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 rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. Tax slab ay 201617 individualhufboiaopajp india itr. Arun jaitley presented the union budget on 29 february 2016. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt. Income tax slab 201718 income tax slabs rate chart for assessment year 201718 f. In union budget 202021, the news tax slab rate regime is optional and a taxpayer can choose to pay tax in the old regime.
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. If you are a salaried professional, you will be required to check the latest income tax slabs. Incometax slab rates for individual for fy 201516 ay. Quick excel income tax calculator for fy 201516 ay 201617. Income tax at a glance among direct taxes, income tax is the main source of revenue. Comparison of income tax slabs for fy 201718 and fy 201617. Income tax slab rates for fy 201617 ay 201718 budget 201617. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account number. The amount of rebate is 100 per cent of incometax or rs.
The finance minister has proposed to tax the super rich by increasing surcharge from 12% to 15% if the income earned is more than rs. 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. Income tax is levied on different sources of incomes like. Free major itr forms for financial year 201415 itr1, itr2, itr2a, itr4s pdf files. Examples used are for illustration purpose in order to simplify the process. Find out the income tax slab rate for ay 201718 here. Income tax slabs income tax rates and deductions for fy 2017. Income tax slab rates for individual for fy 201516 ay 201617 tax expert. Income tax slab rates for ay 201617 local authorities. New income tax slab for financial year 201617 mytaxcafe.
March 9, 2017 as per the union budget 2016,there has been no change in the income tax slab rates for the financial year 201617. The age of the individual is the factor to divide the slab rates in the income tax table. The pkf worldwide tax guide 201617 wwtg is an annual publication that provides an overview. 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. This video by fincalc tv explains the process of calculating income tax for a particular financial year fy 201617. Income tax slabs for fy 2016 17 budget 2015 has made no change in the income tax slab. Today we are providing income tax slab rates for assessment year 201617. Every citizen with an income is segregated into different income groups, or tax slabs, for computation by the income tax department. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details.
The age groups are up to age 60, age 60 to 80 and above age 80. So, refer the above table for the local authorities surcharges. Income tax slab rates for fy 201617 ay 201718 budget. Income tax slab rates 201819 pdf download ay 201920. For the assessment year 201617, a partnership firm including llp is taxable at 30%. However it has increased the surcharge from 12% to 15% applicable for income above rs 1 crore. Income tax slab rates for individual for fy 201516 ay 201617 income tax slab rates for individual for fy 201415 ay 201516. 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. Income tax manual part 1 the income tax ordinance, 1984 xxxvi of 1984 as amended up to july, 2014 i contents sections page long title 1 preamble 1 chapter 1 preliminay 1. Get income tax slab rates and income tax deductions in india for assessment year ay 201617. Latest income tax slab rates for fy 201617 assessment year 20172018 in india. Below are the income tax slab rates for fy 201617 or ay 2017 18.
Incometax slab rates for individual for fy 201516 ay 201617 tax expert. Normal tax rates applicable to a resident individual of the age of 60 years or above at any time during the year but below the age of 80 years. Incometax slab rates for individual for fy 201516 ay 201617 steps to file your indian incometax return quickly with. Incometax slab rates for individual for fy 201516 ay 201617 incometax slab rates for individual for fy 201415 ay 201516. Following are the major highlights of the latest income tax slab. It is deductible from incometax before calculating education cess. Income tax slab rates for financial year 201617 have not been changed much in budget 2016. You can complete filing your income tax return in just 15 minutes using the website or the mobile.
Individuals below 60 yrs income tax slab 201617 ay 201718. With the help of quick excel income tax calculator for fy 201516 ay 201617 you can easily compute tax liability for an individual. But the tax slabs have not been changed for the last few years. Resident individuals are subject to income tax on their worldwide income. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. Nonresidents are taxed on egyptian sourced income only. But the surcharges are varied depending on the income.
Incometax slab rates for individual for fy 201617 ay. Rates for deduction of income tax at source from salaries, computation of advance tax and charging of income tax in special cases during the financial year 20162017. Taxable income rate of tax 1 where the taxable income does not exceed rs. Income tax slab rates for ay 201617 local authorities local authorities are taxable at a rate of 30%. Normal tax rates applicable to a resident individual below the age of 60 years, nonresident individual, residentnonresident huf, aop, boi, artificial juridical person. Bihar professional tax slab rates for financial year 201617. However, the surcharge shall be subject to marginal relief where income exceeds one crore rupees, the total amount payable as income. Service tax rate chart for fy 201617 and ay 20172018 upto 1st june 2016 service tax rate increased from 14. Income tax slabs for individuals are divided into 3 slabs.
However, the surcharge shall be subject to marginal relief where income exceeds one crore rupees, the total amount payable as incometax and surcharge shall not exceed total amount payable as. As there was no change in income tax slabs for fy 201617 i. The latest income tax slabs based on the union budget presented on 29 february 2016. Income tax is imposed on the basis of ability to pay. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. Hdfc life provides the latest income tax slab rates and deductions in. Professional tax slab rates in india for financial year. Professional tax assam is payable at the rate of rs. Rates for deduction of incometax at source from salaries, computation of advance tax and charging of incometax in special cases during the financial year 20162017. Service tax rate chart for fy 201617 with service tax. Individual resident in india below the age of 60 years and for huf, aop, boi and ajp. Income tax slab rates for the financial year 201617 assessment year 201718 are given below in the table.
Latest income tax slabs and rates for fy 201617 and ay 201718. Calculate your tax based on the tax slabs for year 20162017. 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. The income tax slabs are the same as that of financial year 201516 income tax is calculated on the taxable income of an assessee as per the income tax slab rates that are applicable for the relevant financial year. You can complete filing your incometax return in just 15 minutes using the website or the mobile. 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 slab for individuals, senior citizens, hufaop, etc. The surcharge will be applicable if the income exceeds rs. Income tax slab rates income tax slab rates with the introduction of union budget 2020, there has been a substantial change and modification in the tax slabs applicable to the salaried class. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Income tax slab for fy 202021 pdf download income tax.
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