Assessment year 201415, relevant to financial year 2014. For normal category the simple calculation is as follows. Hdfc life provides the latest income tax slab rates and deductions in india for tax. Latest income tax slabs and rates for fy 2012 and as.
The following it rates were applicable for the financial year ending march 31, 2014 financial year 2014assessment year 201415. The new income tax rates or income tax slabs are effective from april 01, 2012. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Income tax slab rate for assessment year 202014 tax. Income tax rates 20142015 for filing individual tax returns. Government of india income tax slab rates for ay 202014. Please note that the income of financial year 202014 is taxable at the tax rate applicable for assessment year 20142015. For senior citizens age 60 years or more but less than 80 years. Income tax rates for financial year 2012 and ay 2014. The tax slab for financial year 202014 is the same as that of financial year 201220. Tax slab for financial year 201516 assessment year 1617. What is income tax rates in india for financial year 2014.
The new income tax rates or income tax slabs are effective from april 01, 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. Income tax slabs for assessment year 2014 financial. Government of india income tax slab rates for ay 20142015. Before discussing about the recent changes made in the details to be given in the income tax return forms let us check out the most important. In addition an rebate of rs 2000 will be available for income less than rs 5 lakhs. As such if an individual including salaried employees with age less than 60 years and whose income was rs. It is the major source of revenue to the government. Senior citizen who is of the age of 60 years or more but below the age of 80 years at any time during the previous year. Government of india has increased the basic personal income tax exemption limit from rs. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows.
Income tax slab tells the tax rate at which you have to pay tax on income. For individuals below 60 years age including woman assessees. Add surcharge surcharge is 10% of incometax rebate us 88e is not available w. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. Rates of incometax fy 2014 ay 201415 as per finance act, 20 as per the finance act, 20, incometax is required to be deducted under section 192 of the act from income chargeable under the head salaries for the financial year 2014 i. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. For financial year 2014, additional surcharge called the education cess on incometax and secondary and higher education cess on incometax shall continue to be levied at the rate of two per cent. India income tax slabs for assessment year 20 14 financial year 2012 20 general tax payers income tax slab in rs. A in case of individual including women whose age is not more than sixty years. Incometax slab rates for individual for fy 201516 ay. Income tax rates financial year 2014 incometax slabs. This means its applicable for the income generated between 1st of april 2012 to 31st march 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. Please note that the income of financial year 201220 is taxable at the tax rate applicable for assessment year 202014.
Calculate tax liability for ay 2014 income slabs tax rates i. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Today we are discussing on income tax slab rate for assessment year 20 2014 of all form of business, reason behind discussion is that because the last date of filling belated return for f. Net income range rate of incometax assessment year 202122 assessment year 202021 up to rs. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. New income tax return forms 2014 assessment year return forms for assessment year 2014. 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. What are the slabs and exemptions for assessment year 201415 fy 2014. Proposed tax slab for financial year 14 assessment year 14 15 for men below 60 years of age. A quick look at income tax slabs in india for financial year 201220 and tax assessment year 202014. 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. The only benefit this financial year is there is a tax credit of rs 2000 for people having an annual income up to rs 5 lakh. The previous income tax slab for year 201220 can be found here income tax slabs 2012. Net income range rate of income tax assessment year 202122 assessment year 202021 up to rs.
Income tax slab for financial year 2014 ay 201415 finance minister p chidambaram presented the union budget on 28th february, 20. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. 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. There is no other benefit as compared to previous financial year. Normal rates of tax applicable to all individuals who are less than 60 years of age.
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 20 14. This is the income tax slabs for financial year 2012 and the analysis year 2014. Income tax at a glance among direct taxes, income tax is the main source of revenue. Income tax slabs for financial year 2014 goodreturns. Income tax is imposed on the basis of ability to pay. Previous year income tax rates for individuals tax2win.
Taxable income in 10% slab maximum tax will be rs 32000. 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. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 2014. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories. Income tax rates for fy financial year 2014 ay assessment year 201415,for individuals,men, women, senior citizens, hufs and other categories. Tax slab for financial year 201415 assessment year 1516 for men below 60 years of age for senior citizens age 60 years or more but less than 80 years.
What is the income tax slab rate for assessment year 202014. Income tax ratesslab for assessment year 201415 previous year 2014 rates %age. India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. The revised income tax slabs and rates for financial year 201920 the interim budget for 2019 was recently announced on 1 february 2019. Individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year i. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below.
Please click on the links below to view the income tax also written shortly as i. Tds calculation sheet in excel and slabs for fy 2014. Income tax structure 2014 assessment year 201415 budget highlights. Income tax slabs income tax rates fy 2014 av 201415. 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. General rate slab rate for individual resident aged below 60 yearsnri huf aop boi income slabs tax rates where the taxable income does not exceed rs. Tax slab for financial year 201220 file income tax. Different slab rates are mentioned in it act for different categories of persons and based on this a person is taxable under it act. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too.
Here are the slabs for the income tax for the income incurring in fy 202014. Please find given below the forms issued by income tax department for returns filing as per categories mentioned below. Who should file income tax return 2014 assessment year. 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 rate for individuals and house of undivided family huf for the f. Proposed tax slab for financial year 14 assessment year 1415. 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 fy 201819 income tax slab rates for ay 201011 fy 200910 resident male individuals aged less than 65 years. In this budget, a full tax rebate was announced for all the tax paying assessees who have a taxable income of up to rs. In the case of a person being an individual where the total income includes income chargeable to income tax, under the head. Income tax rates for the assessment year 2014 will be applicable to the financial year ending 31st march 20.