Shreyans Mehta, Raigarh (firstname.lastname@example.org)
The Impact of Budget in Personal Taxation :- The Finance Minister in the Budget-2011 implemented some new benefits and also levied a new exemption limit where for Individuals Male Categories which increased to Rs 1.8 lakh from Rs 1.6 lakh and for Senior citizen Tax slabs increased to Rs 2.5 lakh from Rs.2.4 lakh and has also reduced the eligibility age for Senior citizens from 65 years to 60 year and further a New category for very senior citizens introduced for 80 years and above who will be eligible for Tax limit from Rs 5 lakhs but the Finance minister has not given neither brought in any change for the women assessee and they have no new tax exemption limit which remains unchanged to Rs.1.9 lakhs further a new revised income tax return form ‘Sugam’ has been introduced for small tax payers. Further the finance minister has brought in no change in Chapter-VIA Deductions.
Please find the Excel Sheet for Tax Calculation.
|S.NO.||INCOME TAX SLAB
||INCOME TAX CALCULATORS|
|1.||Income Tax Slabs for FY 2016-17 / AY 2017-18|
|2.||Income Tax Slab for FY 2015-16 AY 2016-17|
|3.||Income Tax Slab for FY 2014-15 AY 2015-16|
|5.||Income tax Slab for FY 2012-13 / AY 2013-14||Income Tax Calculator FY 2012-13 / AY 2013-14|
|6.||Income tax calculator for FY 2006-07 to FY 2016-17|
|7.||Income Tax Slab Rates from AY 1992-93 to AY 2015-16|