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. The average salary income is the average salary income within the value. Given below are the various tables for the latest income tax slabs for the fy 20202021. Different tax rates have been provided for various categories of taxpayers and for different sources of income. Applicable to individual male below the age of 60 years and huf. Income tax slabs for fy 2012 , what are income tax rates for individuals, hufs, firms and corporate. Normal tax rates applicable to an individual the normal tax rates applicable to a resident individual will depend on the age of the individual. This is the income tax slabs for financial year 2012 and the analysis year 2014. Last 25 years income tax rates for individuals, huf, aops, bois ay 199293 to ay 201415 by shankar bose inspector of income tax oo the principal chief commissioner of income tax, odisha, bhubaneswar 2. The national board of revenue nbr is the apex authority for tax administration in bangladesh. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry.
Income tax department income tax return statistics assessment. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no. The latest income tax slab to calculate your tax for year 2012 20 based on budget 2012 budget. Can i file income tax returns for the assessment year 201112. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. Lets first understand what is income tax slab in india. Income tax department income tax return statistics assessment year 2012. 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. Assessment year ay 2012 income tax slabs 20112012 for general tax payers income tax slab in rs. Income tax rates applicable for the financial year fy 2012 and assessment. Income tax slab rate for assessment year 2012 20 or. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. Assessment year 2012, relevant to financial year 201112.
The average salary income is the average salary income within the value range slab i. Add surcharge surcharge is 10% of incometax rebate us 88e is not available w. Assessment year 2012 , relevant to financial year 201112. Rate of tax is 30% for the assessment year 20102011 notes for the assessment year 20112012. Income tax income tax rates ay 2012 fy 2011 referencer. Income tax slabs for assessment year 2014 financial year. Up to 1,80,000 up to 1,90,000 for women up to 2,50,000 for. Income tax return up to 5 lakh is exempted for salaried person for asessment year 2012 up to taxable income of 5 lakh salary including saving bank interest up to ten thousand. Another significant change in this budget was abolishing lower tax slab for women. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021.
Income tax rates in india and comparison with other countries and exemption. Women below 60 years of age this category is abolished from this year and is thus is same as that of general. 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 assmt year 201220prev year 201112. Latest income tax slabs in india fy 201617 or as 201718 income range. Previous year income tax rates for individuals tax2win. Latest income tax slabs and rates for fy 2012 and as 2012. Income tax rates income tax slabs for assessment year 2012. Assessment year 2014, relevant to financial year 2012. Sum of salary income divided by total number of returns within the value range slab. Calculate his income tax liability for financial year 201415 assessment year 201516. From 2012, women were also a part of the general slab. Income tax slab rates 202021 pdf download ay 202021.
Income tax slab rates for financial year 2014 assessment. It was established by the father of the nation bangabandhu sheikh mujibur rahman under. Income tax rates income tax slabs for assessment year. Nov 18, 2011 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. Income tax return statistics assessment year 201819.
Jul 30, 2012 income tax return form for assessment year 2012 has been released by income tax department. For most of the assessee itr5 is required to be filed through efiling. 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. Income tax slabs financial year 2014 rgess eligible nsebse shares list. Other deduction from income under income tax fy 1112. For normal category the simple calculation is as follows. For example, income tax returns of fy 201617 that end on 31 st march 2017 will be due on 31st july 2017however, the du. Income tax rates for financial year 2012 and ay 2014. Income tax rates slab for assessment year 2012 previous year 201112 rates %age. There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. 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. The new and revised income tax slabs and rates applicable for the financial year fy 2011. For individuals below 60 years age, other than woman assessees.
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. Income tax rates for assessment year 202014 previous year 2012. Income tax department time series data financial year. Income tax slabs income tax rates fy 201112 av 2012.
For senior citizens age 60 years or more but less than 80 years. 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 for filing tax return on income in india. Tax slabs for financial year 201415 or assessment year 201516 income tax return filing ay 201415which forms to. Rate of income tax assessment year 202122 assessment year 202021 up to rs. Income tax rates slabs for the financial year 20112012 a. X, aged 45 years, submitted the details of his income and investment for financial year 201415, as under. Latest income tax slabs and rates for fy 2012 and as 2014. Income tax slab rate for assessment year 2012 20 or financial year 20112012. Income tax ratesincome tax slab for assessment year 202021 previous year. Various examples of calculation of income tax learn accounts. Mar 16, 2012 the good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. Year ending march 31, 20 financial year 2012assessment year 2014.
Latest income tax slabs and rates for fy 2012 and as. The following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 2014. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Income tax ratesslabs for financial year 201112 assessment. Last 25 years income tax rates linkedin slideshare. Income tax slabs 202021 new income tax slabs, brackets. Income tax slabs and tax rates in india for fy 202021. Taxable income in 10% slab maximum tax will be rs 32000. In case of individual other than ii, iii and iv below and huf.
Now itr5 and itr6 has also been released in paper form. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Income tax department income tax return statistics. 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. In india, we have a progressive method of taxation, this means the more your income is the more tax you will. There are lot of changes in tax rates and cess in the last 25 years. Latest income tax slabs in india fy 201617 or as 201718. Fintotal knowledge income tax slabs financial year 2012. Income tax slab rates for last 25 years in india 199293 to. Itr1 sahaj,itr2,itr3, itr4 and itr4s sugam has been released. Income tax rates for assessment year 199293 income slab rs. Tax slab for financial year 201516 assessment year 1617. The tax rates discussed in this part are applicable for assessment year 202021 i.
Jan 09, 2017 have a look at the past 25 years income tax slab rates for individuals in india. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. For individuals below 60 years age including woman assessees. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. Income tax slab for financial year 201516 budget 2015 as the budget for the financial year 2015 income tax slab rates for individuals who is a resident in india who have during the income tax slab rate f. Jun 05, 2015 income tax returns for a financial year must be filed by individuals on or before the 31st of july of the next financial year.