New income tax slab for ay 2018-19 pdf

This is applicable for the new finacial year 201920. Itr 1 sahaj for ay 201819, itr 1 saral form in pdf format. Income tax slab rates 201718 pdf download ay 201819. This is a short 43 slide power point presentation in pdf which covers all the tax saving sections and investments applicable for tax payers. However, the surcharge shall be subject to marginal relief where income between. Jul 22, 2019 it is time to have new income tax rate for the financial year fy 201819 or for the assessment year ay 201920 after recent budget speech of hon. Individuals below 60 yrs income tax slab rate ay 201819 fy 201718 income tax. Lets get the insights of the income tax slabs for fy 201819 ay 201920 income tax slab for resident individual aged less than 60 years059 years same slab rates shall apply for both male and female resident taxpayers. Feb 15, 2018 new income tax rates, slabs for fy 201819 and ay 201920 as per budget 2018 income tax calculation. New income tax rates, slabs for fy 201819 and ay 201920. Latest income tax slab rates for fy 201819 hdfc life.

Assessment year 2018 19 these will be effective on income earned during 01. Apr 09, 2018 7 tax changes that will impact your money from fy 2018 19 onwards a new financial year may not call for resolutions and lifestyle changes, but your financial life will undergo a quite a few alterations in 2018 19. Income tax slabs for fy 202021 ay 202122 old vs new tax regime income tax slabs for fy 201920 ay 202021 current fy income tax slabs for fy 201819 ay 201920 currently itr filing for only this year can be done till 310320. However, tax rate is 25% if turnover or gross receipt of the company does not exceed rs. In order to gain tax benefits to the fullest, it is essential to understand the current income tax slab rates. Income tax slabs for fy 202021ay 202122 old vs new tax regime income tax slabs for fy 201920ay 202021 current fy income tax slabs for fy 201819ay 201920 currently itr filing for only this year can be done till 310320. Here are the proposed income tax slab rates in india for different categories of tax payers for fy 201819. Fy 202021 ay 202122, fy 201920 ay 202021, fy 2018 19 ay 201920 and last 10 years find updated latest income tax slab rates in india for individuals, company, nri, huf, boi, aop, llp, local authority, cooperative society. The new income tax slab has come into effect from 1 april 2020. Before jumping into latest income tax slab rates fy 201819 ay 201920, first understand the difference between gross income and total income. Surcharge and education cess see note income tax slab rates 201718 pdf download. In the following sections we will discuss the income tax rates for fy 2018 2019 ay 20192020 and some other key features of income tax in india. For individuals, hufs and firms other than llp being a resident having total income upto rs.

However, under old tax regime the basic income threshold exempt from tax for senior citizen aged 60 to 80 years and super senior citizens aged above 80 years is. This new tax system is optional and will coexist with the old one with three slabs and various exemptions and deductions available to the taxpayer. The statement gives details of revenue from all sources, and expenditure on all activities that the government will undertake for the fiscal year. Income tax slabs for individuals are divided into 3 slabs. Here is a look at the latest income tax slabs for fy 201819, fy 201920 and fy 202021. Subramanian, chief economic advisor, and a member of the central board of direct taxes, akhilesh ranjan, has tabled a report on 19 august 2019. Income tax slab rates 201819 pdf download ay 201920. Income tax slab rates for the ay 201819 caclubindia. In the following sections we will discuss the income tax rates for fy 20182019 ay 20192020 and some other key features of income tax in india.

Income tax slab for individual tax payers aged less than 60. The budget 2018 has proposed no changes in the income tax rates and slabs for the fy 201819. Income tax slab rates for fy 201718 ay 201819 fh blog. Income tax slab rate for ay 201819 for individuals 1. This has reduced the tax by 50% for the very first slab. This article contains income tax rate income tax chart income tax slab as applicable for financial year fy 201819 or assessment year 201920 ay to individual resident or nonresident or huf or association of person aop or body of individual boi or any other artificial juridical person, partnership firm, llp, local authority, domestic company, foreign company and cooperative society. More savings on home loans and more tax on the super rich. Catch live updates on new income tax slab, tax rates and exemption limits announced in the union budget 201819. Government of india income tax slab rates for ay 20192020. Many of us have the confusion of understanding what is gross income and what is total income or taxable income. Individuals below 60 yrs income tax slab 201718 ay. Income tax slabsrates for fy 201718 and useful income tax deductions income tax slabs for fy1718.

How to save income tax for salaried and professionals for. How to save income tax for salaried and professionals for fy. Income tax slab rates for financial year 2018 19 have not been changed much in budget 2018. The amount of incometax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. The finance minister has proposed to tax the super rich by increasing surcharge from 12% to 15% if the income earned is more than rs. Click here to save tax with hdfc lifes various online insurance products. The main highlight of personal income tax this year budget is the introduction of standard deduction of 40000 for.

Apr 07, 2018 the new income tax return forms have been notified by the central board of direct taxes cbdt for the assessment year 2018 19 fy 201718. Income tax slab 201819 for female, senior citizen, salaried. However, the surcharge shall be subject to marginal relief where. Apr 18, 2020 check income tax slab for previous years. New income tax slab for financial year 201819 mytaxcafe. New income tax slab rates for ay 201819 fy 201718 pdf. The new forms are form itr1 sahaj, form itr2, form itr3, form itr4 sugam, form itr5, form itr6, form itr7, and form itrv. Income tax slabs income tax rates and deductions for fy 2017.

