2012 and assessment. Representatives of assamas tea industry have launched an appeal to the centre in hopes of convincing them to maintain the gst slab of tea below the concessional rate of 5 per cent. Income tax slabs and rates for fy 202021 bankbazaar. Income tax slabs for fy 201220 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. To learn more about the income tax slabs ay 1819, click here. Basic rates for companies are same,however surcharge has been reduced to 5 % from 10%.
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. In case of individual other than ii, iii and iv below and huf. Have a look at the past 25 years income tax slab rates for individuals in india. Fintotal knowledge the best place to learn more on personal finance. The amount of incometax shall be increased by education cess on income tax at the rate of two percent of the incometax. Tax slab for financial year 201516 assessment year 1617. Income tax slab for filing tax return on income in india. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. 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.
Nov 21, 2010 tax rates as applicable for different persons for the a. What is income tax, income tax slab for fy 201718, e. India income tax slabs for assessment year 2012 financial year 20112012 general tax payers. Tax slab for fy 201011 ay 201112 particulars slab tax rate women assesses up to 1,90,000 nil. Assam tea industry urges centre to keep gst slab under 5%. Income tax rates for assessment year 202014 previous year 2012. Tax rates as applicable for different persons for the a. Income tax ratesslab for assesment year rate % 201112 f y 201011 up to 1,60,000 up to 1,90,000 for women nil up to 2,40,000 for resident individual of 65 years or above 1,60,001 5,00,000 10 5,00,001 8,00,000 20 8,00,001 upwards 30 few. Changes in income tax slabs for individuals over last five. Tax slab for financial year 201415 assessment year 1516 for men below 60 years of age. 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. Senior citizens aged 60 years but less than 80 years at any time during the previous year. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012 education cess on income tax. Mar 16, 2012 the good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today.
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