Income tax slab for ay 2016-17 pdf

See below income tax slab rates for individual resident aged below 60 years, senior citizen, super senior citizen, any nri huf aop boi ajp, cooperative society, firm, local authority, domestic company and other company for assessment year ay 2016 17. Tax slab ay 201617 individualhufboiaopajp india itr. Last year income tax department has released the final income tax return form in last week of june,due to which income tax return due date has extended and lately due date in audit cases was also extended after the court interference. Tax is charged at different rates on the range of income falling under different income tax slabs. Today we are providing income tax slab rates for assessment year 201617. Income tax slabs for partnership firms there is a flat tax rate for partnership firms and llps limited liability partnerships and they are to pay income tax at the rate of 30%.

In the case of firms, the rate of income tax has been specified in paragraph c of part iii of the first schedule to the bill. In this post, we will discuss the relative changes in the tax slab for 2016 17 for different entities. There are many queries related to itr 1 like itr 1 acknowledgement. Apr 01, 2016 cbdt has released new income tax return form for assessment year 2016 17. 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. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax slab income tax rate income.

This article provide quick excel income tax calculator for fy 201516 ay 201617 for individual resident whose age is below than 60 years i. However, the surcharge shall be subject to marginal relief where income. The amount of income tax 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. Cooperative societies, firms local authorities and llps. Fy 202021 ay 202122, fy 201920 ay 202021, fy 201819 ay 201920 and last 10 years find updated latest income tax slab rates in india for individuals, company, nri, huf, boi, aop, llp, local authority, cooperative society. Itr 1 sahaj download for ay 201617 who can use itr 1.

The total amount of professional tax paid during the year is allowed as deduction under the income tax act. 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. Comparison of income tax slabs for fy 201718 and fy 201617. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. There are many queries related to itr2a like itr2a acknowledgement. Instructions for sahaj income tax return ay 2016 17 general instructions these instructions are guidelines for filling the particulars in this return form. For income tax purpose citizens above age of 60 are considered as senior citizens and above age of 80 are considered very senior citizens. Income tax slab 201718 income tax slabs rate chart for assessment year 201718 f. Condonation of delay under section 1192b of the income tax act, 1961 in filing of return of income for a.

Paripatra2014 income tax paripatra income tax 202014. Here is a primer on income tax slab rates for ay 2016 17. March 1 to 15, 2016 u taxmanns corporate professionals today u vol. In case of any doubt, please refer to relevant provisions of the income tax act, 1961 and the income tax rules, 1962. The following income tax rates are applicable for the financial year ending march 31, 2016 i. 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. A rebate of income tax is allowed under section 87a in respect of resident individual whose taxable income is up to rs. The tax slab for fy 201617 for cooperative societies, firms local authorities and llps will continue at the same rate as the previous financial year. Indian finance minister, shri arun jaitley has tabled today, the union general budget 201617 in the parliament. Income tax slab rates for fy 201617 ay 201718 budget. 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 rates for financial year 201617 tax rates individual.

Ay is assessment year latest income tax rates for fy 201516. Jan 06, 2018 itr 2a download for ay 201617, applicability of itr 2a. As speculated, the income tax department has notified the itr forms for assessment year 201617 much earlier, though the schema for electronic filing is yet to be made available hope to get it soon as well. 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 201718 pdf download ay 201819. 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. Get income tax slab rates and income tax deductions in india for assessment year ay 2016 17. This rate will continue to be the same as that specified for the financial year 201516. Income tax slabs income tax rates and deductions for fy 2017. Income tax at a glance among direct taxes, income tax is the main source of revenue. Download income tax slabs for individual, huf, company, aop, foreign company with surcharge details. Income tax slabs for fy 201617 ay 201718 for local authorities.

Incometax slab rates for individual for fy 201516 ay. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617. Mar 17, 2016 march 1 to 15, 2016 u taxmanns corporate professionals today u vol. Instructions for sahaj income tax return ay 201617 general.

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. The income tax rates are usually revised every year during the budget. Income tax slab rates for ay 2016 17 video youtube. Find everything you want to know about itr 4s sugam. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 201617 ay. 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.

The surcharge will be applicable if the income exceeds rs. Itr forms for ay 201617 paper filing format has been notified by the income tax department. Income tax slab rates for individual for fy 201718 ay 201819 income tax slab rates for individual for fy 2016 17 ay 201718. For the assessment year 201617, a partnership firm including llp is taxable at 30%. Download rebate us 87a for ay 201617 file in pdf format. But the tax slabs have not been changed for the last few years. But the surcharges are varied depending on the income. 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. However, the surcharge shall be subject to marginal relief where income exceeds one crore rupees, the total amount payable as income. Quick excel income tax calculator for fy 201516 ay 201617. 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. This rate will continue to be the same as that specified for financial year 201516. Income tax slab rates for financial year 201516 assessment. Income tax is imposed on the basis of ability to pay.

