Income tax under the Income-tax Act 2025

Income Tax · 9 min · New · Sep 2026

Income tax slabs FY 2026-27 (AY 2027-28): new and old regime, rebate, surcharge, with worked examples

Both slab tables, the ₹12 lakh rebate and where its marginal relief runs out, the ₹75,000 and ₹50,000 standard deductions, surcharge bands and cess — with ₹9 lakh, ₹18 lakh and ₹35 lakh worked through under each regime.

Income Tax · 9 min · New · Sep 2026

Which ITR form should you file for AY 2026-27? ITR-1 to ITR-7, decided by what you earned

A decision table by income source: salary, house property, capital gains and the narrow 112A allowance on ITR-1 and ITR-4, presumptive 44AD/44ADA/44AE, F&O, directors, unlisted shares, NRIs, firms and trusts — and what a wrong form costs under 139(9).

Income Tax · 8 min · New · Sep 2026

Section 80C: the complete list of eligible investments and expenses for FY 2026-27, and how to use the ₹1.5 lakh

EPF, PPF, ELSS, life insurance and the 10% sum-assured rule, NSC, tax-saver FD, SSY, SCSS, home-loan principal, stamp duty, tuition fees and NPS — with lock-ins, the 80CCE cap, the extra ₹50,000 under 80CCD(1B), and what survives under the new regime.

Income Tax · 7 min · New · Sep 2026

Section 80D: health insurance deduction limits for self, family and parents, preventive check-ups, and the senior-citizen medical-expense rule

The ₹25,000 and ₹50,000 buckets, the ₹5,000 check-up that sits inside the limit, ₹50,000 of medical bills for an uninsured senior citizen, multi-year premium proportioning, the no-cash rule, and a worked example at ₹63,000.

Income Tax · 5 min · New · Aug 2026

Donations under 80G: the certificate that now decides your deduction

Your 80G claim no longer rests on the receipt in your file. It rests on whether the institution reported the donation — which is a change most donors have not noticed.

Income Tax · 6 min · New · Aug 2026

The HUF as a tax entity: what it can legitimately do, and what it cannot

An HUF is a separate assessee with its own exemption limit. That is real, and it is also where most of the bad advice starts — because what you put into it usually does not stay yours.

Income Tax · 6 min · New · Aug 2026

When money from family is taxable: the ₹50,000 rule and who counts as a relative

Gifts from defined relatives are entirely exempt. From anyone else, cross ₹50,000 in a year and the whole amount is income — not just the excess.

Income Tax · 7 min · New · Aug 2026

Selling property: the three exemptions, and choosing between them

Three exemptions, and they are not interchangeable. One asks you to reinvest the gain, one the whole sale price, and one caps you at ₹50 lakh of bonds.

Income Tax · 6 min · New · Aug 2026

TDS on rent: which section applies to you, and at what rate

Two different sections, two different thresholds, and one of them deliberately avoids making you get a TAN. Which one applies depends on who is paying, not on what is rented.

Income Tax · 6 min · New · Aug 2026

194Q or 206C(1H)? The buyer-seller rule that trips up ₹10 crore businesses

One provision asks the buyer to deduct, the other asks the seller to collect, and both describe the same sale. Only one can operate — and businesses that apply both are financing the government twice.

Income Tax · 6 min · New · Aug 2026

Buying property: the 1% TDS the buyer must deduct, and Form 26QB

The buyer is the deductor, the threshold is on the whole property rather than each share, and there is no TAN involved. Most notices here come from joint purchases.

Income Tax · 5 min · New · Aug 2026

Form 16, Form 16A and Form 26AS: which certificate proves what

Three documents, three different jobs, and one of them is generated by the tax system rather than by your employer — which is why they sometimes disagree.

Income Tax · 7 min · New · Aug 2026

Depreciation for income tax: the block of assets, and the half-year rule

Tax depreciation does not track individual assets. It tracks pools — and once you understand the pool, the March-purchase question and the no-loss-on-sale surprise both make sense.

Income Tax · 7 min · New · Aug 2026

26AS, AIS and TIS: reconciling the three statements before you file

The department already has a picture of your year before you file. Filing a return that contradicts it without explanation is the most reliable way to receive a notice.

Income Tax · 8 min · New · Aug 2026

The cash rules that quietly create penalties: 269ST, 40A(3), 269SS and 269T

Four separate cash rules, four separate penalties — and in three of them the penalty equals the entire amount, not a percentage of it. What each rule actually bars, and the everyday transactions that trip them.

Income Tax · 7 min · New · Aug 2026

Tax audit for FY 2025-26: who needs it, the forms and the 30 September date

The ₹1 crore and ₹10 crore business limits, the ₹50 lakh professional line, the presumptive opt-out trap, F&O turnover maths, Forms 3CA/3CB-3CD and the penalty — written to the new Act.

Income Tax · 6 min · New · Aug 2026

Missed the ITR deadline? Belated and revised returns under the new Act

Missed 31 July? You can still file a belated return up to 31 Dec 2026, revise up to 31 Mar 2027, or use ITR-U within 48 months. Section 428(b) fees, interest and lost loss carry-forward, explained.

Income Tax · 7 min · New · Aug 2026

The TDS rate card for FY 2026-27: every threshold that changed

Sections 192 to 194T in one table: current rates, the raised thresholds, the no-PAN 20% rule, deposit and quarterly return due dates, and the three mistakes small deductors keep making.

Income Tax · 7 min · New · Aug 2026

The Income-tax Act 2025 section converter: where your old sections went

A bookmark-worthy table mapping 139(1), 143(1), 80C, 87A, 148, the 194 TDS family and more to their Income-tax Act 2025 equivalents — plus the transition rule that decides which Act your notice runs under.

Income Tax · 7 min · Updated Aug 2026

The new Income-tax Act, 2025 is live: what actually changes for your business from 1 April 2026

The 1961 Act is replaced. Same tax outcomes for most filers — but a new "tax year" vocabulary, new section numbers on every notice, and documents that now cite a repealed law.

Income Tax · 6 min · Updated Jun 2026

Section 194T: the TDS your firm now deducts on payments to its own partners

From 1 April 2025, firms and LLPs deduct 10% TDS on remuneration, interest and commission to partners above ₹20,000 a year — including the year-end book entry most firms miss.

Income Tax · 6 min · Updated Aug 2026

Presumptive taxation under section 44AD & 44ADA: a simple guide for small businesses and professionals

Pay tax on a presumed slice of turnover, skip the audit and the detailed books. Who qualifies, the 44AD and 44ADA turnover limits, the 8%/6% and 50% rates, and how to file with ITR-4.

Tax · 7 min · Updated Jun 2026

ITR filing for small businesses: which form, what documents and key deadlines

Choosing the right ITR form, the documents to keep ready, the due dates that matter, and the common filing mistakes that lead to notices.

Tax · 7 min · Updated Sep 2025

Advance tax for businesses and professionals: who pays, the four dates and avoiding interest

Advance tax means paying as you earn. Who is liable, the four instalment dates, how interest under 234B and 234C builds up, and how to stay ahead of it.

Tax · 7 min · Updated Aug 2026

New vs Old Tax Regime: which one should you pick?

How the new and old income tax regimes differ on slabs and deductions, who benefits from each, and a simple way to decide before you file your ITR.

Tax · 8 min · Updated Aug 2026

TDS for small businesses: sections, due dates and avoiding penalties

Who must deduct TDS, the common sections like 194C, 194J and 194Q, the payment and return due dates, and how to avoid interest and penalties.