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. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Apr 10, 2018 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. Income tax slabs rates for resident individuals fy 201819.
Comparison of income tax slabs for fy 201718 and fy 201617. But the surcharges are varied depending on the income. The normal tax rates applicable to a resident individual will depend on the age of the individual. Latest tds rates chart for fy 201617 budget 201617.
In the event of any change, we do not assume any responsibility to update the tax rates consequent to such changes. The pt rates were changed for the state of west bengal for the financial year 201617. Completion of age of 60 80 for senior very senior citizen status benefit under income tax. The amount of incometax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. We provide you the latest income tax rates in india for everyone and tax benefits for the current financial year 201617, to know more about income tax slab.
The amount of incometax shall be increased by a surcharge at the rate of 7% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 12% of such tax, where total income exceeds ten crore rupees. Below are the income tax slab rates for fy 201617 or ay 2017 18. Based on the annual income earned by an individual, the following table. The surcharge will be applicable if the income exceeds rs. Income tax slabs for fy 201617 ay 201718 for firms in the case of firms, the rate of incometax has been specified in paragraph c of part iii of the first schedule to the bill. For the assessment year 201617, a partnership firm including llp is taxable at 30%. However, in case of a nonresident individual the tax rates will be same irrespective of his age. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age.
Y 201516 and ay 201617, tds chart for ay 201819, download tds rate chart for ay 202021 etc. Here we provide all past years tds rate chart like tds rates for f. The tax slab for fy 201617 for cooperative societies, firms local authorities and llps will continue at the same rate as the previous financial year. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Income tax slab rates for fy 201617 ay 201718 budget.
The rates are applicable for the financial year 201617. Every year the income tax rates are changed and it is important to get the latest income tax rates. 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. Income tax slabs for fy 201617 ay 201718 for local authorities. Professional tax rates for the financial year 202021 for the respective states has been discussed in this post. Ca sandeep kanoi, income tax rate chart, income tax rates, rate chart, tax rate changes, tax rates. 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. Get income tax slab rates and income tax deductions in india for assessment year ay 2016 17. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Tds rate chart for fy 201920 ay 202021, tcs rates for fy. Hdfc life provides the latest income tax slab rates and deductions in. Aug 14, 2019 indian finance minister, shri arun jaitley has tabled today, the union general budget 2016 17 in the parliament. 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.
Income tax slabs for fy 201718 ay 201819 tax reduced from 10% to 5% for income from rs 2,50,000 rs 5,00,000. May 23, 2016 download tds rates chart fy 2016 17 ay 17 18 tds deposit due dates interest penaltylike us on twitter facebook to open lock. Ay 2016 17, the following rates were also applicable for fy 201415 ay 201516. Here we are providing latest tds rates for ay 202021. Income tax slabs or rates applicable for resident individuals including for women assessees in respect of fy 201819 py 201819 ay 201920, as per the finance act, 2018. The rates are applicable for the financial year 201617 ay. Government of india income tax slab rates for ay 20152016. So, refer the above table for the local authorities surcharges. Tds rates applicable for different categories of income. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. The rate of incometax in the case of every local authority is specified in paragraph d of part iii of the first schedule to the bill.
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. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt. 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. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. New income tax rate financial year fy 201819 or assessment yearay 201920. Income tax slabs income tax rates and deductions for fy 2017. 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. However, the surcharge shall be subject to marginal relief where income exceeds one crore rupees, the total amount payable as income. We give below the income tax rates and slabs applicable for the fy 201516 or ay 2016 17.
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. All assessees are required to file income tax return each year if they have taxable income of more than rs. Previous year professional tax rates 201920 professional tax is deducted by the employers for the salaried employees and same is deposited with the state government. Latest tds rate chart, tdstcs rates chart for financial year 201617 assessment year 20171 is listed here. However, under new tax regime person cannot claim up to 70 income tax.
Tds limit on epf premature withdrawal has been increased to rs 50,000. Incometax slab rates for individual for fy 201617 ay 201718. Applicable income tax rates investments in mutual fund schemes. However, there are few changes to this budget when it comes to tax slabs. 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. For senior citizens age 60 years or more but less than 80 years. For the assessment year 2016 17, a domestic company is taxable at 30%.
Income chargeable under the head salary, is taxable as per the section 192 of the it act, 1961. Save tax with hdfc lifes various online insurance products. Below are the income tax slab rates for fy 2016 17 or ay 2017 18. For income tax purpose citizens above age of 60 are considered as senior citizens and above age.