Health and education cess is levied at the rate of 4% on the amount of incometax plus surcharge. Rates of income tax for fy 201516 ay 201617 cabharatbshah. The income tax slab is remain unchanged in this financial year. 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. Aug 14, 2019 indian finance minister, shri arun jaitley has tabled today, the union general budget 2016 17 in the parliament. Now you can scroll down below n download income tax slab for ay 201617 in pdf. So, refer the above table for the local authorities surcharges. Itr 4s sugam, applicability, download for ay 201617.

The income tax slab for hindu undivided family huf is the same as the tax slabs for individuals under the age of 60 years in the year 2019 2020. Various deductions that are allowed to a taxpayer under section 80c, section 80d etc. 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 201516 assessment year201617. Incometax slab rates for individual for fy 201617 ay 2017. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. Income tax slab rates ay 201920, fy 201819, income tax. Nov 18, 2011 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. The exemption limit for income tax has also increased more than 10 times from rs. We have not gone through income tax forms in detailed but itr1 and itr2 are more or.

Itr 2a download for ay 201617, applicability of itr 2a. 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. Incometax slab rates for individual for fy 201617 ay. Highest tax rate including surcharge has come down from 56% in fy 199091 to 30.

But payment of stamp duty etc and possession of the house have to happen in the same financial year 201617. Income tax slab rates for ay 201617 local authorities local authorities are taxable at a rate of 30%. Income tax department has issued the income tax return for fy 201617 i. Apr 18, 2020 check income tax slab for previous years.

Hdfc life provides the latest income tax slab rates and deductions in. Below are the income tax slab rates for fy 2016 17 or ay 2017 18. The above income tax rates are for general category men women who are below 60 years of age. 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. Income tax slab rates specify the threshold annual income limits at which a higher or lower rate of tax is applicable.

However, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. See below income tax slab rates for individual resident aged below 60 years, senior citizen, super senior citizen, any nri huf aop boi ajp, cooperative society, firm, local authority, domestic company and other company for assessment year ay 201617. 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. In the following sections we will discuss the income tax rates for fy 20182019 ay 20192020 and some other key features of income tax in india.

New tax regime slab rates are not differentiated based on age group. 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. Income tax rates for financial year 201617 taxmann. The finance minister has introduced many changes in the income tax slab rate for financial year 20192020 ay 20202021. Income tax slab rates for ay 201617 local authorities.

Net income range income tax rates health and education cess up to rs. Assessment year for which this return form is applicable. New income tax return filing forms for ay 2016 17 are now available after getting notified on 30th march, 2016 by the income tax department. Feb 22, 2017 as the slab rates are not fixed we have provided the income tax calculator for each assessment financial year separately. 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. Today we are providing income tax slab rates for assessment year 2016 17. This calculator is exclusively designed for bank employees based on the 10th bipartite settlement with additional calculation of income tax on arrears.

The maximum amount of pt that may be levied by any state in a financial year is rs 2500. As i have to urgently put up a claim to it dept for refund related to previous 20 years can. The latest income tax slabs for ay 201920, ay 202021 and ay 202122 are discussed in this article. Apr 16, 2016 the income earned and taxes paid are communicated to the income tax department. Surcharge and education cess see note income tax slab rates 201718 pdf download. Incometax slab rates for individual for fy 201516 ay 201617. 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.

However, under new tax regime person cannot claim up to 70 income tax. 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. Mar 03, 2018 itr 4s sugam, applicability, download for ay 201617. Following are the income tax slab rates and deductions for different categories of. Based on the annual income earned by an individual, the following table. 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. Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. For the assessment year 2016 17, a partnership firm including llp is taxable at 30%. Income tax slab for fy 201516 ay 201617 income tax slab for fy 201415. Income tax slabs for fy 2016 17 ay 201718 for firms. For income tax purpose citizens above age of 60 are considered as senior citizens and above age.

Mar 01, 2016 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. Normal rates of tax applicable to all individuals who are less than 60 years of age. For financial year 201617 department has merged the different itr and numbering of itr has been changed and after read more. Below are the income tax slab rates for fy 201617 or ay 2017 18. 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. Such tax slabs tend to undergo a change during every budget. The income tax return filing forms are available here cometaxindia. Income tax circular 2014 circular, income tax 2012 amendment of income tax ordinance section 19. All assessees are required to file income tax return each year if they have taxable income of more than rs. Get income tax slab rates and income tax deductions in india for assessment year ay 201617. Income tax deduction 80c ay 201617 income tax deduction 80gg ay 201617 income tax deduction 80tta ay 201617 pricing. Income tax rate will continue to be applied at 30%.