income tax slabs for last ten years. to file income tax return of the financial year. you have to see the income tax slabs for assessment year. income tax slab 2011-12. income tax rates 2010-11, income tax slabs 2009-10.
New income tax regime Vs Old Income Tax Regime - what is good for you Husys Consulting Ltd
In this document, we looked at the differences between the New Income Tax Regime and how our old Income Tax Regime. How is it useful for employees. There is a clear difference in using these regimes. Employees are allowed to use any of these.
#hrexpert #hrservices
#labourlaws #payrollmanagement #hrbusinesspartner #eor #peo #hrsupport #hrtechnology
#hrconsulting #gigworkers
#careerstargroup
#smebusiness #hr #hrconsultancy #hrtech
#hroutsourcing #smesector #outplacement
#msme #globalworkforce #payrolling #indiapeo #indiaentry #smesurvival #peoindia #hrcloud #indiapayroll #listing
Follow Husys on :
Linkedin : https://www.linkedin.com/company/143536/
Facebook : https://www.facebook.com/Husys
Twitter : @Husys
Slide Share : https://www.slideshare.net/grhusys/
Any questions can be directed to: reach(at)husys.com Phone : +91-9948078937 (India)
Did you know you can get tax benefit on paying rent. This presentation explains what is HRA and how you can claim it to save tax.
To calculate HRA exemption: https://tax2win.in/tax-tools/hra-calculator
To know more about HRA: https://blog.tax2win.in/hra/
In this presentation, we will discuss new slab rates, their comparison with old rates and limitations of the new tax regime.
you can also download the calculator from the below link which helps you to calculate tax liability under both the old tax regime and new tax regime.
https://drive.google.com/open?id=1yYYMEAs0VnEU0M3laHFgT89hXVchm2a2&fbclid=IwAR1QwBW5Cqr2lWXvzVl7hCrA46Pr_J_ZPjJF2MQyOEj5epY6Oleilfgp0bw
income tax slabs for last ten years. to file income tax return of the financial year. you have to see the income tax slabs for assessment year. income tax slab 2011-12. income tax rates 2010-11, income tax slabs 2009-10.
New income tax regime Vs Old Income Tax Regime - what is good for you Husys Consulting Ltd
In this document, we looked at the differences between the New Income Tax Regime and how our old Income Tax Regime. How is it useful for employees. There is a clear difference in using these regimes. Employees are allowed to use any of these.
#hrexpert #hrservices
#labourlaws #payrollmanagement #hrbusinesspartner #eor #peo #hrsupport #hrtechnology
#hrconsulting #gigworkers
#careerstargroup
#smebusiness #hr #hrconsultancy #hrtech
#hroutsourcing #smesector #outplacement
#msme #globalworkforce #payrolling #indiapeo #indiaentry #smesurvival #peoindia #hrcloud #indiapayroll #listing
Follow Husys on :
Linkedin : https://www.linkedin.com/company/143536/
Facebook : https://www.facebook.com/Husys
Twitter : @Husys
Slide Share : https://www.slideshare.net/grhusys/
Any questions can be directed to: reach(at)husys.com Phone : +91-9948078937 (India)
Did you know you can get tax benefit on paying rent. This presentation explains what is HRA and how you can claim it to save tax.
To calculate HRA exemption: https://tax2win.in/tax-tools/hra-calculator
To know more about HRA: https://blog.tax2win.in/hra/
In this presentation, we will discuss new slab rates, their comparison with old rates and limitations of the new tax regime.
you can also download the calculator from the below link which helps you to calculate tax liability under both the old tax regime and new tax regime.
https://drive.google.com/open?id=1yYYMEAs0VnEU0M3laHFgT89hXVchm2a2&fbclid=IwAR1QwBW5Cqr2lWXvzVl7hCrA46Pr_J_ZPjJF2MQyOEj5epY6Oleilfgp0bw
From the current financial year 2020-21, Individuals & HUFs are having an option to select between old tax system & New Tax system to discharge their tax obligations. CBDT has recently issued a circular clarifying that employees need to intimate their respective employers regarding their choice and accordingly employer shall compute TDS. However in the absence of intimation, employer shall proceed according to existing tax system. Our tax team has explained the nuances of old and new tax system alongwith detailed comparison making the selection easy.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. GST subsumed various indirect laws in the country and the led to the formation of a common national market. In this webinar, we shall understand the background and rationale for the introduction of GST in India. We shall understand the overview of the law behind GST.
Computation of total income & tax liability individual, Partnership Firm,...CA Abhishek Bansal
Computation of total income & tax liability individual. Rebate U/s 87A, Surcharge, Tax On Partnership Firm, Individual, Companies, Society & Trust, Health & Education Cess, Foreign Company
Presentation on Residence and tax liability, ppt on Residence and tax liabilityLeena Gauraha
Presentation on Residence and tax liability, ppt on Residence and tax liability, Residence and tax liability, Different Residential status, types of Resident, Residential status: Sec. 6 (1), Basic Conditions to determine residential status, Additional conditions [Sec. 6(6)(a)] to determine residential status, Conditions to be satisfied to be a resident, Residential Status in a nutshell.
