Income tax rates for ay 2015-16 pdf

All assessees are required to file income tax return each year if they have taxable income of more than rs. Due date to file income tax return assessment year 201516. 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. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. In 2015, the income limits for all brackets and all filers will be adjusted for inflation and will be as seen in table 1.

It is deductible from incometax before calculating education cess. Availabilityincome tax rebate section 87a fy 201415 ay. To learn more about the income tax slabs ay 1819, click here. Now you can scroll down below n download income tax calculator for fy 2015 16 in excel format. From ya 2017, the tax rates for nonresident individuals except certain reduced final withholding tax rates has been raised from 20% to 22%. Government of india income tax slab rates for ay 20142015.

The more a taxpayer earns the more he should pay is the basic principle of charging income tax. Income tax slabs and rates for fy 202021 bankbazaar. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 201516 for last fy 201415. Ay 202021 fy 201920 vote on account income tax october 18, 2018 guide to standard deduction deductions september 22, 2018 number of days work to buy an iphonex others. The amount of rebate is 100 per cent of incometax or rs. It slabs from fy 200809 to fy 201516 income tax caclubindia. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Income tax income tax rates ay 201516 fy 2014 referencer. Tax on accumulated balance of recognised provident fund 111 to be computed in accordance with rule 91 of part a of fourth schedule 2. Income tax slabs income tax rates fy 201415 av 201516. The amount of rebate is 100 per cent of income tax or rs. In 20, income tax department issued letters to 12,19,832 nonfilers who had done high value transactions.

Latest income tax slabs and rates for fy 201516 and ay. 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 201415. Last 25 years income tax rates linkedin slideshare. Union budget 201516 and 201415 have not altered the rebate available under section 87a for fy 201516, 201415 or ay 201617, 201516 meaning thereby that effectively there will be no income tax payable up to the total income of rs.

Nonresident individualhuf net income range income tax rates health and education cess up to rs. Income tax slab rates for last 25 years in india 199293 to. Finance bill 2014 is silent on the section 87a, which was introduced by finance bill 20 with effect from ay 201415 and provides a rebate of rs. See here how the changes in tax rates affect the age groups per income level from last year to this year. Detailed split for general, women, senior citizen etc are provided.

Highest tax rate including surcharge has come down from 56% in fy 199091 to 30. Income tax rates slab for assessment year 201415 previous year 2014 rates %age. Mar 15, 2019 the income tax slab is remain unchanged in this financial year. Tax rebate of rs 2000 to resident individuals whose total income is less than rs 5,00,000.

The exemption limit for income tax has also increased more than 10 times from rs. This article provide quick excel income tax calculator for fy 201516 ay 201617 for individual resident whose age is below than 60 years i. Normal rates of tax applicable to all individuals who are less than 60 years of age. Earlier employer may collect such evidence which he deems fit to allow deduction or set off of house property income from salary income to employee,now department will. The new income tax rates or income tax slabs are effective from april 01, 20. The normal tax rates applicable to a resident individual will depend on the age of the individual. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Income tax is imposed on the basis of ability to pay. Government of india has increased the basic personal income tax exemption limit from rs. Incometax slab rates for individual for fy 201516 ay 2016.

Download income tax calculator for fy 201516 ay 201617 income tax slab for fy 201415 ay 201516 the income tax slab has changed for general public and senior citizens. Instructions to form itr6 ay 2015 16 page 4 of 12 sl. Instructions to form itr6 ay 201516 income tax department. Proposed tax slab for financial year 14 assessment year 1415 for men below 60 years of age. The income tax slab is remain unchanged in this financial year. Given below are the various tables for the latest income tax slabs for the fy 20202021. 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 2015 16 i. Instructions to form itr6 ay 201516 page 4 of 12 sl. Income tax rates for assessment year 20162017 previous year 201516 income tax rates for assessment year 20152016 previous year 201415 income. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 2015 16 for last fy 201415. Income tax rate chart income tax slabs as applicable for assessment year 2015 16 financial year 201415 for individual, huf, aop, boi, partnership firms, llp and companies. Income tax at a glance among direct taxes, income tax is the main source of revenue. Financial year 201516 assessment year 201617 every year the income tax rates are changed and it is important to get the latest income tax rates.

For income tax purpose citizens above age of 60 are considered as senior citizens and above age. Oct 14, 2019 government of india has increased the basic personal income tax exemption limit from rs. Download income tax calculator for fy 201516, download latest income tax calculator for ay 201617 or fy 201516 in excel format. Incometax slab rates for individual for fy 201516 ay 201617 steps to file your indian incometax return quickly with revise correct your incometax return. 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. Ay is assessment year latest income tax rates for fy 201516. Up to 2,00,000 up to 2,00,000 for women up to 2,50,000 for resident individual of 60 years till 80 years. Finance bill 2015 is silent on the section 87a, which was introduced by finance bill 20 with effect from ay 201415 and provides a rebate of rs. If you are under the age of 18, and receive unearned income for example.

