Gross total income of r for assessment year 201516 is rs. Excel tds form16 automatic certificateay 201516 download. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 201516 for last fy 201415. If transfer takes place after july 10, 2014, the concessional rate of 10% will not be available in case of ltcg which arises on transfer of units. It is deductible from incometax before calculating education cess. Tax on accumulated balance of recognised provident fund 111 to be computed in accordance with rule. Tax on accumulated balance of recognised provident fund 111 to be computed in accordance with rule 91 of part a of fourth schedule 2. Missed the march 31 deadline to file income tax return. Information on the united statescanada income tax treaty. Click here for income tax rates for assessment year 201516.
Shortly income tax return filing will commence for ay 201516, returns will be filed for income earned in the financial year that started on 1st april 2014 and ended on 31st march. Thus the amendment has settled the legal position which must be borne in mind by the auditors chartered accountants while computing the income applied for the purpose of issuing audit report in. Jul 30, 2015 new income tax return form for ay 2015 16 itr3, itr4, itr5, itr6 and itr7 has been notified by cbdt vide notification no. The taxpayers have to correctly choose the relevant form and file the return. Instructions to form itr6 ay 201516 income tax department. My next question is that how should be calculated the income tax for current year. India income tax slabs 20142015 for general tax payers and women income tax slab in rs.
Cbdt has issued circularorder on extension of due date of filing of income tax return ay. Compliance hand book contains the following income tax inc. Income tax rates for ay 201516 financial year 201415. My question is that this arrear should not be added in previous year. Income tax slab rates for ay 20152016 financial year. Income tax return filing choose your tax return form for ay 201516. Download tax planning ebook for fy 201516 ay 201617 2. Income tax rate slab changed for financial year 201415 and the analysis year 201516 on the union budget. Download simple income tax calculator for the salaried employees for fy 201415 ay. The combined income of all individual tax filers rose to rs 21. Report regarding framework for computation of book profit for the purposes of levy.
So now due date for nonaudit case also salaried employee covered, is 31. Detailed article on the income tax slabs rates for fy 201415 and ay 2015 16. Jan 04, 2015 calculate your tax based on the tax slabs for year 2014 2015. Short term capital gains on equity share or equity oriented fund chargeable to stt 111a 15 3. Incometax slab rates for individual for fy 201718 ay 201819 incometax slab rates for. Therefore, the process of electronically filing your income tax. Just to add, even if you could not file return after the last date i. Cbdt has notified income tax return itr forms for ay 201516.
Mar 15, 2019 the income tax slab is remain unchanged in this financial year. May 08, 2014 in the case of corporate assessee, if the net income of a corporate assessee for the assessment year 2014 2015 exceeds rs. Download simple income tax calculator in excel format for salaried persons for financial year 201415 assessment year 2015 16. Buy notes on direct taxes for ca final in modules. Income tax calculator fy 201415 ay 201516 salary tds calculator in excel. Income tax return filing choose your tax return form for. Hence this provision continues for ay 201516 as well. Income tax slab rates for ay 20152016 financial year 20142015.
Income tax rates for fy financial year 201415 ay assessment year 2015 16 final, for individuals,men, women, senior citizens, hufs and other categories surcharge and education cess. Thus for ay 201516, till the time full budget is passed, tax deducted at source tds liability would be computed as per these rates. Instructions to form itr6 ay 201516 page 4 of 12 sl. This incometax ready reckoner is based on the directtax laws as amended by the finance no. If the income tax payable is less than the mat calculated, the book profit will be. March 31, 2018 was the deadline to file income tax returns itr for the financial year 201516 and 201617. This should not be used to compute the actual taxes to be paid to the government.
This article provide quick excel income tax calculator for fy 2015 16 ay 201617 for individual resident whose age is below than 60 years i. Auto income tax calculator with salary statement for fy 202021 ay202122 in excel. Now income tax exemption is raised by 50000 to 250000. Depreciation allowability us 11 for income applied ay 201516. Tax relief under section 89 for the assessment year 201516 i.
Students guide to income tax with problems and solutions in 2 parts ay 2015 16 book. Cbdt has notified income tax return itr forms for ay 2015 16. Income tax rates for fy financial year 201415 ay assessment year 201516 final,for individuals,men, women, senior citizens, hufs and other categories surcharge and. Rebate 87a for fy 201415 ay 2015 16 finance bill 2014 has increased income tax exemption limit by rs. Incometax slab rates for individual for fy 201718 ay. The number of incometax return filers increased to 4. The data, released last week, indicates just over 3 per cent of the. Abcaus excel based auto fill form 16 for ay 201516 fy 201415 is very simple and user friendly. Income tax return filing choose your tax return form for ay. Buy notes on direct taxes for ca final in modules separate books for a. Today i have gone to income tax department to file the return financial year 201415 assessment year 201516, whereas the income tax officer has told me to pay penalty rs. Due date of filing income tax return for the ay 2015 16 has been extended by cbdt from 31st july 2015 to 31st august 2015. Nonresident individualhuf net income range income tax rates health and education cess up to rs.
