Indian income tax system follows income tax slabs for levying the tax on the income of an individual or nonindividual. Income tax slabs income tax rates fy 201112 av 2012. The amount of incometax shall be increased by education cess on. Income tax rates for assessment year 2012 resident senior citizens above 80 years super senior citizens. Last 25 years income tax rates linkedin slideshare. Income tax slab rates for last 25 years in india 199293. Income tax rates after budget 2012 is available here income tax rate chart slabs for assessment year 201112 and earlier years has been given chart form as under in respect of individual, hufhindu undivided family,boibody of individuals so download the charts for link given below or you can read the same online as shown below. For normal category the simple calculation is as follows. Nonresident tax rates change from 1 july 2012 from 1 july 2012, the first 2 marginal tax rate thresholds are merged into a single threshold, which aligns with the second marginal tax rate for residents 32. Latest income tax slabs and rates for fy 2012 and as. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax benefits offered by its online insurance. In india, we have a progressive method of taxation, this means the more your income is the more tax you will. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. This is the income tax slabs for financial year 2012 and the analysis year 2014.
However, maximum relief has been provided to low salary income and the relief gradually decreases with the increase in salary. For individuals below 60 years age including woman assessees. Latest income tax slabs in india fy 201617 or as 201718. In the budget 20 announcement the tax slabs has been broadened for men and senior citizens by the indian finance ministry. Income tax department income tax return statistics. Click here to save tax with hdfc lifes various online insurance products. 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. Please click on the links below to view the income tax also written shortly as i. Assessment year 2012, relevant to financial year 201112. The slab of income tax rates for fy 2012 ay 2014 is to some extent different from that of slab of fy 1112 ay 2012. You must check out the difference between the 1992 i. Labels how to save money 1 investment plans 1 investment tips 2 investment tools 1 investments 9 money saving tips 1 save money 1 tax 18 tax deduction limits 1 tax saving 1.
Latest income tax slabs and rates for fy 2012 and as 2012. Tax slab for financial year 201516 assessment year 1617. This category is abolished from this year and is thus is same as that of. Net income range rate of income tax assessment year 202122 assessment year 202021 up to rs. Find the income tax slab rates for the last 7 years all at one place 1 f. Use our free income tax calculator for getting an idea of how much tax you will. There are three categories in income tax slabs which is for individual, senior citizen and senior citizen with the age of 80 years and more.
Income tax rates for financial year 2012 and ay 2014. Income tax income tax rates ay 2012 fy 2011 referencer. Income tax rates slabs for the financial year 20112012 a. Income tax slabs income tax rates and deductions for fy 20. Further tax slab for 20% has not extended from 8,00,000 to rs. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. The latest income tax slabs and rates for fy 201920 are mentioned below.
There are lot of changes in tax rates and cess in the last 25 years. Under the new rates, individuals who are earning up to rs. Looking for the income tax slabs and rates for the financial year 201112 or assessment year 2012. Income tax is one thing which every salaried man on the street is interested in. Income tax rates in india and comparison with other countries and exemption limits of.
The good news is the income tax slabs has been altered by the finance minister pranab mukarjee in budget 2012 today. Itpb2012ec islamabad, the 27th july, 2012 circular no. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. The 2012 non resident tax scale is here school kids bonus. Assessment year 2014, relevant to financial year 2012. Here we present to you all income tax slab rates india for past 25 years. Plzz anyone can tell me the slab of professional tax in maharashtra for f y 2012 income tax.
Income tax slabs for fy 2012, what are income tax rates for individuals, hufs, firms and corporate. Latest income tax slabs and rates for fy 2012 and as 2014. Lets first understand what is income tax slab in india. Taxable income in 10% slab maximum tax will be rs 32000. The amount of income tax as computed in accordance with above rates, and after being reduced by the amount of tax rebate shall be increased by a surcharge at the rate of 5% of such income tax, provided that the total income exceeds rs. The latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget. The amount of income tax shall be increased by education cess on income tax at the rate of two per cent of the income tax. The tax rates increase with the increase in income of an assessee. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Tax exemption limit raised to rs 2 lakhs and tax rates has changed for other slabs too. Have a look at the past 25 years income tax slab rates for individuals in india.
The following it rates were applicable for the financial year ending march 31, 20 financial year 2012 assessment year 2014. Applicable to individual male below the age of 60 years and huf. Under the budget 2020, the finance minister nirmala sitharaman announced a deduction in income tax rates. Income tax rates for fy financial year 201112 ay assessment year 2012,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Income tax rates for assessment year 199293 income slab rs. For individuals below 60 years age, other than woman assessees. After changing of these limits and changes in maximum benefits to female is rs. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows. The normal tax rates applicable to a resident individual will depend on the age of the individual.
New income tax slab 201920budget 2019 find latest income tax slab rates in india for individuals, nri, huf, boi, aop, llp, local authority, cooperative society and company. Income tax rates income tax slabs bihar chamber of commerce. Looking for the income tax slabs and rates for the financial year 2012 or assessment year 2014. Income tax slab rates for the last 7 years yash shindes. Assessment year ay 2014 the latest income tax slab to calculate your tax for year 201220 based on budget 2012 budget.
The average salary income is the average salary income within the value range slab i. Income tax rates applicable for the financial year fy 2012 and assessment. Download income tax slab rates for fy 2012 file in docx. The new and revised income tax slabs and rates applicable for the financial year fy 201112 and assessment year ay 2012 are mentioned below.
Income tax slab rate for fy 2012 pdf income tax rates. From 2012, women were also a part of the general slab. Income tax department income tax return statistics assessment year 2012. Income tax ratesslabs for financial year 201112 assessment year 2012 exemptions, deduction capital gain, set off carry forward losses a small ready reckoned by. Income tax slab for filing tax return on income in india. I ndian income tax system follows income tax slabs for levying the tax on the income of an individual or. Income tax rates for year 2014, 2012, 20112012, 20112011 for filing income tax returns in india for salaried and business income of individuals. Another significant change in this budget was abolishing lower tax slab for women. However, in case of a nonresident individual the tax rates will be same irrespective of his age. Income tax rates slashed by the government in budget 2020.