This is to maintain parity between the tax rates of nonresident individuals and the top marginal tax rate of resident individuals. Hence this provision continues for ay 2015 16 as well. Additionally in 201415, the basic medicare levy percentage. Union budget 2015 16 and 201415 have not altered the rebate available under section 87a for fy 2015 16, 201415 or ay 201617, 2015 16 meaning thereby that effectively there will be no income tax payable up to the total income of rs. Hence this provision continues for ay 201617 as well. 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. Income tax slab for filing tax return on income in india. Carbon tax repeal and 201516 tax cut reversal in detail. Penalty on late filing of income tax return ay 201516 and fy 201415 update. Taxes on directors fee, consultation fees and all other income. However, tax rate is 25% if turnover or gross receipt of the company does not exceed rs. Availabilityincome tax rebate section 87a fy 201415 ay 201516.

Apr 10, 2018 income tax slab rates for individual for fy 2015 16 ay 201617 steps to file your indian income tax return quickly with revise correct your income tax return. Mar 19, 2019 download income tax calculator for fy 2015 16, download latest income tax calculator for ay 201617 or fy 2015 16 in excel format. Income tax rates 20142015 for filing individual tax returns. Net income range rate of income tax assessment year 202122 assessment year 202021 up to rs. This article provide quick excel income tax calculator for fy 2015 16 ay 201617 for individual resident whose age is below than 60 years i. Income tax rates for ay 2015 16 financial year 201415 leave a comment cancel reply. Now my total income is rs 591684 including the arrears. Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. Short term capital gains on equity share or equity oriented fund chargeable to stt 111a 15 3.

Tax and tax credit rates and thresholds for 201516. Nonresident individualhuf net income range incometax rates health and education cess up to rs. Apr 14, 2020 income tax slabs ay 201415 fy 2014 income tax slabs ay 2015 16 fy 201415 income tax slabs ay 201617 fy 2015 16 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. This income tax calculator is applicable for fy 201415. Save tax with hdfc lifes various online insurance products. Calculate your tax based on the tax slabs for year 20142015. Here is a primer on income tax slab rates for ay 201617. Tax relief for this allowance is restricted to 10 per cent. Now you can scroll down below n download income tax calculator for fy. My next question is that how should be calculated the income tax for current year. Income tax slab rates for last 25 years in india 199293.

Hence this provision continues for ay 201516 as well. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. My question is that this arrear should not be added in previous year. Income tax collected from the above category is not on slab rate but on flat 30% total income generated from the business. But the tax slabs have not been changed for the last few years. Minor changes has been made in tds rates for fy 2015 16 by finance minister in budget. Income tax rates for assessment year 199293 income slab rs. Income tax is a direct tax which is levied by the government. Legislation was passed by parliament in june 2015 to amend the 201516 tax scale and low income tax offset so that the overall tax rates are the same as the previous year.

This file includes income tax calculator, it form, form 16 and hra calculator. In 2014, income tax department has identified additional 22,09,464 nonfilers who have done high value transactions. For senior citizens age 60 years or more but less than 80 years. Income tax rates for ay 201516 financial year 201415 january 4, 2015 by admin.

Log on to efiling portal at if you are not registered with the efiling portal, use the register. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. Download income tax calculator for ay 201516 or fy 201415, hi friends here we are providing latest income tax calculator for ay 201516 in excel format. Incometax slab rates for individual for fy 201516 ay. Individual income tax rates australian taxation office. Requirement for obtaining evidence particulars by employer for tdssection 192.

Incometax slab rates for individual for fy 201617 ay 2017. Quick excel income tax calculator for fy 201516 ay 201617. The above income tax rates are for general category men women who are below 60 years of age. Personal income tax rates for the financial year 20082009 and assessment year 20092010 new delhi delhi, india, november 17, 2015 indian government ups basic personal income tax exemption limit from rs. Income tax slab rates ay 201920, fy 201819, income tax. Apr 17, 2015 penalty on late filing of income tax return ay 2015 16 and fy 201415 update. Now you can scroll down below and download income tax calculator for ay 201516 or fy 201415. Individual income tax rates for prior years australian.

The following income tax rates are applicable for the financial year ending march 31, 2016 i. Mar 19, 2019 download income tax calculator for ay 2015 16 or fy 201415, hi friends here we are providing latest income tax calculator for ay 2015 16 in excel format. Ay is assessment year latest income tax rates for fy 2015 16. Income tax rates for ay 201516 financial year 201415. We provide you the latest income tax rates in india for everyone and tax benefits for the current financial year 201415. Jan 04, 2015 calculate your tax based on the tax slabs for year 2014 2015. The above rates include changes implementing changes announced in the 201819 federal budget. Download income tax calculator for fy 201415 ay 201516. India income tax slabs 2014 2015 for general tax payers and womenincome tax slab in rs. Now you can scroll down below and download income tax calculator for ay 2015 16 or fy 201415.

Incometax slab rates for individual for fy 201516 ay 201617. Tax rates are proposed by the minister of finance in the annual budget speech and fixed or passed by parliament each year. Income tax department has extend the due date for filing income tax return and tax audit report all over india from 30. Articles explains rates of incometax 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. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. The tax slab rates for individual below 60 years and for nri aop boi hufajp. 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. The above rates do not include the temporary budget repair levy. Even the lowest tax rate has gone down from 20% to 5%. Information is recorded from current tax year to oldest, e. It is deductible from income tax before calculating education cess. Incometax slab rates for individual for fy 201617 ay. For income tax purpose citizens above age of 60 are considered as senior citizens and above age of 80 are considered very senior citizens.