Indian income tax system follows income tax slabs for levying the tax on the income of an individual or. Income tax slab rates for financial year 201516 assessment. Certain income of nonresident, interalia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the incometax act or as per the rates prescribed under the dtaas, whichever is more beneficial to such nonresident. Applicable to individual male below the age of 60 years and huf. Income tax rates slabs for the financial year 20112012 a. Rate of tax is 30% for the assessment year 20102011. Income tax slabs for assessment year 2014 financial year. Income tax slab rates for last 25 years in india 199293 to. Income tax slab for financial year 201415 mytaxcafe. 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. Every year the income tax rates are changed and it is important to get the latest income tax rates.
Income tax return form for assessment year 20112012 by vishal vijay gupta and co. Given below are the various tables for the latest income tax slabs for the fy 20202021. Secondary and higher education cess 1% of incometax. 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. Taxable income in 10% slab maximum tax will be rs 32000. Income tax slab rates for last 25 years in india 199293. Let us not take few examples and calculate the income tax amount. Now we understood the latest income tax slab rates for fy 201819 ay 201920. However, how to calculate the tax on our total income and how much is the tax benefits from budget 2017 changes. 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. However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. The income tax slab rates specify the threshold yearly limits at which a higher a lower tax rate is applicable.
For special tax rates applicable to special incomes like long term capital gains, winnings from lottery, etc. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. I want to know the tax liability of an individual for ay 201112 in case that he was resident of india till may 2010 and then settled in another country and earns income there. Income tax income tax rates ay 201011 fy 2009 referencer. 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 amendments made to the. Secondary and higher education cess 1% of income tax. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. 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. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. This is the income tax slabs for financial year 2012 and the analysis year 2014. Income tax slabs for assessment year 2014 financial year 201220 india income tax slabs for. The finance minister, in the budget today, changed the tax slabs for men, women and senior citizens.
Basic tax rate on domestic company has remained unchanged i. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. 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. Nov 18, 2011 income tax rates after budget 2012 is available here income tax rate chart slabs for assessment year 2011 12 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. Does that individual has to pay tax for income earned outside india also. For individuals, huf, association of persons aop and body of individuals boi. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Rate of incometax assessment year 202122 assessment year 202021 up to rs. India income tax slabs for assessment year 2011 12 financial year 2010 2011 general tax payers income tax slab in rs. Income tax slab rates for fy 201617 ay 201718 budget. Rates of income tax as applicable to individuals, hindu undivided families huf and artificial jurisdictional. Net income range income tax rates surcharge education cess upto rs. The new and revised income tax slabs and rates applicable for the financial year fy 2011 12 and assessment year ay 2012 are mentioned below.
Income tax rates for the assessment year 20102011 tax. Threshold limit for resident women assessees below 65 years of age and resident individuals of 65 years and above has been further increased to rs. Jan 30, 2009 tax rates as applicable for different persons for the a. Apr 22, 20 the slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 11 12 ay 2012. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows.
Ay is assessment year latest income tax slab rates for fy 201617. In case of resident individual and huf, where tax liability arises only because of the inclusion of long term capital gains, tax to be levied at 20% or 10% as the case may be, on the excess over the minimum exemption limit. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. 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. Senior citizen 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.
Income tax slab tells the tax rate at which you have to pay tax on income. Income tax slab rates for domestic companies assessment years 200102 200203 200304 200405 200506 200607 200708 200809 200910 tax rate cess total note. The budget 2014 has changed the income tax slab rates slightly as compared to the income tax rates of financial year 2014. Senior citizen age reduced to 60 years from last years 65 years. Income tax return form for assessment year 20112012.
You can calculate your income tax by using the below table calculator. Below are the income tax slab rates for fy 201617 or ay 2017 18. Basic minimum alternate tax rate us 115jb on the book profits proposed to be increased from 15% to 18%. Tax slab for fy 201011 ay 2011 12 particulars slab tax rate women assesses up to 1,90,000 nil. Tax slab for financial year 201415 assessment year 1516 for men below 60 years of age. Aug 11, 2011 income tax rate slab ay 2011 12 1011 0910 0607 0809 0708 income tax rate chart slabs for assessment year 2011 12 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. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Ay 202122 fy 202021 income tax january 12, 2020 understanding bsda basic services demat account demat january 11, 2020 senior citizen savings scheme retirement december 22, 2019 income tax rates. This tax table based on the latest income tax slab is a ready reference for calculating your income tax for year 201112. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below. Union budget 2014 has amended the basic income tax slabs for financial year 201415, however there is no change in the income tax rates, surcharge and cess. Income tax rates for assessment year 201112 all others male individuals, nris etc.
