Income Tax

If you're a salaried employee in India, Form 16 is arguably your most important tax document. It tells you exactly how much TDS your employer deducted and…

Under the Income Tax Act, every rupee you earn must fit into one of five heads of income. "Income from Other Sources" (Section 56) is the residual head — it…

Advance tax provisions are consolidated under Chapter XVII-C of Income-tax Act 2025 (corresponding to Sections 207–219 of the old 1961 Act). The fundamental…

Alternate Minimum Tax (AMT) trips up many LLPs and partnership firms that legitimately claim special deductions — only to find that AMT at 18.5% creates a…

Before you file your AY 2026-27 ITR this July, spend 30 minutes on the Annual Information Statement. The AIS is the department's master view of your financial…

India's loss carry-forward rules are a lifeline for businesses that go through lean years. Under the Income-tax Act 2025, the core mechanics remain intact — 8…

If you sold a property, land, or any other long-term capital asset in Tax Year 2026-27 (April 2026 – March 2027), you need to navigate the Income-tax Act…

An income tax scrutiny notice lands in your e-filing inbox. You have 21 days to respond. What do you submit? In a physical assessment, you could walk into the…

Faceless penalty proceedings — launched under the old Act and now deepened under the Income-tax Act 2025 — mean that a tax officer you never meet can levy a…

Every Indian employer who has issued Form 16 to employees needs to know one thing: Form 16 is being replaced by Form 130 under Rule 215 of the Income Tax…

Millions of home loan borrowers use house property loss — created by home loan interest exceeding rental income — to reduce their salary tax. The Income-tax…

If you're a doctor, lawyer, CA, architect, or technical consultant filing your tax return, the presumptive scheme under Section 58 of the Income-tax Act 2025…

The Income Tax Act, 2025 and Income Tax Rules, 2026 changed virtually every employer-facing compliance form and process. Form 24Q is now Form 138. Form 16 is…

India's income tax framework for charitable organisations — hospitals, schools, religious trusts, welfare societies — has always been complex, spread across…

India's co-living sector — from managed PGs in Bengaluru to micro-apartments in Gurugram — now faces a sharper tax lens under the Income-tax Act 2025. The new…

Salary ₹18L. Pays health insurance: self ₹22,000, parents (senior citizens) ₹48,000. 80C investments ₹1.5L. No HRA (company accommodation). No home loan.

Before choosing a personal tax regime, the business owner must decide how much to draw as salary versus dividend. This affects both corporate tax and personal…

For both spouses to claim separate home loan deductions, all three conditions must be met:

Freelancers face a uniquely complex regime choice. Unlike salaried employees, they have professional income under Section 44ADA (presumptive taxation), no HRA…

Government employees typically have access to more deductions than private sector peers — HRA (if not provided government accommodation), 80C (GPF/PPF…

If you have a home loan, the old vs new regime decision is often made for you — the old regime's home loan deductions (Section 24 interest + Section 80C…

Consider a typical urban professional: ₹18–25 lakh CTC, renting a metro flat, contributing to NPS via employer and self. This person has three powerful…

The rates below apply in both old and new regimes — regime choice does not change these rates.

Under Income-tax Act 2025 (Section 5), an NRI is taxed only on India-sourced income. The main categories:

For retired Indians living on pension and fixed-deposit interest, regime choice is the single most impactful financial decision each year. The default regime…

RSUs (Restricted Stock Units) granted by your employer (whether Indian or foreign listed company) are taxed in two stages:

Under the Income-tax Act 2025 (old regime), a taxpayer can claim only one property as self-occupied. The second property is treated as "deemed to be let out" —…

When a taxpayer receives a wrong assessment order, the appeal is the primary remedy. Under the old Act, Sections 246 to 260 governed the entire appeal…

Minimum Alternate Tax (MAT) ensures that profitable companies on book basis pay at least 15% of their book profit as tax, even if their taxable income under…

If you've claimed HRA, LTA, gratuity or education allowance in your tax returns, you need to understand a structural shift: Section 10 of the Income Tax Act…

The Income Tax Act, 2025 replaced the Income Tax Act, 1961 on 1 April 2026 — ending 65 years and roughly 4,000 amendments of the old law. The foundational…

Section 40(a)(ia) of the Income Tax Act, 1961 is one of the most consequential TDS compliance provisions for businesses — failing to deduct or deposit TDS on…

When you sell property in India — whether as a developer clearing inventory or an individual selling a flat — the Income Tax Department uses the Stamp Duty…

Section 80C — the most familiar deduction for every salaried taxpayer — has been renumbered as Section 123 under the Income Tax Act, 2025, effective Tax Year…

For startup employees and corporate executives with significant ESOP grants, the old vs new regime decision is far more complex than it is for a simple…

Penalty is the most feared outcome of a tax assessment — and the most misunderstood. The Income-tax Act 2025 consolidates and renumbers penalty provisions…

The presumptive taxation scheme — offering businesses the option to declare a fixed percentage of turnover as profit without maintaining detailed books — has…

Penalty is a civil remedy — prosecution is a criminal one. Under the Income-tax Act 2025, prosecution can result in imprisonment and fine, not just a monetary…

You filed your ITR, your Form 26AS confirms TDS, and you're expecting a refund of ₹45,000. Then the e-filing portal shows: "Your refund of ₹45,000 has been…

From 1 April 2026, salary TDS moved from Section 192 of the Income Tax Act, 1961 to Section 392(1) of the Income Tax Act, 2025. For employees, the tax…