Income tax rates for individual, huf, women, senior citizen for. Latest income tax slabs and free income tax calculator. The constitution of india schedule vii union list entry 82 has given the power to the central government to levy a tax on any income other than agricultural income, which is defined in section 101 of the income tax act, 1961. Last date to file income tax return for non tax audit cases is 31. Income tax rates chart for individuals, hufs, association of persons, body of individuals for a. Here we present to you all income tax slab rates india for past 25 years. Update for the latest 2010 income tax slab click income tax slab 20102011 provides you the latest income tax slabs 20092010 for india, free india income tax calculator 20092010, official government of india finance links, union budget and other india finance news. Heading instructions itr1 for individuals having income from salary pension. Income tax exemption limit subsequent union budget2009 for individual tax payers was increased by rs. Palaniappan chidambaram, the finance minister of india, announced the new personal income tax slab rates while presenting the union budget of india, also called the indian general budget, on friday, february 29, 2008 in new delhi. Net income range income tax rates surcharge education cess upto rs. Know your income tax slab based payout, tax breaks without bothering how to calculate income tax. For individuals below 65 years age, other than woman assessees. Latest income tax calculator 200910 xls download citehr.
Dear sir, i had read he report income tax slabs history in india which gives various details from 1991. Have a look at the past 25 years income tax slab rates for individuals in india. Download simple income tax calculator for fy 200910. New incometax return forms for assessment year 200910 form no.
Finance minister removed the surcharge on income above rs. Reorganizing the different income tax slabs and simplify overall tax. In india, we have a progressive method of taxation, this means the more your income is the more tax you will pay income tax slab are the income slabs defined by the tax department. Step 3 the net agricultural income will then be increased by the amount of exemption limit and incometax is calculated on net agricultural income, so increased, as if such income was the total income of the assessee. Income tax rates in india and comparison with other countries and exemption limits of. Click here to save tax with hdfc lifes various online insurance products. Indian income tax slabs, rates, calculators, itr, challan, tds, pan and other forms in excel fillable pdf, information of i t actrules. Find out the income tax slab rate for ay 201718 here. Here is an easy to use table of latest income tax slabs for your quick reference. For general tax payers including women income slab tax rate 0 to 2,50,000 no tax 2,50,001 to 5,00,000 10% 5,00,001 to 10,00,000 20% above 10,00,000. Income tax is imposed on the basis of ability to pay. Income tax at a glance among direct taxes, income tax is the main source of revenue. Find the income tax slab rates for the last 7 years all at one place 1 f.
Income tax in india is charged at a flat rate for nonindividual assesses. Normal tax rates applicable to a resident individual of the age of 60 years or above at any time during the year but below the age of 80 years net income range incometax rates health and education cess up to rs. It helps to determine the income tax rate at which you will be taxed in india. The new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2008 to march 31, 2009. Income tax rates for assessment year 199293 income slab rs.
The income tax slab fy 1920 is a set of predetermined rates based on which a taxpayers income is assessed. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. One was interim budget presented by finance minister in february 2009 and other one was final budget presented by finance minister in parliament in july 2009. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of. Tax rates as applicable for different persons for the a. The tax rebate is refunded on income tax when the liability is less than the tax paid by an individual. Indian income tax slab rates updates this page is updated yearly with the indian income tax slab rates. New income tax rate slabs for individual, huf, women, senior. Summary, conclusion and suggestions reforming taxation is an on going process, through which tax policy. Know how to avail tax rebate in india under section 80c, 80ccc, 80ccd, section 80d, section ee, section tta, section 87a, section 1010d, section 80 rrb of it act and more. New income tax return forms has been notified wide notification number 322009 dated 27032009 for ay 200910. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. New income tax rates revised slab table after budget2009 income tax exemption limit subsequent union budget2009 for individual tax payers was increased by rs.
You must check out the difference between the 1992 i. Income tax slab rates for non individuals companies. How your income tax has changed over the last 9 years. Currently we have listed slab rates from assessment year 199293 to 2014. Tax slab applicable for assessment year 200910 or financial year 200809. There are lot of changes in tax rates and cess in the last 25 years.
A firm is taxable at the rate of 30% for the assessment year 200910. Tds rates for financial year 200910 from 01st april 2009 to 30th september 2009 as we all aware there were two budgets presented in year 2009. Income between rs 5 lakh to rs 8 lakh will attract 20 per cent tax against the current slab of rs 3 lakh to rs 5 lakh. The income tax law consists of income tax act 1961, income tax rules 1962, notifications and circulars issued by central board of direct taxes cbdt. Income tax slab rates for last 25 years in india 199293. As i have to urgently put up a claim to it dept for refund related to previous 20 years can you please send me the details of entire it slabs surcharge etc from 1991 upto date. Income tax slab rates for the last 7 years yash shindes. The following chart shows the income tax rates for the year 200910 assessment year 201011. 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 2014. Lets plan for the income tax from now on to avoid taking home peanuts at the end of financial year thanks hefty chunk of our salary being deducted as tax. 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. Income tax 200809 assessment year 200910 by gconnect team last updated nov 16, 2008 check this online income tax calculator for estimating your income tax for the year 200809. Assessment year 200809, relevant to financial year 200708. Income tax rates have been lowered in case of all the assessees during the.
Agricultural income tax ait collection in all four provinces amounted to rs1. New incometax return forms for assessment year 2009. Step 4 the amount of incometax determined at step two will be reduced by the amount of incometax determined under step three. Income tax slab of last 20 years from ay 20012002 to ay 2021.
Update for the latest 2010 income tax slab click income tax slab 20102011 modified india income tax slabs 2009 2010 per budget 2009 a detailed table for your ready reference in calculating your income tax based on the latest income tax slabs. Why display the old financial year slabrelating to financial year 200910. Tds rates for financial year 2009 10 from 01st april 2009 to 30th september 2009 as we all aware there were two budgets presented in year 2009. This table is based on the latest income tax slabs income tax rates for 20092010. These rates are applicable on individual assessee, hindu undivided family hufs,association of persons aop and body of individuals boi. Payments made to subscriberemployee from such a fund are not liable to tax sec. Income tax rates for ay 201011 fy 200910 income tax rates ay 2012 income tax rates for ay 201112. Heres how the income tax slabs, surcharges and deduction limits have changed over the past nine years 200910 basic exemption limit raised to rs 1. For resident woman who is below 65 years of age at any time during the previous year. Income tax ratesslab for assesment year rate % 201011 f y 200910 up to 1,60,000 up to 1,90,000 for women nil up to 2,40,000 for. The more a taxpayer earns the more he should pay is the basic principle of charging income tax. New forms are not yet available for download but will be available soon on the income tax deprt website. In case of income over rs 8 lakh, tax would be levied at a rate of 30 per cent which was applicable on income above rs 5 lakh.
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