Download it slabs from fy 200809 to fy 201516 file in pdf. Fintotal knowledge income tax slabs financial year 2012. A comparative analysis of income tax calculation for fy 202021 ay 202122 under the existing tax slab and the new income tax slabs introduced in budget 2020 can be understood by comparing taxable income under both scenarios. Income tax rates applicable for the financial year fy 2012 and assessment. Assessment year ay 2012 income tax slabs 20112012 for general tax payers income tax slab in rs. 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. There have been talks of change in income tax slabs for next financial year i. For individuals below 60 years age, other than woman assessees.
Income tax slabs and tax rates in india for fy 202021. Income tax rates income tax slabs bihar chamber of commerce. Now itr5 and itr6 has also been released in paper form. Apr 10, 2018 income tax slab rates for individualhuf for fy 201819 ay 201920 income tax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. Incometax slab rates for individual for fy 201617 ay 2017. The following income tax slabs are applicable for the financial year 201819 i.
The amount of income tax shall be further increased by education cess of 3% on income tax. Looking for the income tax slabs and rates for the financial year 201112 or assessment year 2012. Tax deduction for physically disabled persons income tax. Now both men and women would have same income tax slabs. 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 income tax slab fy 1920 is a set of predetermined rates based on which a taxpayers income is assessed. Latest income tax slabs and rates for fy 2012 and as. Income tax slabs for fy 2012 , what are income tax rates for individuals, hufs, firms and corporate. There is no change in the income tax slabs for the common citizen but union budget has introduced savings from home loans and more tax on the super rich. Jan 20, 2020 the new tax slab rate was rxte but changes are not of much significant. Under the exisitng tax regime, the basic tax exemption limit for an individual depends on their age and residential status. For normal category the simple calculation is as follows. Apr 14, 2020 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 male and female resident taxpayers.
Here is the ready reckoner of inomce tax slabs for the financial year 2014 which will help you while filing tax. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. Income tax rates slab for fy 2012 or ay 2014 ebizfiling. Income tax slabs financial year 2014 rgess eligible nsebse shares list.
The revised income tax slabs and rates for financial year 201920 the interim budget for 2019 was recently announced on 1 february 2019. Another significant change in this budget was abolishing lower tax slab for women. Detailed article on the income tax slabs for fy 2012 and ay 2014. Income tax slabs for fy 2012, what are income tax rates for individuals, hufs, firms and corporate. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Income tax rates for year 2014, 2012, 20112012, 20112011 for filing income tax. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or nonindividual. It offers special privileges for women professional tax payers. Oct 31, 2012 depreciation chart as per income tax act for fy 2012 and ay 2014. Taxpayers will also receive a significant relief if the current tax slab of 10% is extended to rs. I ndian income tax system follows income tax slabs for levying the tax on the income of an individual or. Increase of tax savings through infrastructure bonds may be allowed for up to rs. Now they have to find the ways which tax slabs they have to use. Income tax slabs fy 2012, ay 2014 in income tax finance minister pranab mukherjee increase the tax exemption limit from rs.
Incometax slab rates for individual for fy 201516 ay 2016. Replacement of existing personal income tax slab rates of 15% and 25% with new tax slab rates of 10%, 20% and 30%. Women below 60 years of age this category is abolished from this year and is thus is same as that of general. Assessment year 2012, relevant to financial year 201112.
Also, additional 20% tax is applicable on taxable income exceeding rs 2 million. Normal tax rates applicable to an individual the normal tax rates applicable to a resident individual will depend on the age of the individual. The amount of income tax shall be increased by education cess on income tax at the rate of two percent of the income tax. Oct 12, 2012 there will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014. For most of the assessee itr5 is required to be filed through efiling. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. Income tax department income tax return statistics assessment. Tax slab for financial year 201516 assessment year 1617. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. Given below are the latest income tax slabs applicable for financial year 202021 assessment year 202122 in the exisitng tax regime. 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 2012 ay 2014 2. Income tax is one thing which every salaried man on the street is interested in. 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 rates for financial year 201415 and 20152016 are same, there is no.
