Table of Contents
What is the income tax slab for AY 2014 15?
Income Tax Slab & Deductions FY 2014-15
| For Men below 60 years of age | For Senior Citizens (Age 60 years or more but less than 80 years) | |
|---|---|---|
| Rs. 2,50,000 | Nil | Nil |
| Rs. 2,50,001 – Rs. 500,000 | 10% | 10% |
| Rs. 500,001 – Rs. 10,00,000 | 20% | 20% |
| Above Rs. 10,00,000 | 30% | 30% |
What is the slab rate for AY 2021 22?
INCOME SLAB AND TAX RATES FOR F.Y. 2020-21/A.Y 2021-22
| Taxable income | Tax Rate (Existing Scheme) | Tax Rate (New Scheme) |
|---|---|---|
| Up to Rs. 2,50,000 | Nil | Nil |
| Rs. 2,50,001 to Rs. 5,00,000 | 5% | 5% |
| Rs. 5,00,001 to Rs. 7,50,000 | 20% | 10% |
| Rs. 7,50,001 to Rs. 10,00,000 | 20% | 15% |
What was income tax slab in 2013 14?
Income Tax Slab & Deductions FY 2013-14
| For Men below 60 years of age | For Senior Citizens (Age 80 years or more) | |
|---|---|---|
| Rs. 2,00,000 | Nil | Upto Rs. 5,00,000 |
| Rs. 2,00,001 – Rs. 500,000 | 10% | Rs. 5,00,001 – Rs. 10,00,000 |
| Rs. 500,001 – Rs. 10,00,000 | 20% | Above Rs. 10,00,000 |
| Above Rs. 10,00,000 | 30% |
What is the income tax slab for AY 2022 23?
Income Tax Slab Rate for FY 2021-2022- Applicable for New Tax Regime
| Income Slab (in Rs.) | Income Tax Rate |
|---|---|
| 7,50,000- 10,00,000 & above | 15% of the amount exceeding Rs. 7,50,000 + Rs. 37,500 |
| 10,00,000 – 1,250,000 | 20% of the amount exceeding Rs. 10,00,000 + Rs. 75,000 |
What is slab rate of income tax?
a. Income tax slab rate for New Tax regime
| Income Tax Slab | New Regime Income Tax Slab Rates (Applicable for All Individuals & HUF) |
|---|---|
| Rs 3.00 lakh – Rs 5.00 lakh | 5% (tax rebate u/s 87a is available) |
| Rs 5.00 lakh- Rs 7.5 lakh | 10% |
| Rs 7.5 lakh – Rs 10.00 lakh | 15% |
| Rs 10.00 lakhs – Rs 12.50 lakh | 20% |
What is Section 87 A in income tax?
Section 87A provides a tax rebate to individual taxpayers if their total income is less than Rs 5 lakh after claiming deductions. Hence, firstly determine taxable income after deductions to check the eligibility of the rebate. Calculate your gross total income and reduce deductions under Section 80C to 80U.
What is slab rate in income tax?
₹12500 + 10% of total income exceeding ₹5,00,000. ₹12500 + 20% of total income exceeding ₹5,00,000. ₹7,50,001 – ₹ 10,00,000. ₹37500 + 15% of total income exceeding ₹7,50,000. ₹62500 + 20% of total income exceeding ₹7,50,000.
What is the income tax slab for AY 2023 24?
2023-24 | F.Y….1.3. Tax rates for AOP/BOI.
| Net income range | Rate of Income-tax | |
|---|---|---|
| Assessment year 2022-23 | Assessment Year 2023-24 | |
| Up to Rs. 2,50,000 | – | – |
| Rs. 2,50,001 – Rs. 5,00,000 | 5% | 5% |
| Rs. 5,00,001 – Rs. 10,00,000 | 20% | 20% |
What is slab rate?
Income tax slabs for individual aged below 60 years & HUF Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore. 15% of income tax, where the total income exceeds Rs.1 crore.
What is the slab rate for AY 2017 18?
| INCOME SLABS | INCOME TAX RATES |
|---|---|
| Upto Rs.2,50,000 | NIL |
| Rs. 2,50,000 to 5,00,000 | 10% of the amount exceeding Rs. 2,50,000 Less: Tax Credit – 100% of income-tax or Rs. 5,000/-, whichever is less *. |
| Rs. 5,00,000 to 10,00,000 | Rs. 25,000 + 20% of the amount exceeding Rs. 5,00,000 |
What is the income tax slab in India for FY14-15?
In income Tax Slab for ay 14-15 / fy 13-14, basic tax exemption limits are the same. The only benefit this financial year is there is a tax credit of Rs 2000 for people having an annual income up to RS 5 Lakh. There is no other benefit as compared to previous financial year There is no change in 10%, 20% and 30% slab rates they remain the same.
What are the basic tax exemption limits for Ay 14-15?
In income Tax Slab for ay 14-15 / fy 13-14, basic tax exemption limits are the same. The only benefit this financial year is there is a tax credit of Rs 2000 for people having an annual income up to RS 5 Lakh.
What is the difference between 10% and 20% tax slab rates?
There is no change in 10%, 20% and 30% slab rates they remain the same. The 10% slab is from RS 2,00,000 to Rs 5,00,000. The 20% slab is from 5,00,001 to RS 10,00,000 and 30% tax slab starts from Rs 10,00,001.