Income tax slab fy 2016-17 in pdf

Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. 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. Cooperative societies, firms local authorities and llps. Fm has announced a new income tax regime following which individuals will have to pay lower taxes for fy 202021 onwards as compared the current tax laws. Compute your tax liability by applying the tax rates in force for the financial year for which you are calculating the tax as per the income slabs your income falls in. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. 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. Today we are providing income tax slab rates for assessment year 201617. 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 slab rates for financial year 201617 have not been changed much in budget 2016. No change in income tax slab,same as financial year 201516.

View income tax slab and rates for all tax payers for ay 202021, ay 202122 and ay 201920. For income tax purpose citizens above age of 60 are considered as senior citizens and above age of 80 are considered very senior citizens. Here is a primer on income tax slab rates for ay 201617. Income tax manual part 1 national board of revenue. Download income tax calculator ay 201617 in excel income tax calculator for financial year 201516, ay 201617 have been created in excel format for free download. Assessment year for which this return form is applicable this return form is applicable for assessment year 2016 17 only, i. Income tax slab rates for financial year 2016 17 have not been changed much in budget 2016. The income tax rates are usually revised every year during the budget. 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. Tds rate chart fy 201617 ay 201718 income tax rates.

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. Calculate advance tax payable on various due dates by. Ay 201617, the following rates were also applicable for fy 201415 ay 201516 latest income tax slabs in india. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax slab income tax rate income upto rs. But the tax slabs have not been changed for the last few years. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account number. This calculator is exclusively designed for bank employees based on the 10th bipartite settlement with additional calculation of income tax on arrears. Below is the chart about capital gain tax for fy 201617 ay 201718 tax effect on dividend received by holders equity orientednil and debt orientednil.

But the surcharges are varied depending on the income. Ay 2016 17, the following rates were also applicable for fy 201415 ay 201516 latest income tax slabs in india fy 2016 17 or as 201718. Particulars tax rates 1 individual male and female. Income tax slab rates for ay 201617 local authorities. Fill up the relevant details to know your tax liability for fy 201617 income tax slabs for fy 201617 ay 201718 education cess of 3% surcharge of 15% on rs 1 crore plus income earners tax credit of rs 5,000 for income up to rs 5 lakhs us 87a there are no separate slab for male and female income tax slab tax up to rs. The above income tax rates are for general category men women who are below 60 years of age. If you are under the age of 18, and receive unearned income for example. Subordination and control of income tax authorities. In this post, we will discuss the relative changes in the tax slab for 2016 17 for different entities. Latest income tax slabs and rates for fy 201516 and ay. 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.

Mar 05, 2016 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. 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. However, under new tax regime person cannot claim up to 70 income tax. Security transaction tax stt rates for fy 201617 ay 201718. Income slab and income tax rate for fy 201617 ay 201718 applicable for the period from 01.

Income tax slabs for financial year 201617 fintrakk. 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 2016 17 save tax with hdfc lifes various online insurance products. Aug 14, 2019 latest income tax slab rates for fy 2016 17. 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. 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. Rs 12,500 for total income up to rs 5 lakh for fy 201920. 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 rates specify the threshold annual income limits at which a higher or lower rate of tax is applicable. A tax rebate under section 87a is allowed to individual taxpayers a maximum amount of. Individual income tax rates australian taxation office. There is no change in the basic tax rate and exemption limit for individual, hindu undivided family, association of person, body of individuals and artificial juridical person in assessment year 2016 17 in comparison to a. 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. Income tax slab rates for individualhuf for fy 201819 ay 201920 income tax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. Income tax slab 201718 income tax slabs rate chart for assessment year 201718 f. Instructions for sahaj income tax return ay 201617. Income tax calculator in excel format for fy 2016 17 and ay 201718 any bank branch may utilize the services of this income tax calculator to automatically generate the earning record along with form 16 for any number of employees at bank branch. New tax regime slab rates are not differentiated based on age group. World income tax and tds rates 20152016 f y 201617 a y. 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. So, refer the above table for the local authorities surcharges.

