Slab rate for fy 2016-17 pdf

Hence from the above article we have come to a conclusion that income tax slab rates decreased a bit as compared to fy 201617. Professional tax assam is payable at the rate of rs. Cooperative societies, firms local authorities and llps. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax. You can see income slab and income tax rate for fy 201617 ay 201718 applicable for the period from 01. Incometax slab rates for individual for fy 201718 ay 201819 incometax slab rates for individual for fy 201617 ay 201718. 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. Many filing details remain unchanged, whereas there may be changes in a few. Service tax rate chart for fy 201617 and ay 20172018 upto 1st june 2016. Income tax slab 201718 income tax slabs rate chart for assessment year 201718 f. In the event of any change, we do not assume any responsibility to update the tax rates consequent to such changes. Today we are providing income tax slab rates for assessment year 201617. Normal rates of tax applicable to all individuals who are less than 60 years of age sr no. Comparison of income tax slabs for fy 201718 and fy 201617.

Latest income tax slab rates for fy 201617 assessment year 20172018 in india. Income tax slabs for fy 201617 ay 201718 general public income tax slab 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 tax up to rs. As there was no change in income tax slabs for fy 201516 i. Ca sandeep kanoi, income tax rate chart, income tax rates, rate chart, tax rate changes, tax rates. In this post, let us discuss about income tax slab rates for fy 201617 ay 201718. Income tax slabs for financial year 201617 fintrakk. Ay is assessment year latest income tax slab rates for fy 201617. However, the surcharge shall be subject to marginal relief where income exceeds one crore rupees, the total amount payable as income.

Applicable income tax rates investments in mutual fund schemes. Rs 2,500 or 100% rebate in income tax whichever is lower for individuals with income below rs 3. Income tax slabs for fy 2016 17 budget 2015 has made no change in the income tax slab. 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. Incometax slab rates for individual for fy 201617 ay 201718. Income tax slab rates for fy 201617 ay 201718 budget 201617. For the assessment year 201617, a partnership firm including llp is taxable at 30%. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers.

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. Rate of incometax assessment year 202122 assessment year 202021 up to rs. 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. Income tax slab rates ay 201920, fy 201819, income tax. Certain income of nonresident, interalia, dividend, interest, royalty or fees for technical services shall be taxable as per the rates prescribed under the incometax act or as per the rates prescribed under the dtaas, whichever is more beneficial to such nonresident. Surcharge will be applicable at the same rate as before. Incometax slab rates for individual for fy 201516 ay. Income tax slabs income tax rates and deductions for fy 2017. 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. 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. Latest tds rate chart, tdstcs rates chart for financial year 201617 assessment year 20171 is listed here.

But the tax slabs have not been changed for the last few years. Income tax slab rate for persons having age above 80 years and above we have described in the following table. Individuals below 60 yrs income tax slab 201617 ay 201718. These tax rates are applicable on the income earned during 1 april 201631 march 2017. 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. 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. Now i am giving you the tax slab and rates of the financial year 201617. Incometax slab rates for individual for fy 201617 ay. The proposals of the draft direct taxes code bill, 2010 have not been considered herein 2. Latest income tax slabs and rates for fy 201516 and ay. The rates are applicable for the financial year 201617. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt. We give below the income tax rates and slabs applicable for the fy 201516 or ay 201617.

Ay 201617, the following rates were also applicable for fy 201415 ay 201516 latest income tax slabs in india fy 201617 or as 201718. Income tax rates for financial year 201617 tax rates individual. Income tax slab rate for the fy 201415 and assessment year 201516, rate chart of income tax after budget 2014. For income tax purpose citizens above age of 60 are considered as senior citizens and above age. Tdstcs rates chart fy 201617 ay 201718 budget 201617. 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. Bihar professional tax slab rates for financial year 201617. Income tax slabs for fy 201617 ay 201718 for firms in the case of firms, the rate of incometax has been specified in paragraph c of part iii of the first schedule to the bill. In previous article, we have given frequently asked questions on income tax return filing and complete details on pan or permanent account number. Income tax slab rates for fy 201617 ay 201718 budget. The surcharge will be applicable if the income exceeds rs.

Interest rate of service tax for fy 201617 resolved. This rate will continue to be the same as that specified for financial year 201516. Income tax slab rates for fy 201617 ay 201718 basunivesh. Every year tax payers need to make a note of changes announced in the budget that reflect in the income tax efiling forms. Income tax slabs rate in india for financial year 20192020.

Tds rules major amendments cbdt notification 302016 dated 29042016 click here. The normal tax rates applicable to a resident individual will depend on the age of the individual. Tax benefits under the policy are subject to conditions under section 80c, 80d, 1010d and other. No change in income tax slab,same as financial year 201516. It is the duty of the deductor to deduct tds as given in income tax act following are the revised rate of tds applicable for financial year 2016 2017 assessment year 201718.

Individual resident in india below the age of 60 years and for huf, aop, boi and ajp. 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. Further tax rebate is also rs 2500,which is dissatisfying. Premium rates declared by the government vide letter no. Professional tax slab rates in india for financial year. The tax slab for fy 2016 17 for foreign companies will continue at the rate of 40%, same as the previous financial year. Normal rates of tax applicable to all individuals who are less than 60 years of age.

Income tax surcharge rate for fy 201617 and computation. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. However it has increased the surcharge from 12% to 15% applicable for income above rs 1 crore. Whenever, as a result of change in pay slabs, the premium already. You should take account of this income tax slab rate. The monthly premium payable by the insured under the insurance scheme shall be such as is specified below or revised by government order from time to time. The updated chart of tax deduction at source for fy 201617 or ay 201718 is as under.