New slab rate of income tax 2013-14 pdf

The income tax slabs were reduced to 5 and only the portion above the tax free. There will be no surcharge on income tax payments by individual taxpayers during fy 2012 ay 2014 2. Reorganizing the different income tax slabs and simplify overall tax. This is the income tax slabs for financial year 2012 and the analysis year 2014. The finance minister introduced new tax regime in union budget, 2020 wherein there is an option for individuals and huf hindu undivided family to pay taxes at lower rates without claiming deductions under various sections. Income tax slabs income tax rates fy 2014 av 201415. Pranab mukherjee, the finance minister of india, announced the new personal income tax slab rates while presenting the union budget of india, also called the indian general budget, on friday, march 16, 2012 in new delhi. There are three categories in income tax slabs which is for individual, senior citizen and senior citizen with the age of 80 years and more.

Union budget 2020 has proposed a new tax structure by slashing income tax rates and rejigging the income tax slabs to reduce total tax liability by individuals. Income tax rates in india and comparison with other countries and exemption limits of all. Nonresident individualhuf net income range income tax rates health and education cess up to rs. Hdfc life provides the latest income tax slab rates and deductions in india for tax payers in different age groups and tax benefits offered by its online insurance products, for the financial year 2014. Slabrate for assessment year 2014 and income tax rates for f. Government of india income tax slab rates for ay 202014. Tax slabrate for assessment year 2014 and income tax rates for f. Through finance act, 20 a new section 165a has been introduced. Union budget 2014 presented by p chidambaram today kept income tax rates unchanged in view of rising fiscal deficit. Income tax rates for fy financial year 2012 ay assessment year 2014,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. For individuals below 60 years age including woman assessees. Income tax structure 2014 assessment year 201415 budget highlights. Income tax slab from assessment year 20012002 to a. The table shows the tax rates you pay in each band if you have a standard personal.

Income tax rates for year 2014, 2012, 20112012, 20112011 for filing income tax returns in india for salaried and business income of individuals. Click here to save tax with hdfc lifes various online insurance products. Have a look at revised income tax slabs and know how much will you save in new tax regime. In addition, the tax rate on dividends was raised from 25 percent to. Full income tax slabs, education cess, surcharge and higher education cess for financial year 2012 are as follows.

Income tax slab for filing tax return on income in india. As proposed in the new tax regime, 70 tax exemptions will be removed but the income between rs 5 lakh and rs 7. Assessment year 2014, relevant to financial year 2012. The rate of minimum tax under section 1 on the income of certain persons has. Income tax budget 2020 proposes crucial changes in income tax rates 202021. Income tax slabs income tax rates and deductions for fy 2014.