The report suggests new income tax slabs for individuals and some changes in taxations for businesses. Individuals below 60 yrs income tax slab 201718 ay 201819. Income tax slab rates for senior citizen who has attained the age of 60 years or more but less than 80 years at any time during the financial year 201718. May 12, 2020 the union budget 2020 has brought new income tax slabs regime with reduced rates for those foregoing 70 tax exemptions and deductions under a simplified tax regime. Budget 2020 has announced a new tax regime giving taxpayers an. This amendment will affect every taxpayer other than super senior citizens since the first taxable income slab starts from threshold of rs. Net income range income tax rates health and education cess up to rs.

Itr 1 sahaj for ay 201819, itr 1 saral form in pdf format for ay 201819. There isnt much changes from previous year income tax rate slab. Hdfc life provides the latest income tax slab rates in india for different age groups and tax benefits offered by various life insurance policies, for the financial year 201718. Income tax slab rates for ay 201819 fy 201718 taxup india. Personal tax slabs, rates remain unchanged, standard. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. The new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2018 to march 31, 2019. Income tax slab rates specify the threshold annual income limits at which a higher or lower rate of tax is applicable. Income tax slab rates 201920 pdf download ay 202021. Assessment year 201819 these will be effective on income earned during 01. Latest income tax slabsrates for fy 201718, ay 201819. We are releasing the ebook on tax planning which tells you how to save income tax for fy 201819 ay 201920 for both salaried and professionals.

The last date for filing the income tax return for individuals is july. Mar 19, 2019 itr 1 sahaj for ay 201819, itr 1 saral form in pdf format for ay 201819. Mar 07, 2019 we are releasing the ebook on tax planning which tells you how to save income tax for fy 2018 19 ay 201920 for both salaried and professionals. Income tax slab rate for ay 2018 19 for individuals 1. Cbdt issued new itr forms on 1st april 2018 with changes in itr1 itr2 itr4s itrv for a. The new income tax return forms have been notified by the central board of direct taxes cbdt for the assessment year 201819 fy 201718. Huf for payment of taxes at the following reduced rates from assessment year. Income tax slab rates for fy 201718 ay 201819 studycafe. For the purpose of ascertainment of the applicable tax slab, an individual can be classified as follows. The last date for filing the income tax return for individuals is july 31, 2018. Personal tax slabs, rates remain unchanged, standard reduction raised to rs 40,000. Mar 05, 2017 budget 2017 amended the income tax rate for lowest income tax slab of rs.

Rates of depreciation for incometax for ay 1920 or fy. Find out which income tax slab you will fall into as per income in the financial year 201718 assessment year ay 201819 and accordingly estimatecalculate your income tax liability. Get income tax slab rates for ay 201920 here for individuals, senior citizens, hufaopboi, partnership firms, local authority, corporate assessee, etc get news alerts from on. Income tax slab 201718 ay 201819 budget 2017 from fy 201718, those with annual income between rs 50 lakh to rs 1 crore will be levied a surcharge of 10 per cent. However, under new tax regime person cannot claim up to 70 income tax. Income tax slabs for resident individual below 60 years of age. Fm has announced a new income tax regime following which individuals will have to pay lower taxes for fy 202021 onwards as compared the current tax laws. The amount of income tax shall be increased by a surcharge at the rate of 10% of such tax, where total income between 50 lakhs and one crore rupees above 1 crore 15% surcharge. Income tax slab for individual tax payers aged less than 60 years fy 201819 ay 201920. If a taxpayer opts for the new regime, then his income will be taxed as per the following tax slabs. In case of an individual resident or nonresident or huf or association of person. Arun jaitley, 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 thursday, february 01, 2018 in new delhi. It is time to have new income tax rate for the financial year fy 201819 or for the assessment year ay 201920 after recent budget speech of hon. Net tax payable including education cess is rs 5,150.

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 201718. New income tax rates, slabs for fy 201819 and ay 201920 as per budget 2018 income tax calculation. The finance act, 2020 has inserted a new section 115bad in incometax act to. However, cess has been hiked to 4 per cent from 3 percent. Income tax slab rates for financial year 201819 have not been changed much in budget 2018. New tax regime slab rates are not differentiated based on age group. Apr 14, 2020 income tax slabs ay 201415 fy 2014 income tax slabs ay 201516 fy 201415 income tax slabs ay 201617 fy 201516 income tax slabs ay 201718 fy 201617 income tax slabs ay 2018 19 fy 201718 income tax slabs ay 201920 fy 2018 19 income tax slab rates for ay 201011 fy 200910 resident male individuals aged less than 65 years. Income tax calculator the annual union budget, presented by the finance minister, is the yearly financial statement that contains the governments revenue and expenditure for a fiscal year. Income tax slabs for financial year 201718 assessment year 1718. We will update the new income tax slab rates for the assessment year 201819 and the financial year 201718 with the example in pdf format. The tax you save on this amount will depend on the income tax slab you are in.

Finance minister mr arul jaitley on 1st february 2018. Where its total turnover or gross receipt during the previous year 201819. Catch live updates on new income tax slab, tax rates and exemption limits announced in the union budget 2018 19. New income tax return forms for ay 201819 fy 201718. Download itr1 sahaj form in pdf format for ay 201819. Budget 2017 amended the income tax rate for lowest income tax slab of rs. Depreciation allowance as percentage of written down value. Income tax slab for the ay 201819 resolved caclubindia. Individuals below 60 yrs income tax slab 201718 ay 201819 income tax slab income tax rate income upto rs. Before jumping into latest income tax slab rates fy 2018 19 ay 201920, first understand the difference between gross income and total income. Income tax slabs for ay 201819 fy 201718 for individuals. For fy 201718, the tax rebate under section 87 of the income tax act was limited to rs. Budget 2018 impact on income tax slabs for ay 2018.