Salary TDS Under Section 392 for Tax Year 2026-27: Employer Calculation and Tax Regime Declarations
What changes for salary TDS from 1 April 2026? The Income-tax Act, 2025 applies to salary paid on or after 1 April…
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TDS on Bank and Fixed Deposit Interest in Tax Year 2026-27: Thresholds, Rates and Tax Credit
How TDS on bank interest works in Tax Year 2026-27 Banks may deduct tax at source (TDS) on fixed-deposit and other covered…
Read the guide →TDS on Commission and Brokerage in Tax Year 2026-27: Section 393 Rates and Thresholds
What changed from 1 April 2026? For commission or brokerage credited or paid on or after 1 April 2026, resident-payee withholding is…
Read the guide →TDS on Contractor Payments for Tax Year 2026-27: Section 393 Rates and Thresholds
What changes for contractor payments from 1 April 2026? For payments credited or made on or after 1 April 2026, contractor TDS…
Read the guide →Section 80DDB Deduction for AY 2026-27: Medical Expenses for Specified Diseases
What is the Section 80DDB deduction? Section 80DDB of the Income-tax Act, 1961 allows a deduction for eligible expenses actually paid during…
Read the guide →Capital Loss in ITR for AY 2026-27: Set-Off Rules, 8-Year Carry-Forward and Filing Deadline
How capital loss works in an income tax return A capital loss arises when the sale or transfer of a capital asset…
Read the guide →Family Pension Tax for AY 2026-27: Section 57 Deduction Under the Old and New Tax Regimes
How is family pension taxed? Family pension is generally taxable in the recipient’s hands under Income from Other Sources. It is not…
Read the guide →Home Loan Interest Deduction in ITR for AY 2026-27: Section 24(b) Under the Old and New Tax Regimes
Learn how Section 24(b) home loan interest deductions work for AY 2026-27 under the old and new tax regimes, including self-occupied and…
Read the guide →Section 80TTB for AY 2026-27: ₹50,000 Interest Deduction for Resident Senior Citizens
What is Section 80TTB? Under Section 80TTB of the Income-tax Act, 1961, an eligible resident senior citizen can claim a deduction on…
Read the guide →GST GSTR-7 Filing: Invoice-Wise TDS Reporting, Due Date and Seller Credit
What is Form GSTR-7? GSTR-7 is a monthly GST return filed by a registered person required to deduct tax at source (TDS)…
Read the guide →GST Registration Cancellation Revocation: How to File Form GST REG-21 Within 90 Days
What is revocation of GST registration cancellation? Revocation is a request to restore a GST registration that the proper officer cancelled on…
Read the guide →Leave Encashment Tax Exemption in India: Calculation, ₹25 Lakh Limit and ITR Reporting
What is leave encashment? Leave encashment is money an employer pays for earned leave an employee has not used. Its tax treatment…
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