Latest Income tax bands brackets India fy 2014-15 ay 2015-16
The Income tax Bands or brackets for financial year 2014-15 are very much same as previous year. The major update is with the initial tax bracket which has been increased from 2 lakhs to 2.5 Lakhs. So you will saving tax on Extra Rs.50 thousand which is an considerable amount of saving.The tax savings under section 80C has been increased to Rs.50 thousand more. Also the income tax exemption on home loan interest amount has been updated to 2 Lakhs instead on 1.5 Lakhs.
Common Questions on income Tax Bands or Brackets in India
- What are the income tax slabs /brackets in india for Fy 2014-15 and AY 2015-16
- Minimum salary in India to pay income tax?
- About income tax return filing?
- Do i need to file income tax return if my income tax is above Rs.5 Laksh?
- What are the Indian income tax slabs for financial
- Income tax bands for financial year 2014-15
You can refer to my previous post on Current income tax Slabs for Fy 2014-15 Ay 2015-16 for complete details on tax slabs.
|Income tax Brackets 2014-15|