From the current financial year 2020-21, Individuals & HUFs are having an option to select between old tax system & New Tax system to discharge their tax obligations. CBDT has recently issued a circular clarifying that employees need to intimate their respective employers regarding their choice and accordingly employer shall compute TDS. However in the absence of intimation, employer shall proceed according to existing tax system. Our tax team has explained the nuances of old and new tax system alongwith detailed comparison making the selection easy.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. GST subsumed various indirect laws in the country and the led to the formation of a common national market. In this webinar, we shall understand the background and rationale for the introduction of GST in India. We shall understand the overview of the law behind GST.
Computation of total income & tax liability individual, Partnership Firm,...CA Abhishek Bansal
Computation of total income & tax liability individual. Rebate U/s 87A, Surcharge, Tax On Partnership Firm, Individual, Companies, Society & Trust, Health & Education Cess, Foreign Company
Presentation on Residence and tax liability, ppt on Residence and tax liabilityLeena Gauraha
Presentation on Residence and tax liability, ppt on Residence and tax liability, Residence and tax liability, Different Residential status, types of Resident, Residential status: Sec. 6 (1), Basic Conditions to determine residential status, Additional conditions [Sec. 6(6)(a)] to determine residential status, Conditions to be satisfied to be a resident, Residential Status in a nutshell.
Tax Rates for Assessment Year 2021 22 | CA Sana BaqaiSana Baqai
For the assessment year 2021-22 i.e. for Financial year 2020-21 the tax rates for individuals, partnership firms, LLP, Indian Companies, Foreign Companies are defined in this document.
The tax rates may vary from year to year and changes in tax rates take place every year through Unio Budget announced by Finance Minister in the month of February.
1. Income tax slabs of last 12 years
Firms, partnership, Companies, foreign company,
(INCOME TAX RATES FOR INDIVIDUAL ,HUF ,BOI,AOP,
Cooperative Societies)
By
Shankar Bose
Inspector of Income-tax
MSTU, Puri
2. It is a general demand to know about Income tax slabs of last 12 years. Normally one
need to remember it in once a year when there is a time to fill return. But if we look
broad, it is the thing which we need to remember all the year and often some people also
need the income tax slabs for the past years also. So there are income tax slabs of the
last 12 financial as well as assessment year which may be very useful.
ASSESSMENT YEAR 2012-2013
RELEVANT TO FINANCIAL YEAR 2011-2012
I TAX RATES FOR INDIVIDUALS OTHER THAN II, III & IV BELOW
Upto 1,80,000 - Nil
1,80,000 to 5,00,000 - 10% of the amount exceeding 1,80,000
5,00,000 to 8,00,000 - Rs.32,000 + 20% of the amount exceeding 5,00,000
8,00,000 & above - Rs.92,000 + 30% of the amount exceeding 8,00,000
II TAX RATES FOR RESIDENT WOMEN BELOW 60 YEARS
Upto 1,90,000 - Nil
1,90,000 to 5,00,000 - 10% of the amount exceeding 1,90,000
5,00,000 to 8,00,000 - Rs.31,000 + 20% of the amount exceeding 5,00,000
8,00,000 & above - Rs.91,000 + 30% of the amount exceeding 8,00,000
III TAX RATES FOR INDIVIDUAL RESIDENTS AGED 60 YRS AND ABOVE & BELOW 80
YEARS (SENIOR CITIZEN)
Upto 2,50,000 - Nil
2,50,000 to 5,00,000 - 10% of the amount exceeding 2,50,000
5,00,000 to 8,00,000 - Rs.25,000 + 20% of the amount exceeding 5,00,000
8,00,000 & above - Rs.85,000 + 30% of the amount exceeding 8,00,000
IV TAX RATES FOR INDIVIDUAL RESIDENTS AGED 80 YRS AND ABOVE (VERY SENIOR
CITIZEN)
Upto 5,00,000 - Nil
5,00,000 to 8,00,000 - 20% of the amount exceeding 5,00,000
8,00,000 & above - Rs.60,000 + 30% of the amount exceeding 8,00,000
There is no surcharge in the case of every individual, Hindu undivided family,
Association of persons and body of individuals.
EDUCATION CESS
The amount of Income-tax shall be increased by Education Cess of 3% on Income-tax.
