Income tax slab rate 2016-17 pdf

This video by fincalc tv explains the process of calculating income tax for a particular financial year fy 201617. Service tax rate chart for fy 201617 with service tax. 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 latest income tax slabs for ay 201920, ay 202021 and ay 202122 are. Income tax is imposed on the basis of ability to pay. 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. The amount of incometax shall be increased by a surcharge at the rate of 12% of.

Income tax slab every year amendments are made to the income tax act by proposing a finance bill which directly decides the threshold limits for various tax rates. The age groups are up to age 60, age 60 to 80 and above age 80. Find out the income tax slab rate for ay 201718 here. Incometax slab rates for individual for fy 201516 ay 201617 tax. The maximum rate of income tax is capped at 30% in india, though surcharge and educational cess are also applicable if you earn over. 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. Here is a primer on income tax slab rates for ay 201617 fy 201516. The income tax rate for nonindividual is provided in the union budget 2016, presented in parliament on 29th february 2016.

Incometax slab rates for individual for fy 201516 ay. 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. Tax slab ay 201617 individualhufboiaopajp india itr. Income tax at a glance among direct taxes, income tax is the main source of revenue. Income tax slab rates for financial year 201516 assessment year201617 resident super senior citizen who is 80 years or more at any time during the previous year net income range income tax. 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.

It got the assent of the president of india on th may 2016. The age of the individual is the factor to divide the slab rates in the income tax table. As i have to urgently put up a claim to it dept for refund related to previous 20 years. Individuals with taxable income below rs 5,00,000 are allowed to claim a tax rebate of rs 5,000 on tax payable from fy 201617. The table shows the tax rates you pay in each band if you have a standard personal. Individuals below 60 yrs income tax slab 201617 ay 201718. 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 fy 201617 ay 201718 budget. Service tax rate chart for fy 201617 and ay 20172018 upto 1st june 2016 service tax rate increased from 14. Knowing your income tax slab rate helps you get an idea of how much tax you will be paying in a year.

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 ay 201617 local authorities. Incometax slab rates for individual for fy 201617 ay 201718. Income tax slab 201718 income tax slabs rate chart for assessment year 201718 f. Health and education cess is levied at the rate of 4% on the amount of incometax plus surcharge. Comparison of income tax slabs for fy 201718 and fy 201617. This means higher income earners pay a proportionately higher tax, with the current highest personal income tax rate at 22%. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt, commodities transaction tax. Income tax slab rates for financial year 201617 have not been changed much in budget 2016. New income tax slab for financial year 201617 mytaxcafe. But the tax slabs have not been changed for the last few years. Income tax slab rates 201819 pdf download ay 201920. This rate will continue to be the same as that specified for the financial year 201516. Income tax slab rates for fy 201617 ay 201718 budget 201617.

Incometax slab rates for individual for fy 201617 ay. Income tax slab rates for non individuals companies. Under the new tax regime in union budget 2020, pay taxes at lower rates without claiming deductions under various sections. 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 products, for the financial year. 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. 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. 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. Rate for lowest income tax slab slashed to 5% from 10%, surcharge of 10% on income above rs 50 lakh an individuals tax is calculated according to the income tax slabs. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991.

Where the income of an individual chargeable under the head. Income tax slab rates for ay 201617 local authorities local authorities are taxable at a rate of 30%. Education cess ec of 2 per cent and secondary and higher education cess shec of 1 per cent is levied on the tax payable. For the assessment year 201617, a partnership firm including llp is taxable at 30%. 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. Income tax slabs for individuals are divided into 3 slabs. Income tax slab for fy 202021 pdf download income tax. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. 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. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. Income tax slabs 202021 new income tax slabs, brackets. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account. Income tax slabs for fy 201617 ay 201718 for local authorities.

Singapores personal income tax rates for resident taxpayers are progressive. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers. Income tax slab for individuals, senior citizens, hufaop, etc. Income tax slabs income tax rates and deductions for fy 2017. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total. The surcharge will be applicable if the income exceeds rs.

The income tax slab fy 1920 is a set of predetermined rates based on which a taxpayers income is assessed. 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. The income tax slabs are the same as that of financial. Incometax slab rates for individual for fy 201415 ay 201516. Individuals below 60 yrs income tax slab 201718 ay. Latest income tax slab rates for fy 201617 assessment year 20172018 in india. The finance minister has proposed to tax the super rich by increasing surcharge from 12% to 15% if the. The following income tax slabs are applicable for the financial year 201819 i.