As there was no change in income tax slabs for fy 201516 i. Apr 30, 2020 tds rate chart for fy 201920 ay 202021. Here is a primer on income tax slab rates for ay 201617. The above table illustrates the tax deduction at source i. However, the surcharge shall be subject to marginal relief where. Income tax slab rates 201718 pdf download ay 201819. 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. Income tax slab rates ay 201920, fy 201819, income tax. 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.
Ay 201617, the following rates were also applicable for fy 201415 ay 201516. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. Income tax slab rates for ay 201617 local authorities local authorities are taxable at a rate of 30%. 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 201617. Income tax slabs for fy 2016 17 ay 201718 for firms in the case of firms, the rate of incometax has been specified in paragraph c of part iii of the first schedule to the bill. Tax return form excel,4,income tax return form itr2,1,income tax return last date,5,income tax rules,7,income tax slab,9,income tax slab in dtc,1,income tax slabs,6,income tax slabs after budget,3,income tax. This rate will continue to be the same as that specified for financial year 201516. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as. Latest income tax slabs and rates for fy 201516 and ay 201617. For income tax purpose citizens above age of 60 are considered as senior citizens and above age of 80 are considered very senior citizens. Incometax slab rates for individual for fy 201516 ay 201617 incometax slab rates for individual for fy 201415 ay 201516. Ay is assessment year latest income tax rates for fy 201516.
Incometax slab rates for individual for fy 201617 ay. Income tax slabs rates for resident individuals fy 2018. Income tax surcharge rate for fy 201617 and computation. But the tax slabs have not been changed for the last few years. Income tax slab rates for financial year 201516 assessment. Here is a primer on income tax slab rates for ay 2016 17.
Service tax rate chart for fy 201617 and ay 20172018 upto 1st june 2016. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. Today we are providing income tax slab rates for assessment year 2016 17. Budget 2015new tax slabs and rates for fy 201516 ay. It may be noted that the tax rates slabs applicable for fy 201718 ay 201819 have remained the same for fy 201819 ay 201920 and there is no change in the basic exemption limits. Given below are the various tables for the latest income tax slabs for the fy 20202021. 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 slab 201718 ay 201819 budget 2017 from fy 201718, those with annual income between rs 50 lakh to rs 1 crore will be levied a surcharge of 10 per cent. This rate will continue to be the same as that specified for the financial year 201516. In this post, we will discuss the relative changes in the tax slab for 2016 17 for different entities. Incometax slab rates for individual for fy 201516 ay 201617. Section 194 j tds on fees for professional or technical services. Normal rates of tax applicable to all individuals who are less than 60 years of age sr no. 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. 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. Latest income tax slabs and rates for fy 201516 and ay. Scroll down below and check all latest tds rate chart issued by income tax. Income tax slabs and rates for fy 202021 bankbazaar. The following paragraphs discuss the income tax rates for ageincome slab matrix.
The pt rates were changed for the state of west bengal for the financial year 2016 17. However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. The said change will be effective from 1st june, 2016. Incometax slab rates for individual for fy 201718 ay 201819 incometax slab rates for individual for fy 2016 17 ay 201718. Incometax slab rates for individual for fy 201617 ay 2017. Surcharge and education cess see note income tax slab rates 201718 pdf download. Rs 2,500 or 100% rebate in income tax whichever is lower for individuals with income below rs 3. 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. You can see income slab and income tax rate for fy 201617 ay 201718 applicable for the period from 01.
New tax regime slab rates are not differentiated based on age group. For the assessment year 201617 and 201718, a partnership firm including llp is taxable at 30%. Therefore, i thought to update the tax slab rates for fy 201516 ay 201617 considering the budget 2015. The income tax rates ay 201920 or fy 201819 for salaried individuals is as follows. 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. Today we are providing income tax slab rates for assessment year 201617. Income tax slab rates for ay 201617 local authorities. Income tax deductions fy 201617 section 80c the maximum tax exemption limit under section 80c has been retained as rs 1. 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. 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 save tax with hdfc lifes various online insurance products.
The above income tax rates are for general category men women who are below 60 years of age. Cooperative societies, firms local authorities and llps. Individual resident in india below the age of 60 years and for huf, aop, boi and ajp. Latest income tax slabs rates for fy 2012 and as 2014. Incometax slab rates for individual for fy 201718 ay 201819 incometax slab rates for individual for fy 201617 ay 201718. Incometax slab rates for individual for fy 201516 ay. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. 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. Get income tax slab rates and income tax deductions in india for assessment year ay 201617. In this post, we will see how the rates are applicable for different professions and at what rates. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax. Respected sir what is limit of taxabla income to male and female for fy 2016 17 ay 2017 18 what are the rates of tax slab limit is their any change in deduction u s 80c and others income tax tds.