Income tax
Returns, the two tax regimes, the Income-tax Act, 2025, business income, capital gains, TDS and TCS, and income-tax notices.
Guides
- Capital gains on sale of immovable propertySelling land, a house, a flat or a shop? This guide explains how the gain is worked out, which rate applies, how it can lawfully be reduced, and what to do about TDS and filing. It reflects...Reviewed 16 October 2026
- Cost Inflation Index (CII): FY 2001-02 to FY 2026-27The CII adjusts the purchase cost of an asset for inflation, so that tax falls on the real gain. The base year is 2001-02 (index 100). The index for FY 2026-27 is 384, notified by the CBDT...Reviewed 16 October 2026
- New vs old tax regime for tax year 2026-27Slabs, rebate, standard deduction and how to choose between the two regimes for an individual.Reviewed 1 November 2026
- Advance tax: who pays, when and how muchDue dates, instalments, exceptions and the interest cost of getting it wrong.Reviewed 16 October 2026
Common questions
Individuals and salaried
- What are the limits for sections 80C, 80D and 80CCD(1B), and which deductions survive in the new regime?
- How do I e-verify my income-tax return, and what if I miss the 30 days?
- How are family pension, gifts from relatives and agricultural income taxed?
- Form 16, Form 26AS and the AIS don't match. Why, and what should I do?
- How do I claim HRA, and can I claim HRA and a home-loan deduction together?
- I missed the ITR due date. Can I still file, and what does it cost?
- Which is better for me: the old or the new tax regime?
- How long does an income-tax refund take, and why is it delayed or adjusted?
- Is income up to ₹12 lakh really tax-free under the new regime?
- What is the standard deduction for salaried people and pensioners?
- Which ITR form should I file?
The Income-tax Act, 2025
- Has anything changed for salaried taxpayers under the Income-tax Act, 2025?
- What are the new section numbers for common sections like 80C, 194C and 44AB?
- Do my pending notices, assessments and appeals continue under the 1961 Act?
- What is a "tax year", and what happened to the previous year and assessment year?
- Does the Income-tax Act, 2025 or the 1961 Act apply to my income?
Business and professionals
- Who must pay advance tax, what are the due dates, and what is the interest for paying late?
- How are losses set off and carried forward under income tax?
- What are the limits on cash payments, cash receipts and cash loans under income tax?
- What are the income-tax depreciation rates, and how does the half-year rule work?
- How is a partnership firm taxed, and how much remuneration and interest can partners be paid?
- Who can opt for presumptive tax under sections 44AD, 44ADA and 44AE, and what are the limits?
- What is section 43B(h) (now section 37), and what happens if I pay an MSE supplier late?
- When is a tax audit compulsory, and what are the turnover limits?
Capital gains and property
- How do the capital gains exemptions under sections 54, 54EC and 54F (now sections 82, 85 and 86) work, and what is the Capital Gains Account Scheme?
- When is a capital gain long-term, and at what rate is it taxed?
- How are gains on gold, crypto and unlisted shares taxed?
- How is the sale of inherited or gifted property taxed?
- Can I still use indexation when I sell a property bought before 23 July 2024?
- What if I sell property below the circle rate (section 50C, now section 78), and how is a jointly owned property taxed?
TDS and TCS
- How do I correct a wrong TDS challan or TDS return?
- How do I get TDS deducted at a lower rate or not at all (Form 13, 15G and 15H)?
- Why is higher TDS deducted when PAN and Aadhaar are not linked, or for non-filers?
- When is TCS collected on foreign remittances, car purchases and sale of goods?
- Do I have to deduct TDS when I buy a property?
- How does my employer deduct TDS on salary, and how do I declare my investments?
- What are the TDS rates and thresholds for rent, contractors, professionals, interest and commission?
- When are TDS payments and TDS returns due, and what is the late fee and interest?
Notices, assessment and appeals
- How do I appeal against an income-tax order, and what are the time limits and fees?
- My return has been treated as defective under section 139(9) (now section 263(7)). What now?
- What is a faceless assessment, and how does a personal hearing by video work?
- I got an income-tax notice. What should I do first?
- What does an intimation under section 143(1) (now section 270(1)) mean, and what should I do?
- I received a notice under section 148 or 148A (now sections 280 and 281). What should I do?
- There is an outstanding demand on the income-tax portal. How do I agree or disagree with it?
- What is the penalty under section 270A for under-reporting or misreporting income, and how does immunity work?
- How do I reply to an income-tax notice on the portal, and can I ask for more time?
- I have appealed. Do I have to pay 20% of the demand to get a stay?
All Income tax questions, with short answers
Calculators
- Income tax: old vs newTax year 2026-27, individuals
- Property capital gainsWith indexation comparison
- HRA exemptionOld regime, salaried
- Presumptive incomeBusiness and professionals
- Shares and equity funds gainsSTCG and LTCG on listed equity
- Gratuity calculatorFormula and tax-free limit
- Advance tax scheduleInstalments and dates
Updates
- Income-tax Act, 2025: which law governs your yearThe Income-tax Act, 2025 came into force on 1 April 2026 and governs tax year 2026-27 onwards. Earlier years and pending proceedings continue under the 1961 Act.14 October 2026
- Got an income-tax notice? Five steps to take firstNote the deadline, check the notice is genuine, identify the Act and section, gather the records, and reply on the portal. What to do in the first few days.8 October 2026
Coming due dates
| Date | What is due | Who |
|---|---|---|
| 15 Nov | TDS certificates for July to September 2026 (non-salary, Form 131, formerly Form 16A) | Deductors, within 15 days of the quarterly statement due date |
| 21 Nov | Income-tax return for AY 2026-27 (FY 2025-26), tax audit cases | Assessees whose accounts are audited under section 44AB of the 1961 Act (now section 63 of the 2025 Act) (extended from 31 October 2026 by CBDT press release of 28 September 2026) |
| 30 Nov | TDS challan-cum-statement in Form 141 (formerly Forms 26QB, 26QC, 26QD and 26QE) for October 2026 | Payments for purchase of property, rent by individuals or HUFs, payments by individuals or HUFs to contractors and professionals (formerly section 194M), and VDA transfers (where applicable) |
| 30 Nov | Income-tax return for AY 2026-27, transfer pricing cases | Assessees required to furnish a report on international or specified domestic transactions |
| 7 Dec | TDS and TCS deposit for November 2026 | All deductors and collectors (other than Government deductors paying without challan) |
| 15 Dec | Advance tax, third instalment (75% cumulative) for tax year 2026-27 | All assessees liable to advance tax, other than presumptive taxpayers (section 58, formerly sections 44AD and 44ADA) |
Formats
-
Letter of authority to appear before authoritiesAuthorises a Chartered Accountant to appear, file and represent in a tax or other proceeding, including hearings by video conference, with notes for the income-tax and GST portals and tribunals.Word (.docx) | Updated 7 November 2026Download
-
Reply to an income-tax noticeA structured reply with facts, submissions, reconciliation and prayer, citing the right Act for the year (1961 or 2025), plus a pre-filing checklist.Word (.docx) | Updated 7 November 2026Download
-
Grounds of appeal: first appealStatement of facts, numbered grounds and prayer for a first appeal, with the forum rules for income tax (Form 35, now Form 99) and GST (APL-01, 10% pre-deposit).Word (.docx) | Updated 7 November 2026Download
-
Application for stay of demandSeeks a stay of recovery while an income-tax appeal is pending, under section 220(6) (now section 411(12)), with the CBDT 20% guideline and notes for GST.Word (.docx) | Updated 7 November 2026Download