Depreciation chart as per income tax act for fy 2012. Deduction under section 80u of income tax act 1961 can be claimed by an individual who is a resident in india for the financial year relevant to the assessment year in which the person is taking the benefit. Income tax rates for ay 202021 get income tax slab rates for individuals, senior citizens, partnership firm, tax rates for companies, huf, aop, boi, cooperative society, etc. Income tax rates for fy financial year 201112 ay assessment year 2012 , for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Applicable to individual male below the age of 60 years and huf. In this budget, a full tax rebate was announced for all the tax paying assessees who have a taxable income of up to rs. Income tax slab rate for ay 202122 for individuals opting for old tax regime. Earlier individuals used to worry only about finding ways to tax and invest accordingly. These tax rates are based on the range of income called income slabs. Other deduction from income under income tax fy 1112.
Fm has announced a new income tax regime following which individuals will have to pay lower taxes for fy 202021 onwards as compared the current tax laws. 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. Jul 30, 2012 income tax return form for assessment year 2012 has been released by income tax department. Aug 31, 2011 income tax rates slabs for the financial year 20112012 a. 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. This year the honorable finance minsiter of india, piyush goyal has. Jan 24, 20 plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax.
For individuals below 60 years age including woman assessees. Assets are bifurcated in five classes as under for the purpose of depreciation as per income act. Individual resident or nonresident, who is of the age of less than 60 years on the last day of the relevant previous year. Tax deduction under section 80u can be claimed in addition to all other income tax deductions available under income tax act 1961 unless. Income tax rates slabs for the financial year 20112012 a. Income tax ratesslabs for financial year 201112 assessment.
Income tax slab rate for fy 2012 pdf income tax rates. Income tax rates, income tax slabs for assessment year 2012 by vishal vijay gupta and co. As proposed in the new tax regime, 70 tax exemptions will be removed but the income between rs 5 lakh and rs 7. Watch out this space on 28th february for all the latest details about the tax slabs. Concept of total income will be covered in latter post. Now this year, it is expected that this upper limit may be changed to rs.
Maharashtra professional tax slab rate, latest news. Income tax slab rates for individualhuf for fy 201819 ay 201920 income tax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. In india, income tax is charged based on an individuals income. Latest income tax slabs and rates for fy 2012 and as 2014. Latest income tax slab rates fy 202021 ay 202122 the government now confused individual taxpayers. Income tax rates for financial year 2012 and ay 2014. 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. 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. Income tax slab every year amendments are made to the income tax act by proposing a finance bill which directly decides the threshold limits for various tax rates. You have blocked the notification on recent updates. Income tax slab for filing tax return on income in india. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 201617 ay 201718. Latest income tax slabs and rates for fy 2012 and as 2012. Capital gain index for financial year 2012 is 852 section 48, explanation v of the income tax act, 1961 capital gains computation of notified cost inflation index for financial year 2012.
Income tax slabs for financial year 2014 goodreturns. Assessment year 2014, relevant to financial year 2012. Itr1 sahaj,itr2,itr3, itr4 and itr4s sugam has been released. Taxable income in 10% slab maximum tax will be rs 32000. 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. Mar 16, 2012 now people would be able to save upto rs. Mar 16, 2019 income tax slab rate for fy 2012 pdf income tax rates. 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. There is no change in tax structure for woman and senior citizens. Latest income tax slabs in india fy 201617 or as 201718 income range. The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. Income tax income tax rates ay 2012 fy 2011 referencer.
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. Reduction of threshold applicable for levy of capital gain tax from existing rs 3 million to rs 1 million in case of real estate transaction. Income tax slabs for filing tax return for individuals and hufs. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. A health and education cess of 4% will be added to the total tax outgo besides a surcharge if your income crosses.