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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In Budgetthe government announced additional deduction of Rs 50, for first time home buyers on loan up to Rs 35 lakh soabs the property value is less than Rs 50 lakh. In addition cess and surcharge is levied as follows: Keeping this ffor mind we offer a large range of life insurance plans such as term insurance planwomen’s planhealth insurance planspension plans for retirement planningchild education plansULIPs income tax slabs for ay 2015-16, saving and investment plans.
Hence the government has made a rule where in LPG subsidy will not be available to any consumer who earns more than Rs. 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.
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These tax calculations are based on present tax legislations, which are subject to change The aggregate deductions from income under Sections 80C, 80CCC income tax slabs for ay 2015-16 80CCD applicable in case of central government employees only should not exceed Rs 1 lakh.
This income has been calculated by including income from all sources such as salary, rental income, and interest income. As such, it becomes important to report your income for the coming fiscal to the respective tax authorities. Taxable income is more than 1Cr. Individuals with taxable income below Rs 5,00, are allowed to claim a tax rebate of Rs income tax slabs for ay 2015-16, on tax payable from FY An online unit linked plan with life insurance cover.
The government came up with the decision to limit supply of under priced fuel to cut subsidies. FAQs Frequently asked Questions.
Income Tax Slab Rates For AY (FY )
The above-mentioned tax benefits are income tax slabs for ay 2015-16 to changes in the tax laws. Knowing your income tax slab rate helps you get an idea of how much tax you will be paying in a year. Such tax slabs tend to undergo a change during every budget. Tax paid by non-corporate assessees is called as Income-tax, and for payment of the same in the challan it is incomr be mentioned as Income-tax other than Companies Income-tax is levied on the annual income of a person.
August 18, All the data listed above is for the FY and AY Rohit has a total taxable income of Rs 8,00, Some of them even requested for higher tax exemptions for senior citizens as well.
Also, make it a habit to report all your incomes and expenditures to the best of your knowledge to the tax authorities. Above figures calculated for an individual with gross annual income exceeding Rs. Check now in less than 3 min! However, if you have wrongly paid taxes during a fiscal, you can claim refunds from the IT department for the excess funds.
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Income Tax Slabs and Rates for AY 2015-16
Joshi Marg, Mahalaxmi, Mumbai Public receiving such phone calls are requested to lodge a police complaint. Previous Article Next Article. Our vision is to provide income tax slabs for ay 2015-16 and customer-centric insurance plans that can help our customers secure their family’s ibcome as well as help them with other benefits such as tax savings.
A term insurance plan that provides you protection at an affordable cost Know More. In Budgetthis limit was raised from 12 per cent. Get done in 7 mins. 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 Please contact your tax consultant for an exact income tax slabs for ay 2015-16 of your tax liabilities.
Let us call you. The joint forum income tax slabs for ay 2015-16 said that tea should be grouped in the same category as flour, pulses and salt, when it comes to taxation rates, since they all represent high consumption products.
All households were entitled to 12 cylinders of For the first category of individual taxpayers, the tax slabs and rates are applicable as per following.
To learn more about the income tax slabs AYclick here. Taxpayers are broadly categorized into:.
For instance, the salary you receive from your employer will be released every month only after deducting the applicable TDS on the amount. For individual taxpayers the due date is 31st July of xlabs assessment year. But the tax slabs have not been changed for the last few years.
In India, income income tax slabs for ay 2015-16 is levied on individual taxpayers on the basis of a slab system where different tax rates have been prescribed for different slabs and such tax rates keep increasing 215-16 an increase in the income slab. The year under the Income-tax Law is the period starting from 1st April and income tax slabs for ay 2015-16 on 31st March of next calendar year.
This is over and above Rs 1. For every filing done by referral you earn Rs File all GST returns for your clients with automated data reconciliation – No download required. On the Challan, what does income tax on companies and income tax other than companies mean?