2015-16. Is CFA worth it? *Surcharge: As per Finance Budget 2016 Surcharge has been increased to 15% of the Income tax where taxable Income is greater than Rs.1 crore. ^`. *NRI: Non Resident Individual, HUF:Hindu Undivided Family, AOP: Association of Persons, BOI:Body of Individuals and AJP : Artificial Judicial Person. ���I��P���j�e:�Z�i납��M�p:i�z�\�vC`h�i����RP�&�Ʌ�&'/���!���]7��R�J��&G����yd�.��� ( It was 12% for F.Y.2015-16). �� C��v����u�|=o��I87��D^曯 >�k.H;��oU���g������ؼ�&���'Ca�#�äLJZY��̬�j��c? Surcharge on Income Tax: 12% of the Income Tax payable, in case the total taxable income exceeds Rs.10,000,000. medianet_versionId = "3111299"; Rs.25,000 + 20% of the amount exceeding 500,000, Rs.125,000 + 30% of the amount exceeding 1,000,000, Rs.20,000 + 20% of the amount exceeding 500,000, Rs.120,000 + 30% of the amount exceeding 1,000,000, Rs.100,000 + 30% of the amount exceeding 1,000,000, Income Tax Rates: AY 2021-22 (FY 2020-21), Understanding BSDA – Basic Services Demat Account, Income Tax Rates: AY 2020-21 (FY 2019-20) – Union Budget, Income Tax Rates: AY 2020-21 (FY 2019-20) – Vote on Account, Income Tax Rates: AY 2019-20 (FY 2018-19), Investing through Direct Plan of Mutual Funds, PLEASE CLICK HERE FOR LATEST PERSONAL INCOME TAX RATES. ���-�[>=���0�����N�����--m�|����>1U[R1Cw�����̥ĥ�Q�kbm��Y��jsy�i8R&@0 �5���S��F�vR�xw�,'S�e�;�V|Z$7w��x&�wW8����|V^.��L}�����5�C����P ��^�=�AX�LS��6F�+��;���V���i��u����Lf����Xr��J�S{ρ���b�� ���Z���mT�$��5'i��(����N�x��B}(���LB�^ءɅ�8���N����S For timely filing of your Income tax returns, you must also check our popular blog post : 10 Documents required for E-filing – Just keep them ready ! t_���3T�y�Dr#,Da%Q�oF�!X��\1�05L��#�ZV�ZoOh"�HZ\x��o����GEK�'Uu�/�3��x�W;�2�@C�p����f7���U[-E$za�#gT�S���ӊ����9�O��lҺ��S����gnj For any queries thereon,you can ask in the comment section below. Receipts from SRIT will be collected by HMRC and paid to the Scottish Government. Rebate Under Section 87A of The Income Tax Act. %PDF-1.6 %���� medianet_crid = "358624656"; Claiming LTA,HRA,Home Loans Exemption-New Declaration Form 12BB released. 7�\��X�9&ܱ�tV%���n���7=��n�$vX#�0� medianet_crid = "136337767"; You can also have a look at the Income tax slabs for financial year 2017-18 *Surcharge: As per Finance Budget 2016 Surcharge has been increased to 15% of the Income tax where taxable Income is greater than Rs.1 crore. Analyse. Income Tax on Interest on Savings Bank, FD Account in India. Should You Take the CFA Exam? You can also have a look at the Income tax slabs for financial year 2017-18. Education Cess: 3% of Income Tax plus Surcharge. Income Tax Rates applicable for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) in India is as under: Assessment Year 2016-17, Relevant to Financial Year 2015-16. 2016/17 TAX RATES Peat House Newham Road Truro Cornwall TR1 2DP Telephone: 01872 276116 Fax: 01872 222172 www.rrlcornwall.co.uk ROBINSON REED LAYTON INCOME TAX RELIEFS 2016/17 2015/16 Personal allowance Resident tax rates for 2016-17 Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $87,000 $3,572 plus 32.5c for each $1 over $37,000 $87,001 – $180,000 $19,822 plus Tax Deduction under Section 80 C – Eligible Investments ! Income tax slab rates for FY 2016-17.No change in Income tax slab,same as Financial Year 2015-16.Find out tax rate for Individual,firm,company etc. Learn how your comment data is processed. Your email address will not be published. As per the Union Budget 2016 ,there has been no change in the Income tax slab rates for the financial year 2016-17.The Income tax slabs are the same as that of financial year 2015-16. endstream endobj 152 0 obj <>stream Posted by admin | Tax Calendar, Taxation | 1 |. Income tax is calculated on the Taxable income of an assessee as per the Income tax slab rates that are applicable for the relevant financial year. This site uses Akismet to reduce spam. as pension income of the recipient (ie marginal income tax rates). medianet_versionId = "3111299"; ASBA – Application Supported by Blocked Amount, Check your Demat Account Holding Statement, Charges other than Brokerage for Stock Exchange Transactions, Income Tax Rates: AY 2014-15 (FY 2013-14), Non-Resident Indian (NRI) – Definition under Income Tax Act, Quarterly Average Balance (QAB) vs Monthly Average Balance (MAB), Medical Expenses Allowance vs Medical Expenses Reimbursement, Flat Interest Rate vs Diminishing Balance Interest Rate, All about Securities Transaction Tax (STT). Designed by Elegant Themes | Powered by WordPress. Surcharge shall not exceed the amount of income that exceeds Rs.10,000,000. Aggregator’s services-Caught in the Service tax net ! In the recent past Income tax rule has categorised tax payers like, Senior Citizen , Male Below 60 Years, Female below 60 years, Super Senior citizen above 80 years etc. '�Bw�wwn�l&3���V��I�jR�:���>N���2��h�������C�oX�&T#��첖52�:�x��ibe�w�UIH���2|��+,�t03�|$��}G�͇�A�G�[Ҫ� endstream endobj 151 0 obj <>stream ( It was 12% for F.Y.2015-16).This means the super rich will have to shed more money out of their pockets. Feel free to share your valuable feedback and opinions on the same ! For Individuals below 60 years age (including Woman Assessees): For Individuals aged 60 years and above but below 80 years (Senior Citizen): For Individuals aged 80 years and above (Very Senior Citizen): Tax Credit: Finance Bill 2015 is silent on the Section 87A, which was introduced by Finance Bill 2013 with effect from AY 2014-15 and provides a rebate of Rs. CFA Level 1 Practice Questions, Mock Exam & Quiz, CAMS IPO Review: Date, Price Band, Subscription & Allotment Details, Best Distance Education University in India: Top List 2020, Taxable Income > Rs.250000 but < Rs.500000, 10% of Amount by which Taxable Income > Rs.250000, Taxable Income > Rs.500000 but < Rs.1000000, Rs.25000 + 20% of amount by which Taxable Income > Rs.500000, Rs.125000 + 30% of amount by which Taxable Income > Rs.1000000, Taxable Income > Rs.300000 but < Rs.500000, 10% of Amount by which Taxable Income > Rs.300000, Rs.20000 + 20% of amount by which Taxable Income > Rs.500000, Rs.120000 + 30% of amount by which Taxable Income > Rs.1000000, 20% of amount by which Taxable Income > Rs.500000, Rs.100000 + 30% of amount by which Taxable Income > Rs.1000000, Rs.1000 + 20% of Taxable Income> Rs.10000, Rs.3000 + 30% of Taxable Income> Rs.20000.
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