Skip to main content

BUDGET 2016-2017 Special

Latest Updates -
-The latest income tax slabs for 2016-2017 can be found here - Income tax slabs 2016-17.

-The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here
Free Income Tax calculator for calculating tax for 2016-17.

Latest Income tax slabs for FY 2016-2017

The Latest income tax slabs based on the Union budget presented on 29 February 2016. The Minister of Finance Mr. Arun Jaitley presented the union budget on 29 February 2016. Following are the major highlights of the latest income tax slab. Calculate your tax based on the tax slabs for year 2016-2017. Detailed split for general, women, senior citizen etc are provided.

India Income tax slabs 2016-2017 for General tax payers and Women

Income tax slab (in Rs.)Tax
0 to 2,50,000No tax
2,50,001 to 5,00,00010%
5,00,001 to 10,00,00020%
Above 10,00,00030%

India Income tax slabs 2016-2017 for Senior citizens (Aged 60 years but less than 80 years)

Income tax slab (in Rs.)Tax
0 to 3,00,000No tax
3,00,001 to 5,00,00010%
5,00,001 to 10,00,00020%
Above 10,00,00030%

India Income tax slabs 2016-2017 for very senior citizens (Aged 80 and above)

Income tax slab (in Rs.)Tax
0 to 5,00,000No tax
5,00,001 to 10,00,00020%
Above 10,00,00030%


Note - No change in Tax slabs from last year. The previous income tax slab for year 2015-2016 can be found here - Income tax slabs 2015-16.

Topics: 

Minister of Finance Leaves for G20 meet

Union Minister for Finance, Mr Arun Jaitley leaves for Ankara Turkey to attend the two day conference of Finance Ministers and Central Bank Governors’ of G-20 countries. The minister is also expected to attend the first meeting of Contingent Reserve Arrangement(CRA) of Governing Council of BRICS.

Mr Jaitley is expected to be back on 7 September 2015.

Topics: 

Income tax return filing due date extended

The Ministry of finance has indicated that the due date for filing of income tax returns has been extended to September 7, 2015. Initially the extension of due date was for tax payers in Gujarat, but now it has been extended for across the country.

More details are available in this circular issued by Ministry of Finance.

Extension of Filing due date

Topics: 

Latest Income tax slabs for FY 2015-2016

Calculate your tax based on the tax slabs for year 2015-2016. Detailed split for general, women, senior citizen etc are provided.

Topics: 

BUDGET 2015-2016 Highlights

Minister of Finance Mr. Arun Jaitley presented the Union budget for the year 2015-16 on February 2015 in Parliament. The highlights of the union budget that is targeted to reduce fiscal deficit and to improve growth are the following:

Topics: 

Latest Income tax slabs for FY 2014-2015

The latest income tax slab for 2014-2015 based on the union budget 2014 presented on 10 July 2014.

Topics: 

BUDGET 2014-2015 Highlights

Union budget 2014-2015 was presented by Minister of Finance Arun Jaitley. The highlights of the budget.

Topics: 

Interim budget 2014

The Interim budget for 2014 was presented on 17 February 2014 by Minister of Finance Mr. Chidambaram.
The main highlights of the Interim budget 2014

  • GDP growth expected at 4.9 percent
  • No modifications to the income tax rates
  • Reduction in indirect taxes on cars and mobile phones
  • Bonds of 500billion Rupees on plan for Buyback / switch

The interim budget is presented since the tenure of existing government will be over in May. The new government is expected to present the budget for 2014-2015 during the month of July.

Topics: 

Income tax slabs for FY 2013-2014

Income tax slab applicable for 2013-2014 per union budget 2013-14 presented on 28 February 2013.

Topics: 

Union budget 2013 Highlights

No changes to the income tax slab or the rates and an additional rebate for people with income less than Rs 5 lakhs are the main highlights of the budget. In addition, the highlights of the Union budget 2013 presented by Minister of Finance Mr Chidambaram today are the following -

Topics: 

Pages

Premium Drupal Themes by Adaptivethemes