Income tax rates for financial year 2012 and ay 2014. 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. Oct 12, 2012 there will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 20 14.
General rate slab rate for individual resident aged below 60 yearsnri huf aop boi income slabs tax rates where the. Further tax slab for 20% has not extended from 8,00,000 to rs. Mar 01, 20 changes in service tax budget 20 14 11 0 raj kumari friday, march 1, 20 edit this post in budget 20,no change has been proposed to amend basic service tax rates it remains at 12% plus 3 % surcharge. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay. Assessment year 201415, relevant to financial year 20 14. The table below shows the summary of tax slabs for fy 2014. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Here is the ready reckoner of tax slabs for the financial year 2014 which. India income tax slabs for assessment year 2014 financial year 201220 general tax payers income tax slab in rs. As everybody was expecting the basic exemption limit might be enhanced to. The following it rates were applicable for the financial year ending march 31, 20. New income tax slabs for ay 20 14 for resident senior citizens above 60 years fy 2012 s.
Lets first understand what is income tax slab in india. Income tax slabs for financial year 2014 goodreturns. Income tax slab from assessment year 20012002 to a. Income tax rates for year 2014, 2012, 20112012, 20112011 for filing income tax returns in india for salaried and business income of individuals. 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. This is the income tax slabs for financial year 2012 and the analysis year 20 14. In the budget 20 announcement the tax slabs has been broadened for. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. 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. Tds from salary during financial year 2014 pdf download. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. New income tax slabs for ay 1415 for resident senior citizens above 60 years. The professional tax slab rates are revised every fiscal year and.
Income tax rates for fy financial year 2012 ay assessment year 20 14,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Click here to save tax with hdfc lifes various online insurance products. Fill up the relevant details to know your tax liability for fy 2014 income tax slabs for fy 20 14 education cess of 3% surcharge of 10% on rs 1 crore plus income earners tax credit of rs 2,000 for. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. The latest free income tax calculator to calculate your latest tax and to compare your tax savings.
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. New income tax slab for ay 12 new income tax slabs for ay 12 for resident senior citizens above 60 years fy 201112. Income tax slab for filing tax return on income in india. Annual professional tax in gujarat for the year 201718. Calculate tax liability for ay 201415 income slabs tax ratesi. Income tax slabs for assessment year 2014 financial year 201220 india income tax slabs for. Latest income tax slabs and rates for fy 2012 and as. Assessment year 2014, relevant to financial year 2012. Feb 28, 20 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. Salaried, selfemployed individuals, and companies in maharashtra are levied with professional taxes on their income from several sources. 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. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014.
But there is no change in income tax slab rates as per union budget 2016. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012assessment year 20 14. As i have to urgently put up a claim to it dept for refund related to previous 20 years. Assessment year 20 14, relevant to financial year 2012. After changing of these limits and changes in maximum benefits to female is rs. Income tax rates for fy financial year 20 14 ay assessment year 201415,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Income tax department has issued a circular about tds on salary and all the aspects of income tax on salary, different circulars and notifications, forms, deduction on salary etc. 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 20 14. 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. 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. A 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 2% of such income tax, provided that the total income exceeds rs. Income tax slab rate for fy2014 is announced by the finance minister in the union budget of 2014.
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. The professional tax slab rates are revised every fiscal year and can be paid online by nonsalaried persons. Service tax rate chart since inception and as applicable for the financial year 2014 as per service tax act and rules in india. Indian income tax system follows income tax slabs for levying the tax on the income of an individual or. Government of india income tax slab rates for ay 202014. The slab of income tax rates for fy 2012 ay 20 14 is to some extent different from that of slab of fy 1112 ay 2012. Income tax slabs for fy 202014 here are the slabs for the income tax for the income incurring in fy 202014. Income tax slabs for assessment year 2014 financial. The normal tax rates applicable to a resident individual will depend on the age of the individual. Tds calculation sheet in excel and slabs for fy 2014. Income range tax percentage 1 up to rs 2,50,000 no tax exempt 2 2,50,001 to. Income tax slabs for assessment year 2014 financial year.
Here are the slabs for the income tax for the income incurring in fy 20 2014. Fill up the relevant details to know your tax liability for fy 2014 income tax slabs for fy 20 14 education cess of 3% surcharge of 10% on rs 1 crore plus income earners tax credit of rs 2,000 for income up to rs 5 lakhs us 87a there are no separate slab for male and female income tax slab tax up to rs. Service tax rate chart since inception and as applicable for the financial year 20 14 as per service tax act and rules in india, exemption limit for small scale service provider,due date to deposit service tax in case of partnership firms and individual and due date for payment chart for other persons,various abatement available in. Maharashtra professional tax slab rate, latest news. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. Here is the ready reckoner of tax slabs for the financial year 20 14 which. Except the ceiling limit under section 87a has been increased to rs. Latest updates the latest income tax slabs for 20182019 can be found here income tax slabs 201819. New income tax slabs for ay 2014 for resident senior citizens above 60 years fy 2012 s. 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 slabs income tax rates fy 2014 av 201415.
Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. Kindly clarify whether rebate us 87a for fy 2014 is applicable on the amount of taxable salary after all deductions including chapter via deduction or from total earnings including. 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. Income tax rates for fy financial year 2014 ay assessment year 201415,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. 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. 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. The following income tax slabs are applicable for the financial year 201819 i. Income range tax percentage 1 up to rs 2,50,000 no tax exempt 2 2,50,001 to 5,00,000 10% 3 5,00,001 to 10,00,000 20% 4 above 10,00,000 30% new income tax slabs for ay 20 14 for resident senior citizens above 80 years fy 2012.
Income tax 2014 changes in budget affecting salaried. The biggest beneficiaries would be people having income between rs. Income tax 2014 changes made in income tax provisions in the union budget 2014 which would affect salaried class income tax structure and provisions relating to central government. Apr 06, 20 10 useful charts related to service tax is given below. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. Union budget 20 14 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit.
Latest income tax slabs in india fy 201617 or as 201718. The latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. For individuals below 60 years age including woman assessees. 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. Income tax slab rates for 2014 and 201415 by shankar bose inspector of incometax mstu, puri 2.
Kindly clarify whether rebate us 87a for fy 2014 is applicable on the amount of taxable salary after all deductions including chapter via deduction or from total earnings including basic, da, hra, conveyance etc. The following are the revised tax rates for individuals and business. The part 1 of the first schedule of the finance act 2016 will provide for income tax slabs rates for f. Latest income tax slabs and rates for fy 2012 and as 2014. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. 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. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under.