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 2016. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. Incometax slab rates for individual for fy 201617 ay 2017. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. Income tax deduction 80c ay 201617 income tax deduction 80gg ay 201617 income tax deduction 80tta ay 201617 pricing. This calculator is exclusively designed for bank employees based on the 10th bipartite settlement with additional calculation of income tax on arrears. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 2016 17 ay 201718. Income tax slab rates 201718 pdf download ay 201819.
Quick excel income tax calculator for fy 201516 ay 201617. Latest income tax slab rates for fy 201819 hdfc life. 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 net income range. Income tax slab for fy 201516 ay 201617 there is no change in income tax slabs except additional 2% increase in cess for super rich i.
Income tax slab for individuals, senior citizens, hufaop, etc. Indian finance minister, shri arun jaitley has tabled today, the union general budget 2016 17 in the parliament. 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. Net income range incometax rates health and education cess up to rs. Mar 19, 2019 download income tax slab for ay 201617 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 201617. In the following sections we will discuss the income tax rates for fy 20182019 ay 20192020 and some other key features of income tax in india. However, in case of a nonresident individual the tax rates will be same irrespective of his age. Apr 10, 2018 income tax slab rates for individual for fy 201516 ay 2016 17 steps to file your indian income tax return quickly with revise correct your income tax return. So, refer the above table for the local authorities surcharges.
Get income tax slab rates and income tax deductions in india for assessment year ay 201617. The rates are applicable for the financial year 201617 ay. Download income tax calculator ay 201617 in excel income tax calculator for financial year 201516, ay 201617 have been created in excel format for free download. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. As the slab rates are not fixed we have provided the income tax calculator for each assessment financial year separately. Ay is assessment year latest income tax rates for fy 201516. Ay 2016 17, the following rates were also applicable for fy 201415 ay 201516. Here is a primer on income tax slab rates for ay 2016 17. For income tax purpose citizens above age of 60 are considered as senior citizens and above age of 80 are considered very senior citizens. The rates are applicable for the financial year 201617. The surcharge will be applicable if the income exceeds rs. See below income tax slab rates for individual resident aged below 60 years, senior citizen, super senior citizen. Incometax slab rates for individual for fy 201516 ay.
Oct 14, 2019 the new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2014 to march 31, 2015. Income tax department has issued the income tax return for fy 201617 i. At hdfc life, we ensure that our customers are wellinformed about the latest income tax slab rates in india as well as the tax benefits relevant to life insurance policies for the financial year 201819. Certain income of nonresident, interalia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the income tax act or as per the rates prescribed under the dtaas, whichever is more beneficial to such nonresident. Incometax slab rates for individual for fy 201617 ay.
However, under old tax regime the basic income threshold exempt from tax for senior citizen aged 60 to 80 years and. The income tax act 1961 is the law that governs the provisions for our income tax. Income tax rates for financial year 201617 taxmann. 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. Find out the income tax slab rate for ay 201718 here. Income tax slab rates for individual for fy 201516 ay 2016 17 steps to file your indian income tax return quickly with revise correct your income tax return. Rates for deduction of incometax at source from salaries, computation of advance tax and charging of incometax in special cases during the financial year. Today we are providing income tax slab rates for assessment year 201617. Income tax slab rates for individual for fy 2016 17 ay 201718. You can complete filing your income tax return in just 15 minutes using the website or the.
For the assessment year 2016 17, a partnership firm including llp is taxable at 30%. Certain income of nonresident, interalia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the. Income tax slab rates for financial year 201516 assessment. Income tax rate chart income tax slabs as applicable for assessment year 201718 financial year 201617 for individual, huf, aop, boi, partnership firms, llp and companies. Today we are providing income tax slab rates for assessment year 2016 17. The above income tax rates are for general category men women who are below 60 years of age. Below are the income tax slab rates for fy 2016 17 or ay 2017 18. However, under old tax regime the basic income threshold exempt from tax for senior citizen aged 60 to 80 years and super senior citizens aged above 80 years is. No changes have been made to the existing income tax. In order to gain tax benefits to the fullest, it is essential to understand the current income tax slab rates. This rate will continue to be the same as that specified for the financial year 201516.
As there was no change in income tax slabs for fy 201516 i. Articles explains rates of income tax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt, commodities transaction tax ctt and dividend distribution tax ddt rates for financial year 201516 i. Income tax at a glance among direct taxes, income tax is the main source of revenue. The income tax rates are usually revised every year during the budget.
