Which is the tax slab for FY 2014-15?
Which is the tax slab for FY 2014-15?
1. 2. income tax, income tax return, tax filing, income tax slab, tax rate, tax slab, ay 2015-16, fy 2014-15 This article explains about the various income tax, surcharge and education cess applicable to an Indivudal of different age for the financial year 2014-15 or assessment year 2015-16. Not filed yet?
What is the tax rate for financial year 2014-15?
Please note that the Income of Financial Year 2014-15 is taxable at the tax rate applicable for Assessment Year 2015-16. The Budget 2014 has changed the Income Tax slab rates slightly as compared to the income tax rates of financial year 2013-14.
What are the slab rates for income tax?
Foreign Company 40% Nil 2%* of the Income Tax 5%** of the Income Tax 2% of Income Tax & Surcharge 1% of Income Tax & Surcharge Co-operative Societies Net Income Range Income Tax Rates Surcharge Education Cess Secondary & Higher Education Cess
Which is the tax slab for one crore?
Type Income Tax Rates Net income upto Rs. 1 Crore Net Income is in Range of Rs.1 Crore to Rs.10 Crore If Net Income exceeds Rs 10 Crore Education Cess Secondary & Higher Education Cess Domestic Company 30% Nil 5%* of the Income Tax 10%** of the Income Tax 2% of Income Tax & Surcharge 1% of Income Tax & Surcharge Surcharge
Which is the tax slab for age 81?
If the total income of an individual of age 81 years is Rs. 6,50,000/- then the total income tax on this Rs. 6,50,000/- as per the income tax slab given above will be Rs. 30,000/- (Income tax is Nil for income up to Rs. 5 Lacs and thereafter it will taxed @ 20% on Rs. 150,000).
What is the income tax slab in India?
(ii) In the case of every individual, being a resident in India, who is of the age of sixty years or more but less than eighty years at any time during the previous year,— i. Where the total income does not exceed Rs. 3,00,000/-.
What are the income tax rates for 2014-15?
As per the Finance (No. 2) Act, 2014, Rates of Income Tax Applicable for the financial year 2014-15 (i.e. Assessment Year 2015-16) are as under: A. Normal Rates of tax (applicable to all Individuals/HUF who are less than 60 years of age) 1. 2. 3. Rs. 25,000/- + 20 per cent of the amount in excess of Rs. 5,00,000/- 4.