INCOME TAX RATES ARE
(applicable for Financial Year 2014-15
Assessment Year 2015-16)
Every year the income tax rates are changed
and it is important to get the latest income tax rates. We give below the
Income Tax Rates and Slabs applicable for the FY 2014-15 or AY 2015-16.
:- As per Budget 2015, there is no change in Income Tax Slabs for FY
2015-16 (i.e. AY 2016-17). Therefore following rates are also applicable
for FY 2015-16
Income Range
|
General (non-senior citizens)
Category
|
Senior above 60 years of age, but
below 80 years
|
Very Senior above 80 years of age
|
||
Upto
Rs. 2,50,000
|
Nil
|
Nil
|
Nil
|
||
Rs.
2,50,001 to Rs. 3,00,000
|
10%
|
Nil
|
Nil
|
||
Rs.
3,00,001 to Rs. 5,00,000
|
10%
|
10%
|
Nil
|
||
Rs.
5,00,001 to Rs. 10,00,000
|
20%
|
20%
|
20%
|
||
Above
Rs. 10,00,000
|
30%
|
30%
|
30%
|
||
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ReplyDeleteUsing a technique called tax-loss harvesting, you may be able to sell poor investments that you were going to sell otherwise, reinvest the profits in more promising investments, and utilize the losses to offset any capital gains you may have made in other areas of your portfolio. Additionally, for federal income tax purposes, you can utilize up to $3,000 in losses to offset your ordinary income if your losses for the year outweigh your profits.
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