3. INCOME TAX RATES FOR AY 2006-07 TO AY 2011-12 FOR
INDIVIDUAL ,HUF ,BOI,AOP
Assessment year Rate Resident Resident Sr General/others
woman citizen
2011-12 Nil Up to 190000 Up to 240000 Up to 160000
10% 190000- 240000-500000 160000-500000
500000
20% 500000- 500000-800000 500000-800000
800000
30% Above 800000 Above 800000 Above 800000
Surcharge: NIL
Cess: 3% on Income Tax (2 % education cess ,1% Higher
secondary cess)
2010-11 Nil Up to 190000 Up to 240000 Up to 160000
10% 190000- 240000-300000 160000-300000
300000
20% 300000- 300000-500000 300000-500000
500000
30% Above 500000 Above 500000 Above 500000
Surcharge: NIL
Cess: 3% on Income Tax (2 % education cess ,1% Higher
secondary cess)
2009-10 Nil Up to 180000 Up to 225000 Up to 150000
10% 180000- 225000-300000 150000-300000
300000
20% 300000- 300000-500000 300000-500000
500000
30% Above 500000 Above 500000 Above 500000
Surcharge: 10 % on Income Tax if income Exceeding Rs 10,00,000
Cess: 3% on Income Tax & surcharge (2 % education cess ,1%
Higher secondary cess)
2008-09 Nil Up to 145000 Up to 195000 Up to 110000
10% 145000- 195000-300000 110000-300000
300000
20% 300000- 300000-500000 300000-500000
500000
30% Above 500000 Above 500000 Above 500000
Surcharge: 10 % on Income Tax if income Exceeding Rs 10,00,000
Cess: 3% on Income Tax & surcharge (2 % education cess ,1%
Higher secondary cess)
2006-07 and Nil Up to 135000 Up to 185000 Up to 100000
2007-08 10% 135000- 185000-300000 100000-300000
300000
20% 300000- 300000-500000 300000-500000
500000
30% Above 500000 Above 500000 Above 500000
Surcharge: 10 % on Income Tax if income Exceeding Rs 10,00,000
Cess: 2% on Income Tax & surcharge (2 % education cess )
4. Income Tax Rates/Slabs for A.Y. (2004-05 & 2005-06)
Slab (Rs.) Tax (Rs.) Surcharge on Income Tax
(If TI > Rs.8.50 Lakhs) (Rs.)
less than 50,000 Nil Nil
50,000 to 60,000 (TI – 50,000) * 10% 10%
60,000 to 1,50,000 1,000 + (TI – 60,000) * 20% 10%
Greater than 1,50,000 19,000 + (TI – 1,50,000) * 30% 10%
Income Tax Rates/Slabs for A.Y. (2003-04)
Slab (Rs.) Tax (Rs.) Surcharge on Income Tax
(If TI > Rs.60,000) (Rs.)
Less than 50,000 Nil Nil
50,000 to 60,000 (TI – 50,000) * 10% 5%
60,000 to 1,50,000 1,000 + (TI – 60,000) * 20% 5%
Greater than 1,50,000 19,000 + (TI – 1,50,000) * 30% 5%
Income Tax Rates/Slabs for A.Y. (2002-03)
Slab (Rs.) Tax (Rs.) Surcharge on Income Tax
(If TI > Rs.60,000)
Less than 50,000 Nil Nil
50,000 to 60,000 (TI – 50,000) * 10% 2%
60,000 to 1,50,000 1,000 + (TI – 60,000) * 20% 2%
Greater than 1,50,000 19,000 + (TI – 1,50,000) * 30% 2%
Income Tax Rates/Slabs for A.Y. (2001-02)
Slab (Rs.) Tax (Rs.) Surcharge Surcharge
TI > 60,000 TI > 1,50,000
Less than 50,000 Nil Nil Nil
50,000 to 60,000 (TI – 50,000) * 10% 12% 17%
60,000 to 1,50,000 1,000 + (TI – 60,000) * 20% 12% 17%
Greater than 1,50,000 19,000 + (TI – 1,50,000) * 12% 17%
30%
5. Firms, partnership, Companies, foreign company,
Cooperative Societies
Firms. Assessment Years 2008-2009, 2009-2010 and 2010-2011. The firm is taxable at 30 per
cent. Surcharge is 10% of the net income exceeds Rs. 1 crore. The education cess** is 3% of
the income tax and surcharge*.
A partnership is treated as a separate entity for tax purpose. A partnerhip with a proper
partnership deed is taxed as a partnerhip, and if no partnership deed exists, it is taxed as
AOP. Normally it is better to be taxed as partnership. Partnership can pay salary and
allowances to the partners (which partners must report of their individual tax returns) and
take deduction for it. The partnership profit after paying income tax is not taxable in the
hands of partners.
Companies. Assessment Years 2008-2009, 2009-2010 and 2010-2011. (i) For the domestic
company the tax rate is 30%. Surcharge is 10% of the net income exceeds Rs. 1 crore. The
education cess is 3% of the income tax and surcharge*. For the Assessment Year 2011-12 the
surcharge is 7.5% of the net income exceeds Rs. 1 crore.
(ii) For a foreign company the tax rate is 40%. Surcharge is 2.5% of the net income exceeds Rs.
1 crore. The education cess** is 3% of the income tax and surcharge*.
Cooperative Societies. Assessment Years 2008-2009, 2009-2010 and 2010-2011. Income up to
Rs. 10,000: 10%; Income Rs. 10,000 to Rs. 20,000: 20%; Income Rs. 20,000 and above: 30%. No
surcharge is applicable. The education cess** is 3%.
*Marginal relief. For net income over Rs. 1 crore, the net amount payable as income tax and
surcharge shall not exceed the total amount payable as income tax on total income of Rs. 1
crore by more than the amount of income that exceeds Rs. 1 crore.
** Here the term Education Cess includes Education Cess of 2% and Secondary and higher
education cess of 1%.
Thanks