How to calculate income tax fy 2016 17 fincalc tv fincalc tv. One must file an income tax return to justify hisher income. Income tax rates for financial year 201617 tax rates individual. Income tax rates for fy 201516 ay 201617 for all categories. Service tax rate chart for fy 201617 with service tax. Income tax rates for fy financial year 201516 ay assessment year 2016 17,for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Service tax rate chart for fy 2016 17 and ay 20172018 upto 1st june 2016 service tax rate increased from 14. Partnership firm for the assessment year 201617, a partnership firm including llp is taxable at 30%. Incometax slab rates for individual for fy 201617 ay. Income tax slab for filing tax return on income in india. Latest income tax slabs and rates for fy 201516 and ay 201617.
Latest income tax slabs in india fy 201617 or as 201718. Income tax rates for assessment year 20172018 previous year 201617 income tax rates for assessment year 20162017 previous year 201516 income. Income tax slabs income tax rates fy 201516 av 201617. Individuals with taxable income below rs 5,00,000 are allowed to claim a tax rebate of rs 5,000 on tax payable from fy 201617. Which itr form to fill for fy 2016 17 and tips on how to fill it the government has mandated quoting of aadhaar enrolment number while filing. Get income tax slab rates and income tax deductions in india for assessment year ay 2016 17. Knowing your income tax slab rate helps you get an idea of how much tax you will be paying in a year. There have been few variations made in the tax slab for fy 201617 w. Download income tax slab for ay 2016 17 in pdf, download latest income tax slab rates for fy 201516 or income tax slab rates for ay 2016 17. Incometax slab rates for individual for fy 201516 ay. Taxpayers are, therefore, not required to file a wealth tax return from assessment year 2016 17 onwards.
Income tax slab rates for fy 201617 ay 201718 budget. This rate will continue to be the same as that specified for the financial year 201516. The central board of customs and excise reported that in financial year 201516, indirect taxes grew faster at 24% than direct taxes which increased at a rate of 15. Incometax slab rates for individual for fy 201617 ay 201718. We are tax consultants based in delhi and provide itr filing services, company registration, pan, tds, service tax, esi, epf registration and returns. How to calculate income tax fy 201617 fincalc tv youtube.
Wealth tax is no longer leviable with effect from the assessment year 2016 17. Income tax slabs for fy 201617 ay 201718 for local authorities. A site for easy to use online tax and other calculators, forms compiled in excel and fillable pdf formats with without autocalculation formulas and information. Normal rates of tax applicable to all individuals who are less than 60 years of age. We provide you the latest income tax rates in india for everyone and tax benefits for the current financial year 201617, to know more about income tax slab. However, for assessment year 201718, tax rate is 29% if turnover or gross receipt of the company does not exceed rs. Wealth tax no longer leviable from assessment year 201617. Find latest income tax slabs, rates, brackets for fy 20192020 ay 20202021 in india.
The rate of incometax in the case of every local authority is specified in paragraph d of part iii of the first schedule to the bill. Articles explains rates of incometax in respect of income liable to tax, minimum alternative tax rate, securities transaction tax stt. You can download the itr forms which are in pdf format. Here is a primer on income tax slab rates for ay 201617 fy 201516. Senior citizen individual resident who is of the age of 60 years or more but below the age of 80 years at any time during the previous year. For the assessment year 201617 and 201718, a domestic company is taxable at 30%.1241 361 544 179 799 459 1123 1320 1043 80 550 236 1299 508 83 1186 710 1319 957 211 1439 254 5 1512 1234 1266 332 1580 392 658 1103 608 517 1286 1030 609