Income tax slab rates for individual for fy 201516 ay 2016 17 tax expert. The tax rates mentioned above are those provided in the income tax act, 1961 and as amended by the finance act 2016, are applicable for the financial year 201617 relevant to assessment. Incometax slab rates for individual for fy 201516 ay 201617. Following are the income tax slab rates and deductions for different categories of. New tax regime slab rates are not differentiated based on age group. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. Highest tax rate including surcharge has come down from 56% in fy 199091 to 30. In the financial bill of 2015, it was proposed that corporate tax rate will be reduced to 25% over a period of four financial years.
Income tax slab rates for fy 201617 ay 201718 budget. Thus for domestic companies tax slab for fy 2016 17 will be. However, under new tax regime person cannot claim up to 70 income tax. We give below the income tax rates and slabs applicable for the fy 201516 or ay 2016 17. Income tax deduction 80tta ay 201718 tax deductions ay 201617. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Income tax slabs for fy 2016 17 ay 201718 for local authorities. The rate of income tax in the case of every local authority is specified in paragraph d of part iii of the first schedule to the bill. But the surcharges are varied depending on the income. The exemption limit for income tax has also increased more than 10 times from rs. In the event of any change, we do not assume any responsibility to update the tax rates consequent to such changes.
The income tax slab is remain unchanged in this financial year. Income tax is imposed on the basis of ability to pay. Based on the annual income earned by an individual, the following table shows different income tax rates applicable in india. Income tax slab rates for ay 201617 local authorities. Aug 14, 2019 indian finance minister, shri arun jaitley has tabled today, the union general budget 2016 17 in the parliament. The more a taxpayer earns the more he should pay is the basic principle of charging income tax.
Income tax slab rates for ay 2016 17 video youtube. Income tax rate chart income tax slabs as applicable for assessment year 201718 financial year 201617 for individual, huf, aop, boi, partnership firms, llp and. More number of taxpayers are brought under surcharge with this move of making surcharge applicable to the slab of income between rs. Download income tax slab for ay 201617 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 201617. The amount of incometax shall be increased by a surcharge at the. Various deductions that are allowed to a taxpayer under section 80c, section 80d etc. Get income tax slab rates and income tax deductions in india for assessment year ay 2016 17. Tds rates for ay 202021 for salary wage and other payments to nonresident payees.
Arun jaitley, 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 thursday, july 10, 2014 in new delhi. Income tax slab rates for individual for fy 201415 ay 201516. See below income tax slab rates for individual resident aged below 60 years, senior citizen, super senior citizen, any nri huf aop boi ajp, cooperative society, firm, local authority, domestic company and other company for assessment year ay 2016 17. The amount of income tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. Importance the first step to understand the workings of income tax in india is to be aware of the taxation slabs released each financial year by the indian government and various deductions defined under different sections of the income tax act, 1961. Mar 01, 2016 download income tax calculator ay 201617 in excel income tax calculator for financial year 201516, ay 201617 have been created in excel format for free download. Download income tax slab for ay 2016 17 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 2016 17. Tax slab ay 201617 individualhufboiaopajp india itr. Apr 14, 2020 income tax slabs ay 201415 fy 2014 income tax slabs ay 201516 fy 201415 income tax slabs ay 2016 17 fy 201516 income tax slabs ay 201718 fy 2016 17 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. The tax rates mentioned above are those provided in the income tax act, 1961 and as amended by the finance act 2016, are applicable for the financial year 2016 17 relevant to assessment year 201718.
Income tax slab rates for ay 201617 local authorities local authorities are taxable at a rate of 30%. The new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2014 to march 31, 2015. 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. The normal tax rates applicable to a resident individual will depend on the age of the individual. Incometax slab rates for individualhuf for fy 201819 ay 201920 incometax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. Feb 22, 2017 as the slab rates are not fixed we have provided the income tax calculator for each assessment financial year separately. Latest income tax slabs and rates for fy 201516 and ay 201617.
This article provide quick excel income tax calculator for fy 201516 ay 201617 for individual resident whose age is below than 60 years i. Income tax slab rates specify the threshold annual income limits at which a higher or lower rate of tax is applicable. Government of india income tax slab rates for ay 20152016. At hdfc life, we ensure that our customers are wellinformed about the.
For financial year 201617 department has merged the different itr and numbering of itr has been changed and after read more. Surcharge and education cess see note income tax slab rates 201718 pdf download. For the assessment year 201617, a partnership firm including llp is taxable at 30%. Income tax slabs rates for non resident individual, firm and corporate tax payers for ay 202021 and ay 202122. Latest income tax slabs and rates for fy 201516 and ay. However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. But the tax slabs have not been changed for the last few years.