Income tax rules for ay 2014-15 pdf free

You can use this pdf for a short revision of income tax law and by using this short notes of income tax you can revise income tax in a very short time. The abovementioned tax benefits are subject to changes in the tax laws. Income tax 201415 exemptions available to salaried. Income tax rates 20142015 for filing individual tax returns. Agriculture income section 101 as per section 101, agricultural income earned by the taxpayer in india is exempt from tax. There are certain cases when withdrawal from pf before five years does not become taxable. Return form6 for the assessment year 201920 relating to the financial year. It was established by the father of the nation bangabandhu sheikh mujibur rahman under. Keeping this in mind i have prepared a 43 slides presentation covering all sections under which you can save tax for this financial year fy 2014 ay 201415. Income tax department has started the e filing of income tax return itr forms for the assessment year 201415 by releasing the two income tax return utilities java based. Further assessee can prepare return offline and upload return on filing portal. The interest earned on epfvpf is tax free can take loan against epf and also do partial. Report alimony received on form 1040 or form 1040sr attach schedule 1 form 1040 or 1040sr pdf or on schedule nec, form 1040nr, u.

Income tax deduction rules for salaried employees 201920. For individuals below 60 years age including woman assessees. Rule 12 has prescribed the rules regarding which income tax form is to be used by the assessee and in which manner it is field like paper filing or e filing without digital signature and with digital signature. Art of drafting of appeal for filing of appeal before cit appeals denial by jc st of refund claim by sez unitdeveloper stating only supplier can claim. The study material is based on the provisions of income tax law as amended by the finance act, 2018.

The national board of revenue nbr is the apex authority for tax administration in bangladesh. Income tax deduction rules, income tax exemption rules, income tax slab rates f. The new income tax rates or income tax slabs are applicable for the incomes earned or generated from april 01, 2012 to march 31, 20. Due date to file income tax return assessment year 201415. The study material contains all relevant amendments made by finance act, 20 and is applicable for the assessment year 201415 relevant for june 2014 and december 2014 examination. Individual resident or nonresident, who is of the age of less than 60 years on the last day of the relevant previous year. Incorporates changes made in income tax laws in budget presented on july 10, 2014. The new itr forms have been released by cbdt for fy 201415 income tax returns filing. Direct tax laws income tax and wealth tax and indirect tax laws service tax, value added tax and central sales tax covered in the syllabus. Union budget 2020 has proposed a new tax structure by slashing income tax rates and rejigging the income tax slabs to reduce total tax liability by individuals. Rs 12,500 or 100% of income tax whichever is lower for individuals with income below rs 5 lakhs. There are no sectorial caps in the new section and assesses is free to invest. Income tax slabs for fy 2018 19 ay 2019 20 project make knowledge free by amlan dutta.

Government of india income tax slab rates for ay 202014. Income tax slab rate for ay 202122 for individuals opting for old tax regime. Rule 12 filing of income tax return manner and form number. Standard deduction makes a comeback after years with effect from 1st april 2018, standard deduction of rs 40,000 or the amount of the salary, whichever is less, would be allowed from salary personal finance guide to mutual funds, stocks, insurance, investments, loans, tax planning, nonresident indians related issues. For gazetted war wounded freedom fighters, tax free income threshold limit is tk. In pursuance of income tax act, 1961 regarding deduction of income tax at.

For individuals being a resident other than not ordinarily resident having total income upto rs. Form 16 in excel format for ay 202021 free download. Download complete tax planning guide in pdf for salaried. As proposed in the new tax regime, 70 tax exemptions will be removed but the income between rs 5 lakh and rs 7. Income tax acts national board of revenue nbr, bangladesh. The focus of presentation is to give you a quick, simple yet exhaustive list of tax saving sections options and respective investments. In case of any doubt, please refer to relevant provisions of the income tax. The document is a pdf document and can be opened, viewed and printed with the freely available acrobat reader. Income tax rates applicable for individuals, hindu undivided family huf, association of persons aop and body of individuals boi in india is as under. Follow this link for more information about income tax on pensions and retirement.

Income tax calculator new scheme vs old scheme and consent letter for fy 202021 scm pe imp theory june 2020 exams e book on rectification of mistake us 154. If you have quit your job, you can withdraw your employees provident fund epf money even before the completion of five years. Income tax at a glance among direct taxes, income tax is the main source of revenue. Tax rebate of rs 2000 to resident individuals whose total income is less than rs 5,00,000. Text of remaining provisions of allied acts referred to in income tax act 1. Section page contents division one 111 income tax act, 1961 page u arrangement of sections i3 u text of the income tax act, 1961 as amended by the finance act, 2011 1. The central board of direct taxes cbdt has notified the income tax returns itr for financial year 201415 assessment year 201516.

Individual, hindu undivided family, association of persons, body of individuals, artificial juridical person. Here you can download the latest auto income tax calculator for fy 201920 ay 202021 or simply form 16 in excel format for ay 202021. Tax slab for financial year 201415 assessment year 1516. Agricultural income is defined under section 21a of the income tax act. We have uploaded below income tax calculator for financial year 2014 or assessment year 201415 after making the changes effected by union budget 202014. Under section 192 of the income tax act,1961 every employer should deduct tds from employee salary. By law, taxpayers must file an income tax return annually to determine their tax obligations. But from assessment year 201415, in case of following categories. The computational practical problems have been solved on the basis of the provisions of income tax laws applicable for ay 201920 i. This is a short 43 slide power point presentation in pdf which covers all the tax saving sections and investments applicable for tax payers.

Tax act1961, and managed by the central board of direct taxes cbdt. We provide you the latest income tax rates in india for everyone and tax. Plan for guaranteed, tax free income to secure your future with hdfc life sanchay plus. However, according to the income tax rules, such withdrawals will be taxable. We are releasing the ebook on tax planning which tells you how to save income tax for fy 201819 ay 201920 for both salaried and professionals. Please contact your tax consultant for an exact calculation of your tax liabilities. The calculator calculates income tax from financial year 200607 to 2014 and also contains income tax rate for the period from 199798. Cases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft. In order to determine the method of assessment on an individual liable to guernsey income tax it is necessary first to consider that individuals residence for the purposes of income tax. Calculation of tds on salary for fy 2014 ay 201415. Salary from more than one employer if pan is not furnished.