Therefore, the process of electronically filing your income tax returns is known as efiling of returns. Tax 0 to 2,50,000 no tax 2,50,001 to 5,00,000 10% 5,00,001 to 10,00,000 20% above 10,00,000. If you can not file the return within the due date, you can still file the belated. The data, released last week, indicates just over 3 per cent of the 120 crore population filed returns. Do you have to file income tax return for ay 201516. The user is required to fill the data in a pop up form and excel form 16 is updated automatically with ease. Incometax slab rates for individual for fy 201819 ay 201920 itr1 and itr2 ay 201920 released. For comfort in filling, the form has been divided into total of four sections. Senior citizen means an individual resident in india.
Detailed split for general, women, senior citizen etc are provided. Quick excel income tax calculator for fy 201516 ay 201617. Book profit for the purpose of computation of remuneration. Income from salary income from salary after standard deduction of rs. Now the question arises is do rebate of income tax under section 87a as applicable for fy 2014 also available for fy 201415 and subsequent years. In case you havent filed your itr for fys 2015 16 and 201617, you cannot file a belated return anymore.
But the total income tax paid by individuals declined to rs 1. Now my total income is rs 591684 including the arrears. Due date to file income tax return assessment year 201516. Students guide to income tax with problems and solutions in 2.
Abcaus excel based auto fill form 16 for ay 2015 16 fy 201415 is very simple and user friendly. The data, released last week, indicates just over 3 per cent of. But if you are individualhuf and have more than one house property then you have to choose between itr 2 and itr 2a. The income tax department can allow taxpayers to file returns post the deadline for specific cases.
Income tax scruitiny respected sir thanks for your wonderful blog. Income tax calculator fy 201415 ay 201516 in excel format auto income tax calculator f. I got promotion from 1st jan 2014 and received the pay arrears rs 104474in fy 2015 16 for last fy 201415. For income tax purpose citizens above age of 60 are considered as senior citizens and above age of 80 are considered very senior citizens. Cbdt has issued circularorder on extension of due date of filing of income tax return ay 2015 16 dated 10. The income tax slab is remain unchanged in this financial year. The number of people paying income tax rose from 3.
Download income tax calculator for fy 201415 ay 201516. New income tax return form for ay 201516 itr3, itr4, itr5, itr6 and itr7 has been notified by cbdt vide notification no. Finance bill 2014 has increased income tax exemption limit by rs. Shortly income tax return filing will commence for ay 2015 16, returns will be filed for income earned in the financial year that started on 1st april 2014 and ended on 31st march. Incometax return statistics assessment year 201516 version 1.
Incometax slab rates for individual for fy 201415 ay. Are you paying more income tax than you are liable to. India income tax slabs 2014 2015 for general tax payers and womenincome tax slab in rs. During this financial year i have only 4lacs as salary income as i have only pension. Income tax department is selecting cases for scrutiny under computer aided scrutiny selection cass based on the information gathered from annual information returns air and based on the. Apr 07, 2018 march 31, 2018 was the deadline to file income tax returns itr for the financial year 2015 16 and 201617. Instructions to form itr6 ay 2015 16 page 4 of 12 sl. Income tax is a direct tax which is levied by the government. Download income tax calculator for fy 201516 ay 201617 income tax slab for fy 201415 ay 201516 the income tax slab has changed for general public and senior citizens. This article provide quick excel income tax calculator for fy 201516 ay 201617 for individual resident whose age is below than.
Thus the amendment has settled the legal position which must be borne in mind by the auditors chartered accountants while computing the income applied for the purpose of issuing audit report in form no. Senior citizen means an individual resident in india who is the age of sixty years or more at any time during the relevant previous year. In the case of corporate assessee, if the net income of a corporate assessee for the assessment year 20142015 exceeds rs. Students guide to income tax with problems and solutions. Due date of filing income tax return for the ay 201516 has been extended by cbdt from 31st july 2015 to 31st august 2015. This tax calculator can be used to calculate the approximate tax payable by salaried individuals. Income tax slab rates for last 25 years in india 199293 to. May 31, 2015 so now due date for nonaudit case also salaried employee covered, is 31.
Dec 25, 2017 but the total income tax paid by individuals declined to rs 1. This section can help you to plan your salary components in case your company offers such facility. The amount of rebate is 100 per cent of incometax or rs. Legislation was passed by parliament in june 2015 to amend the 201516 tax scale and low income tax offset so that the overall tax rates are the same as the previous year. In case you havent filed your itr for fys 201516 and 201617, you cannot file a.
Jun 28, 2015 income tax return filing choose your tax return form for ay 201516. Income tax return forms for assessment year 201516 guide. Aadhaar number and passport number is now mandatory. Apr 08, 2015 download tax planning ebook for fy 2015 16 ay 201617 2. We can know more about online income tax return filingfy 201516 ay 201617. The above rates were proposed in the vote on account presented by the upa government pending lok sabha elections and were valid till 30th june 2014. Income tax slab rates for last 25 years in india 199293. Income tax scrutiny criteria for financial year 201516. Students guide to income tax with problems and solutions in 2 parts ay 201516 book. Income tax department has introduced a convenient way to file the return of income by the taxpayers using the internet. Tax on unrelated business income of exempt organizations.
For instance, if you are individual and have one house property then you have to file itr 1. The amount of rebate is 100 per cent of income tax or rs. Carbon tax repeal and 201516 tax cut reversal in detail. Please clarify the following doubt iam central government pensioner. Family means the spouse and dependant children of the assessee.