Income Tax Slab For F.Y.2014-15
Do you like this post?
In a marginal relief to the
individual taxpayers, Finance Minister Arun Jaitley on Thursday increased the
income tax exemption limit from Rs 2 lakh to Rs 2.5 lakh for citizens up to 60
years.
For senior citizens the limit was hiked to Rs 3 lakh. The tax rates were kept unchanged by FM.
New tax slabs:
For senior citizens the limit was hiked to Rs 3 lakh. The tax rates were kept unchanged by FM.
New tax slabs:
Upto 2.5 lakh - NIL;
Above 2.5-5 lakh - 10%;
Rs 5-10 lakh - 20%;
Above Rs 10 lakh - 30% ;
Sr. Citizen: Above 60(Upto
3lakh)
Above 80(Upto Rs 5
lakh)-NIL
In Budget 2013-14, the
government had made the tax slabs same for men and women. Those with taxable
income above Rs 2 lakh but up to Rs 5 lakh have to pay tax at 10%.
For those with taxable income
of more than Rs 5 lakh but less than Rs 10 lakh, the tax rate is 20%. Income
above Rs 10 lakh is taxed at 30%.
Long Term Capital Gain tax will be increase from 10% to 20%.
The government will enhance the Public Provident Fund (PPF) savings limit from Rs 1.1 lakh to Rs 1.5 lakh, said Jaitley. Looking to improve the EPFO facilities for the citizens of Ind ..
Long Term Capital Gain tax will be increase from 10% to 20%.
The government will enhance the Public Provident Fund (PPF) savings limit from Rs 1.1 lakh to Rs 1.5 lakh, said Jaitley. Looking to improve the EPFO facilities for the citizens of Ind ..
The government has hiked the
housing interest rate deduction limit to Rs 2 lakh from Rs 1.5 lakh on personal
home loans.
Here Tax Slab Chart as per Budget 2014 presented by F M shri Aurn Jaitley are as follows:
Here Tax Slab Chart as per Budget 2014 presented by F M shri Aurn Jaitley are as follows:
India Income tax slabs
2014-2015 for General tax payers and Women
|
Income tax slab (in Rs.)
|
Tax
|
|
0 to 2,50,000
|
No tax
|
|
2,50,001 to 5,00,000
|
10%
|
|
5,00,001 to 10,00,000
|
20%
|
|
Above 10,00,000
|
30%
|
India Income tax slabs
2014-2015 for Senior citizens
(Aged 60 years but less than 80 years)
|
Income tax slab (in Rs.)
|
Tax
|
|
0 to 3,00,000
|
No tax
|
|
3,00,001 to 5,00,000
|
10%
|
|
5,00,001 to 10,00,000
|
20%
|
|
Above 10,00,000
|
30%
|
India Income tax slabs
2014-2014 for very senior citizens
(Aged 80 and above)
|
Income tax slab (in Rs.)
|
Tax
|
|
0 to 5,00,000
|
No tax
|
|
5,00,001 to 10,00,000
|
20%
|
|
Above 10,00,000
|
30%
|
Subscribe to:
Post Comments (Atom)
0 Responses to “Income Tax Slab For F.Y.2014-15”
Post a Comment