We give below the income tax rates and slabs applicable for the fy 201516 or ay 2016 17. Health and education cess is levied at the rate of 4% on the amount of incometax plus surcharge. Today we are providing income tax slab rates for assessment year 2016 17. New income tax slab for financial year 201617 mytaxcafe. Apr 10, 2018 income tax slab rates for individual for fy 201516 ay 2016 17 steps to file your indian income tax return quickly with revise correct your income tax return. For the assessment year 2016 17, a partnership firm including llp is taxable at 30%. 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. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. 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. Incometax slab rates for individual for fy 201718 ay 201819 incometax slab rates for individual for fy 201617 ay 201718. Income tax rates for financial year 201617 relevant to assessment year 201718 sr. Nil 10% 20% 30% 1a individual senior citizens age 60 years to 79 years nil 10% 20% 30% 1b individual super senior citizens age 80 years and above nil 20% 30% plus. However from budget 2016, 10% tax levied if your dividend income is more than rs. Latest income tax slabs and rates for fy 201516 and ay 201617.

Assessment year for which this return form is applicable this return form is applicable for assessment year 201617 only, i. Following are the income tax slab rates and deductions for different categories of. Rates for deduction of incometax at source from salaries, computation of advance tax and charging of incometax in special cases during the financial year. Surcharge and education cess see note income tax slab rates 201718 pdf download. Incometax slab rates for individual for fy 201617 ay. 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. For the assessment year 201617, a partnership firm including llp is taxable at 30%. Most filers would be filing tax return for the financial year 201617 therefore the tax rates and corresponding income slabs for this fy would be applicable. The income tax act 1961 is the law that governs the provisions for our income tax. As there was no change in income tax slabs for fy 201516 i. Incometax slab rates for individual for fy 201516 ay. For financial year 201617 department has merged the different itr and numbering of itr has been changed and after read more. Income tax slab rates for financial year 201516 assessment. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows.

Income tax slab rates for fy 201617 ay 201718 budget. Income tax rates for financial year 201617 tax rates individual. In budget 2020, a new structure of income tax slab brought to individual taxpayers who are below the age of 60 by our respected finance minister nirmala sitharaman. 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. Download income tax slab for ay 2016 17 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 2016 17. 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. Income tax slab rates for ay 201617 local authorities local authorities are taxable at a rate of 30%. Tds rate chart fy 201617 ay 201718 income tax ratesipc. The following paragraphs discuss the income tax rates for age income slab matrix. Income tax slab rates for fy 201617 ay 201718 basunivesh. Instructions for sahaj income tax return ay 201617 general. Various deductions that are allowed to a taxpayer under section 80c, section 80d etc. The tax slab for fy 201617 for cooperative societies, firms local authorities and llps will continue at the same rate as the previous.

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. In this new tax slab structure, some part is from the old one and some are new. Based on the annual income earned by an individual, the following table. Here is a primer on income tax slab rates for ay 2016 17. This rate will continue to be the same as that specified for the financial year 201516. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 2016 17 ay 201718. Ay is assessment year latest income tax rates for fy 201516. Senior citizen individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year. Incometax slab rates for individual for fy 201516 ay 201617. Income tax slab rates 201718 pdf download ay 201819. According to the income tax act, one can claim for tax deductions at the time of paying the tax for the fiscal year, after showing proof that the investments have been made. The above rates include changes implementing changes announced in the 201819 federal budget. The amount of income tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief where income exceeds one crore rupees, the total amount.

There is no change in the basic tax rate and exemption limit for individual, hindu undivided family, association of person, body of individuals and artificial juridical person in assessment year 201617 in comparison to a. Net income range incometax rates health and education cess up to rs. Have a look at the income tax slabs for the financial year 201617. 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.

Income tax department has issued the income tax return for fy 201617 i. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. How to file itr for fy 201617 and all the links you need. Rs 2,500 or 100% rebate in income tax whichever is lower for individuals with income below rs 3. In the following sections we will discuss the income tax rates for fy 20182019 ay 20192020. Income tax slabs for fy 201617 ay 201718 for local authorities. 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. Incometax slab rates for individual for fy 201617 ay 2017. 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. Below are the income tax slab rates for fy 201617 or ay 2017 18. 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. The total taxable income then will be your current income for the financial year minus the investments made for which tax exemptions can be availed. The surcharge will be applicable if the income exceeds rs. Income tax slab rates for financial year 201617 are as follows.