8 Mar RATES OF INCOME-TAX FOR F.Y. (A.Y. ) As per the Finance Act, , Rates of Income Tax Applicable for the financial year. 15 Jun Please click on the links below to view the Income Tax Slabs and Rates for the Assessment Year (applicable on income earned during. 18 Aug But the tax slabs have not been changed for the last few years. Here is a primer on income tax slab rates for AY (FY ).
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For individual taxpayers the income tax slabs for ay 2015-16 date is 31st July of the assessment year. File all GST returns for your clients with automated data reconciliation – No download required.
The tax that is to be paid by the companies on their income is called as corporate tax, and for payment of same in the challan it is mentioned as Income-tax on Companies Corporation tax An online unit linked plan with life insurance cover.
Sllabs Super senior citizens above 80 years of age. False or withheld information can slabe cause you to pay heavy penalties as well as other legal issues. The year under the Income-tax Law is the period starting from 1st April and ending on 31st March of next calendar year. Log In Sign Up.
The main points that have helped the salaried class has been, the rationalisation of TDS, powers of the Assessing officers being reduced, presumptive tax limit increased from Rs. The limit was raised in Budget from Rs 2, How does the government collect the taxes? Invest in best performing Mutual funds for building income tax slabs for ay 2015-16 term wealth. Paid E-filing by Income tax slabs for ay 2015-16 CAs. Income-tax is levied on the annual income of a person.
FY denotes fiscal year and lasts from April to March, while AY stands for assessment year which denotes the year you actually pay your slabw years taxes in. Plans start from Rs. A term insurance plan that provides you protection at an affordable cost Know More.
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Income Tax Slabs – Income Tax Rates and Deductions for FY – HDFC Life
Earlier inthe government had asked people who are better off financially to give up their subsidies LPG and but cooking gas at the market price but not many paid heed to it.
All the data listed above is for the FY 2015-1 AY Check now in less than 3 min! File Now in 7 mins.
There are three categories of individual taxpayers: Trusted by 25 Lakh Indians. Please contact your tax consultant for an exact calculation of your tax liabilities. 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 In Budgetthis limit was raised from 12 per cent. The Income-tax Law classifies the year as i Previous year, and ii Assessment year.
NDTV Beeps – your daily newsletter. The government came up with the decision to limit supply of under priced fuel to cut subsidies. Instruments that qualify under Section 80 C include public provident income tax slabs for ay 2015-16, employees provident fund, tax-saving mutual funds, 5-year fixed deposits. This has lead to a lot of disappointment among the salaried class. FAQs Frequently asked Questions.
Income tax is a major source of revenue for income tax slabs for ay 2015-16 around the world, and the Indian government is no exception.
Income Tax Slab & Rate for FY 2018-19, 17-18 & 16-17
Resident Senior citizens 60 years and above but below 80 years of age 3. Taxpayers are broadly categorized into:. This income has been calculated by including income from all sources such as salary, rental income, and interest income. Rohit has a total taxable income of Rs 8,00, Small savings scheme are in focus as well, whereinmany citizens have asked for higher investment limit under Section 80C income tax slabs for ay 2015-16 the Income Tax Act.
income tax slab for a.y.
Keeping this in mind we offer a large range of life insurance plans such as term insurance planwomen’s planhealth insurance planspension plans for retirement planningchild education plansULIPssaving and investment plans. Also, make it a habit to report all your incomes and expenditures zlabs the best of your knowledge to the tax authorities. Abolishing service tax completely has been the ask of many people, if not completely some have requested the abolishing of service tax at least on utilities bills and insurance premiums.
These tax income tax slabs for ay 2015-16 are based on present tax legislations, which are subject to change The aggregate deductions from income under Sections 80C, fkr and 80CCD applicable in case of central government employees only should not exceed Rs 1 lakh.
Hence the government has made a rule where in LPG au will not be available to any consumer who earns more than Rs. This is over and above Rs 1. But the tax slabs have not been changed for the last ihcome years.
Get done in 7 mins. Income Slans Rates are levied according to the divisions given above. Read more Read less. Same slabs and rates are income tax slabs for ay 2015-16 for FY and AY To learn more about the income tax slabs AYclick here.
In Budgetthe government announced additional deduction of Rs 50, for first time home buyers on loan up to Rs 35 lakh provided the property value is less than Rs 50 lakh. The above-mentioned tax benefits are subject to changes in the tax laws.