Tag: income tax slab

Income tax slab for FY 2015-16 ( AY- 2016-17)

Financial year 2015-16 is coming. Here, I have presented income tax slab for fy 2015-16 and ay 2016-17 as per budget 2015. I hope this income tax rate chart will be helpful to you. Income tax slab for fy 2015-16 – income tax rates : Income tax slab for individual ( age below 60 years), HUF, AOP, BOI, artificial juridical person ( for male and female) :   [table id=5 /] Income tax slab for individual – senior citizen( age 60 years or more but less than 80 years) :   [table id=6 /]   Income tax slab for individual – super senior citizen ( Age 80 years or more) :   [table id=7 /]   * Rebate u/s 87A is available to person having income less than Rs. 5,00,000 during the financial year. The rebate amount is Rs. 2,000. So first calculate the tax and reduce Rs. 2,000 from it.The rebate u/s 87A is available to tax and not to income.   Education cess:  Education cess at 3% is appliacable on income tax calculated from the above table.   Surcharge:  Budget 2015 brings change in surcharge rate. Surcharge rate for other than company is 12% if total income exceeds Rs. 1 crore. On the other site wealth tax has been abolished in this budget.   Example: Income tax calculation for Mr. jerry (age 22 years) for fy 2015-16:...

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Income tax slab for A.Y. 2013-14 and F.Y. 2012-13

Income tax slab for A.Y. 2013-14 and F.Y. 2012-13 for person other than senior citizen and super senior citizen: Income Income tax rate Up to Rs. 2,00,000 0 Income from Rs. 2,00,001 to Rs. 5,00,000 10% Income from Rs. 5,00,001 to Rs. 10,00,000 30,000 +20% Income exceeding Rs. 10,00,001 1,30,000 + 30%   Income tax slab  for senior citizen  for a.y. 2013-14 and financial year 2012-13 : (age 60 years or more during the previous year) Income Income tax rate Up to Rs. 2,50,000 0 Income from Rs. 2,50,001 to Rs. 5,00,000 10% Income from Rs. 5,00,001 to Rs. 10,00,000 25,000 +20% Income exceeding Rs. 10,00,001 1,25,000 + 30% Income tax rate for super senior citizen for a.y. 2013-14 and f.y. 2012-13: (aged 80 years or more During previous year): Income Income tax rate Income up  to Rs. 5,00,000 0% Income from Rs. 5,00,001 to Rs. 10,00,000 20% Income exceeding Rs. 10,00,001 1,00,000 + 30% Surcharge is NIL Education cess is 3% on above tax. You can get xml utility from income tax website. This slab is for non corporate assessee. Income tax slab for a.y. 2013-14 is helpful when the person gets notices or want to rectify his return or file revised or belated return. Last date of return filling revised or belated return  is...

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Income tax rates for A.Y. 2014 -15

Income tax return filling due date is near and you may be searching for income tax slab.Here I have given chart for income tax rates for A.Y. 2014-15 and F.Y. 2013-14  Tax rates for other than senior citizen for a.y. 2014-15 For individuals other than senior citizen (60 years or more age) and super senior citizen (80 years or more age)assessee   Income Tax Slabs Up to Rs 2,00,000 Nil Rs. 2,00,000 to Rs.5,00,000 10% plus rebate-10% of income up to 2000 Rs. 5,00,000 to 10,00,000 20% More than Rs. 10,00,000 30%   Surcharge -10% when income exceeds Rs. 1 crore Education and higher education cess-3% on tax and surcharge   Tax rates for senior citizen (60 years or more age) for a.y. 2014-15:   Income Tax Slabs Up to Rs 2,50,000 Nil Rs. 2,50,000 to Rs.5,00,000 10% Rs. 5,00,000 to 10,00,000 20% More than Rs. 10,00,000 30%   Surcharge -10% when income exceeds 1 crore Education and higher education cess-3% on tax and surcharge   Income tax rates for super senior citizen (80 years or more age) for a.y. 2014-15:   Income Tax Slabs Up  to Rs.5,00,000 Nil Rs. 5,00,000 to 10,00,000 20% More than Rs. 10,00,000 30%   Surcharge -10% when income exceeds 1 crore Education and higher education cess-3% on tax and surcharge.  ...

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