Respected Sir
What is limit of taxabla income to male and female for FY 2016-17, AY 2017-18.
What are the rates of tax (slab limit)?
Is their any change in deduction u/s 80C and others?
Respected Sir
What is limit of taxabla income to male and female for FY 2016-17, AY 2017-18.
What are the rates of tax (slab limit)?
Is their any change in deduction u/s 80C and others?
Limit for individuals
0-2.5 Lacs - NIL
2.5 L- 5L- 10%
5L-10L-20%
above 10 L-30%
80C- Rs 1.5 L
www.mytaxfiling.in
info @ mytaxfiling.in
There is NO separate tax slab for men and women. Earlier women used to have slight benefit over men in terms of lower taxes!
The tax slabs are determined on age of person. As of today there are 3 slab rates based on age:
| Income Slab | Tax Rate |
| Income up to Rs 2,50,000 | No Tax |
| Income from Rs 2,50,000 – Rs 5,00,000 | 5% |
| Income from Rs 5,00,000 – 10,00,000 | 20% |
| Income more than Rs 10,00,000 | 30% |
|
|
Also Read: 25 Ways Budget 2017 Impacts Your Taxes and Investments
| Income Slab | Tax Rate |
| Income up to Rs 3,00,000 | No Tax |
| Income from Rs 3,00,000 – Rs 5,00,000 | 5% |
| Income from Rs 5,00,000 – 10,00,000 | 20% |
| Income more than Rs 10,00,000 | 30% |
|
|
| Income Slab | Tax Rate |
| Income up to Rs 2,50,000 | No Tax |
| Income from Rs 2,50,000 – Rs 5,00,000 | No Tax |
| Income from Rs 5,00,000 – 10,00,000 | 20% |
| Income more than Rs 10,00,000 | 30% |
|
|
| Company Turnover | Tax Rate |
| Less than 50 crore | 25% |
| More than 50 crore | 30% |
| Surcharge:
Education Cess: 2% cess on income tax including surcharge Secondary and Higher Education Cess: 1% cess on income tax including surcharge |
|
Read the attached file it will clear all your doubts
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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