Is there any change in Income tax slab for F. Y. 2014-2015 from F.Y. 2013-2014. If there is change then please update the calulation sheet or file if you have.
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 29 March 2014
there are no major changes, but few changes are there in surcharge and also sec 87 is included for those whose salary is below 5 lakhs.
Regards
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 29 March 2014
|
New Income tax slab for fy 2014-15 / ay 2014-15 |
||
| New Income Tax Slabs for ay 14-15 for Resident Senior Citizens above 60 years (FY 2014-15) | ||
| S. No. | Income Range | Tax percentage |
| 1 | Up to Rs 2,50,000 | No tax / exempt |
| 2 | 2,50,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 10,00,000 | 20% |
| 4 | Above 10,00,000 | 30% |
| New Income Tax Slabs for ay 14-15 for Resident Senior Citizens above 80 years (FY 2014-15) | ||
| S. No. | Income Range | Tax percentage |
| 1 | Up to Rs 5,00,000 | No tax / exempt |
| 2 | 5,00,001 to 10,00,000 | 20% |
| 3 | Above 10,00,000 | 30% |
| New Income Tax Slabs for ay 14-15 for Resident Women (below 60 years) (FY 2014-15) | ||
| 1 | Up to Rs 2,00,000 | No tax / exempt |
| 2 | 2,00,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 10,00,000 | 20% |
| 4 | Above 10,00,000 | 30% |
| New Income Tax Slabs for ay 14-15 for Others & Men (FY 2014-15) | ||
| 1 | Up to Rs 2,00,000 | No tax / exempt |
| 2 | 2,00,001 to 5,00,000 | 10% |
| 3 | 5,00,001 to 10,00,000 | 20% |
| 4 | Above 10,00,000 | 30% |
Ajay Tiwari
(Analyst)
(21 Points)
Replied 18 July 2014
As Per Recent Budget Amendments 2014-15 Upto Rs 2,50,000 Tax is Nil. You can read more on Current Income Tax Slab Here - https://incometaxslabs.co.in/
Prashant K
(.)
(33 Points)
Replied 28 July 2014
Wheather Rebate Under Section 87A Rs 2,000 is for FY 14-15
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 28 July 2014
1. Except the Slab for Resident Senior Citizen above 80 Yrs of Age, the Basic Exemtion for the Resident Individual above 60 Yrs of age and Resident Individual both has been increased by Rs. 50000/-
2. Sec 87A regarding Rebate of Rs. 2000/- is still there.
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