Nincome tax ay 2014-15 pdf

Rate of taxable income1 tax taxable income1 tax taxable income1 tax. Income tax slabs for financial year 201415 mytaxcafe. We provide you the latest income tax rates in india for everyone and tax benefits for the current financial year 201415, to know more about income tax slab. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax. Longterm taxexempt rate for ownership changes during the current month the highest of the adjusted federal longterm rates for the current month and the prior two. It was established by the father of the nation bangabandhu sheikh mujibur rahman under. I forgot to file my income tax return for ay 201415. Tax 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 30%. Calculation of tds on salary for fy 2014 ay 201415. Income tax slabs for financial year 201718 assessment year 1718.

Now most of the taxpayer dont need the service of the chartered accountant. Income tax slab for financial year 201415 posted on. Detailed article on the income tax slabs for fy 2014 and ay 201415. Itr 1 sahaj this return form is to be used by an individual whose total income for the assessment year 201718 includes. Further assessee can prepare return offline and upload return on filing portal. Find full list of all incomes who completely exempt from income tax. Rates of incometax, surcharge and additional surcharge. For that, it is necessary to learn the tax slab for the current financial year 2014 or assessment year 201415. Please note that the income of financial year 201415 is taxable at the tax rate applicable for assessment year 201516. 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.

Income tax amendment for the assessment year 201415. Surcharge is levied on the amount of incometax at following rates if total income of an assessee exceeds specified limits. The below table will give you details of usage of forms by assessee. Section 115ba relief in tax for newly setup domestic companies on or after 1. Income tax department has started the e filing of income tax return itr forms for the assessment year 201415 by releasing the two income tax return utilities java based. Income tax slabs and rates for fy 202021 bankbazaar. Rate of income tax for individual a slab rate assessment year 201415. List of all incomes exempted from income tax, list of exempted incomes 2020. Amendments to the act, relating to filing of return of income, applicable with effect from ay 201415. Government is also trying hard to 100% shift to efiling. Additional surcharge on income tax secondary and higher education cess on incometax. List of all incomes exempted from income tax, list of.

India income tax slabs 20142015 for general tax payers and women income tax slab in rs. Ca sandeep kanoi income tax rate chart income tax slabs as applicable for assessment year 201516 financial year 201415 for. Income tax rates for ay 201516 financial year 201415. Rates of incometax fy 2014 ay 201415 as per finance act, 20 as per the finance act, 20, incometax is required to be deducted under section 192 of the act from income chargeable under the head salaries for the financial year 2014 i.

Income tax rate slab changed for financial year 201415 and the analysis year 201516 on the union budget. I am attaching herewith book titled fast track quick revision of income tax for ay 201415, which can be extremely useful for students who are appearing for for ca, cs, cma exam may june 2014 attempt. Generally, such late return are filed in response to income tax notice. Fast track quick revision of income tax for ay 201415. Income tax calculation sheet fy 2014, ay 201415 citehr.

Income tax amendments applicable for the assessment year. 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 201415. Latest income tax slab rates, today we provide complete list of all incomes exempt from income tax. Save tax with hdfc lifes various online insurance products. But, in normal case, an assessee has to file an application with the relevant tax authority to explain the delay in filing the tax return. Income tax slabs income tax rates fy 201415 av 201516. In case of resident individual and huf, where tax liability arises only because of the inclusion of long term capital gains, tax to be levied at 20% or 10% as the case may be, on the. The following are the revised tax rates for individuals and business. Income tax rates for financial year 2012 and ay 2014.

Income tax rates and slabs undergo modification and change every year with the change and addition in the union budgets. A salaried person can easily efile income tax return using his form 16. How to save income tax through cost inflation index. The itr forms to file income returns for ay 201415 are as follows. The basic tax scale and marginal rates for the 201415 financial year have been in place for three financial years.

There will be no surcharge on income tax payments by individual taxpayers during fy 201112 ay 2012. Like agriculture income completely exempt under sec 10 1 etc. The income tax department has come out with all return form applicable for ay 201415. Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Such an index is used for various purposes, including in income tax. Paripatra2014 income tax paripatra income tax 202014. Rate of surcharge assessment year 202122 assessment year 202021. Income tax returnitr form ay 201415 now available itr1. In modern india income tax was introduced by sir james wilson on 24 july 1860. Income if the total turnover or total gross receipt of the company in the previous year 201415 does not exceed five crore rupees rs. What does intimation us 1431 of income tax act mean.

Submission of a tax residency certificate is a necessary but not a sufficient condition for claiming benefits under the agreements referred to in sections 90 and 90a. This year as well, the indian finance minister nirmala sitharaman announced multiple changes that have taken place in the budget. Income tax slab tells the tax rate at which you have to pay tax on income. In india, section 48 of the income tax act defines the index as what is notified by the central government every year, having regard to 75% of average rise in the consumer price index cpi for urban non. Updated my previous excel sheet to calculate income tax liability for fy 2014, ay 201415 this discussion thread is closed. For the purpose of section 179 and 167c of income tax act, 1961, tax due includes penalty, interest or any other sum payable under the act. Now income tax exemption is raised by 50000 to 250000. Income tax slabs income tax rates and deductions for fy 2017. Section 223a, 235c, 150, 151, 181a, 231a, 231b, 236c, 236g, 236k concept of filer and non filer transactions section rates filer nonfiler i deduction of tax on dividend 150 10% 15% ii deduction of tax on profit on debts exceeding rs. Income tax department has issued a circular about tds on salary and all the aspects of income tax on salary, different circulars and notifications, forms, deduction on salary etc. Five categories chargeable to tax categories tax treatment ceiling rs. Income tax return forms, itr for ay 201415 or fy 2014 the income tax department has released the income tax return forms for assessment year 201415 financial year 2014. Highlights of change in direct taxes in the union budget 20 1. Fy 201415 note the new government has presented the budget for ay 201516 on 10.

The amount of incometax shall be increased by education cess on income tax at the rate of two percent of the incometax. Filing of income tax returns itr in july 2014 national portal of. Given below are the various tables for the latest income tax slabs for the fy 20202021. If you want to continue this discussion or have a follow up question, please post it on the network. India income tax slabs 20142015 for senior citizens aged 60 years but less than 80 years. The national board of revenue nbr is the apex authority for tax administration in bangladesh. Income tax circular 2014 circular, income tax 2012 amendment of income tax ordinance section 19. Income tax, capital gains tax, and inheritance tax personal and agerelated allowances. The basic exemption limit has been increased from rs 2 lakh to rs. Union budget 2014 has amended the basic income tax slabs for financial year 201415, however there is no change in the income tax rates, surcharge and cess. This is the income tax slabs for financial year 2012 and the analysis year 2014. These are the forms you need to file your income tax returns for the income earned between april 1st 20 and march 31st 2014.