The document includes the list of various benefits available to an individual or an huf. A comparative analysis of income tax calculation for fy 202021 ay 202122 under the existing tax slab and the new income tax slabs introduced in budget 2020 can be understood by comparing taxable income under both scenarios. Have you computed how much income tax you need to pay this year. Here is the income tax slab for the financial year 201617 or assessment year 201718, which will help you find. The national board of revenue nbr is the apex authority for tax administration in bangladesh. One must file an income tax return to justify hisher income. Income tax slabs income tax rates and deductions for fy 2017. Income tax slab rates for ay 2017 18 internet archive. Have a look at revised income tax slabs and know how much will you save in new tax regime. It is deductible from income tax before calculating education cess. In budget 2017, the government did not change income tax slabsrates but gave a. This year the honorable finance minsiter of india, piyush goyal has presented the interim. Income tax slab rates for hindu undivided family huf part i.
In case of a resident senior citizen who is 60 years or. Find updated latest income tax slab rates in india for individuals. In this regard, to avail tax advantages to its fullest, it is crucial to understand the existing income tax slab for the fiscal year 201920. As per law, you can get tax benefits in the form of deductions to your total. Income tax slab rate for ay 202021 for individuals. Income tax slab every year amendments are made to the income tax act by proposing a finance bill which directly decides the threshold limits for various tax rates. It was established by the father of the nation bangabandhu sheikh mujibur rahman under presidents order no. On the request of my viewers i have uploaded some of the income tax forms in excel, word and pdf format. 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. Income in broad terminology is defined as any receipt in the form of.
Normal tax rates applicable to a resident individual of the age of 60 years or above at any time during the year but below the age of 80 years. Individuals below 60 yrs income tax slab 201718 ay 201819. It was established by the father of the nation bangabandhu sheikh mujibur rahman under. But for that, you need to know the rules of income tax set by the tax department. Latest income tax slabsrates for fy 201718, ay 201819. The taxation process is dependent on a number of factors. Do i need to file income tax return itr if my annual income is below. In the union budget 2020, the finance minister nirmala sitharaman introduced new slabs and reduced the tax rate for. Fm has announced a new income tax regime following.
Individualshufsaopboi are taxed as per the different slab rates. Income tax slabs 202021 new income tax slabs, brackets. Given below are the latest income tax it slabs applicable for the financial year. Income tax slab rates 201819 pdf download ay 201920.