In come tax calculator pakistan for salaried is given below for your convenience. Note that the exempted amount for salaried is 3,50000 as per 20112012 budget of pakistan. Indian income tax slab rates updates this page is updated yearly with the indian income tax slab rates. For normal category the simple calculation is as follows. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Tax rates as applicable for different persons for the a. Mar 20, 2010 i want to know the tax liability of an individual for ay 2011 12 in case that he was resident of india till may 2010 and then settled in another country and earns income there.
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. Income tax slabs and rates for fy 202021 bankbazaar. Nov 21, 2010 tax rates as applicable for different persons for the a. Paripatra2014 income tax paripatra income tax 202014. Add surcharge surcharge is 10% of income tax rebate us 88e is not available w. Tax rate for ay 201112 on income, dividend, wealth, mat, stt. Income tax ratesslabs for financial year 201112 assessment.
Latest income tax slabs and rates for fy 2012 and as. Looking for the income tax slabs and rates for the financial year 201011 or assessment year 201112. New income tax slab proposed in budget 201011 and its impact on male individual, female individual, huf and senior citizen. 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. Further, in the fy 201112 ay 2012 men assessees will also get additional basic exemption limit of rs. Income tax rates for financial year 2012 and ay 2014. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. 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.
Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Quick highlights base slab for general tax payers increased to 1. For resident woman who is below 65 years of age at any time during the previous year. The basic exemption limit has been increased from rs 2 lakh to rs. Income tax slabs income tax rates fy 201112 av 2012.
Income tax circular 2014 circular, income tax 2012 amendment of income tax ordinance section 19. Income rate % income rate % up to 50000 nil up to 00 nil 50001 to 60000 10 01 to 150000 10 60001 to 150000 20 150001 to 250000 20 above 150001 30 above 250001 30 notes. Tax rate for ay 201112 on income, dividend, wealth, mat. This tax table based on the latest income tax slab is a ready reference for calculating your income tax for year 2011 12. 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. Latest income tax slabs rates for fy 2012 and as 2014. Currently we have listed slab rates from assessment year 199293 to 2014. Senior citizen now include people between 60 and 80 years. Senior citizens whose age is 60 years and above but less than 80 years. Income tax ratio tax calculator 2011 pakistan salaried. Feb 27, 2010 new income tax slab proposed in budget 201011 and its impact on male individual, female individual, huf and senior citizen. Latest income tax slabs and rates for fy 2012 and as 2014. Income tax ratesslab for assesment year rate % 2011. Income tax rates for assessment year 199293 income slab rs.
May 05, 2011 further, in the fy 2011 12 ay 2012 men assessees will also get additional basic exemption limit of rs. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. As there was no change in income tax slabs for fy 201516 i. 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. Net income range income tax rates surcharge education cess upto. Tax slab for fy 201011 ay 201112 particulars slab tax rate women assesses up to 1,90,000 nil. Latest income tax slab rates fy 201819 ay 201920 there are three categories of individuals based on the age of taxpayer.
The tax percentage is zero t0 20% in pakistan for salaried according to 201112 budget. To learn more about the income tax slabs ay 1819, click here. India income tax slabs for assessment year 201112 financial year 20102011 general tax payers. Aug 11, 2011 income tax rates slabs ay 2011 12 individual huf boi aop the rates for assessment year 2011 12 is given in the table below. Income tax rates for the assessment year 20102011 tags basic salary children deduction deductions deduction us 80d employee employer exemptions house rent allowance hra income tax india individual investment itr 1 medical insurance premium mediclaim parents pf provident fund rent salaries salary saral saral 2 saral ii section 80c. The highest tax slab has now been raised from rs 5 lakh to rs 8 lakh. Ay 201617, the following rates were also applicable for fy 201415 ay 201516. According to the budget released in 2019 there have been some changes in the structure of the tax slab in the interim budget 2019 the tax rebate of rs. Income tax slab rates from ay 199293 to ay 201516 download income tax calculator for a. Net income range income tax rates health and education cess up to rs. Special rates long term capital gains a on equity shares and units.
652 802 889 903 884 625 1007 506 1141 264 997 410 178 891 739 1233 825 1214 926 1409 1340 738 718 858 870 1166 1478 1373 1340 1488 1074 1349 500