saacas.in

Indicative only. These tools are provided for general guidance. They do not cover every provision, exemption or special rate, and they do not constitute professional advice. Please have your position confirmed before acting on any figure shown here.
Content on this page is stated as at 16 August 2026 on the basis of the Income-tax Act, 2025 as amended by the Finance Act, 2026. Sources are listed at the foot of the page.

In force from 1 April 2026

The Income-tax Act, 2025

The Income-tax Act, 2025 replaced the Income-tax Act, 1961 with effect from 1 April 2026. Tax year 2026-27 is the first year governed by the new Act. Six points that matter in practice:

A single period called the tax year now serves the purpose that “previous year” and “assessment year” served under the 1961 Act. Ordinarily it runs from 1 April to 31 March. Where a business is newly set up, or a source of income newly comes into existence, the tax year begins on that date and ends on the following 31 March, so a first tax year can be shorter than twelve months. Income of a tax year continues to be assessed after that year ends.

Slab rates, the rebate and the standard deduction were carried forward substantially as they stood. That is not the same as saying nothing changed. The Finance Act, 2026 substituted the due-date table in section 263 with effect from 1 April 2026, adding a separate 31 August category, and the Income-tax Rules, 2026 renumbered the forms. Always check the current section, the rules made under it, any later Finance Act amendment and the date from which each takes effect.

Almost every familiar section now carries a different number. Tax audit moves from 44AB to section 63, the 87A rebate to section 156, 80C to section 123, 80G to section 133, and the new regime from 115BAC to section 202. The finder below sets out the correspondences.

The principal provisions are section 392 for tax deducted from salary, section 393 for tax deducted from other payments, and section 394 for tax collected at source. Collection at source was never part of the former Chapter XVII-B and remains a separate scheme. Rates and thresholds now sit in tables within section 393 rather than in a long series of separate sections, but the ancillary provisions continue to matter and are found elsewhere. Two of them are commonly confused: a certificate for lower or nil deduction or collection is applied for under section 395(1) or 395(3) in Form No. 128 (formerly section 197 or 206C(9), Form 13), whereas Form No. 121 is the declaration under section 393(6) and (7) by which a person whose tax liability is nil asks a payer not to deduct (formerly Forms 15G and 15H).

Provisions for registered non-profit organisations are consolidated in Part B of Chapter XVII, sections 332 to 355. Registration is under section 332 (formerly 12A / 12AB) and approval for donations under section 354 (formerly 80G), applied for in Forms 104 and 105.

Periods before 1 April 2026 continue to be dealt with under the 1961 Act by force of the repeal and savings provisions. That covers not only assessments already completed but also proceedings pending on that date and proceedings initiated afterwards in relation to an earlier year. Transactions up to 31 March 2026 remain governed by the old Act.

Tax year 2026-27 · Income-tax Act, 2025

Illustrative tax calculator for resident individuals

Scope. This tool computes tax on normal-rate income of a resident individual only. It does not apply to non-residents, firms, LLPs, companies, trusts or Hindu undivided families. It does not compute tax on income charged at special rates, does not apply statutory ceilings to the deductions you enter, and does not deal with agricultural income integration, alternate minimum tax, relief for arrears or foreign tax credit. It is an illustration, not a computation of liability.

This tool needs JavaScript, which is turned off in your browser. Please write to us at mail.rbr@icai.org or telephone +91 94400 50047 and we will give you the figure.

Salary and pension, after exemptions (₹) Enter salary and pension chargeable to tax after any applicable exemptions and including taxable perquisites, but before the standard deduction, which this tool applies. Do not include family pension, which is taxed as other income.

Taxable business or professional profit (₹) The computed profit chargeable to tax — not turnover or gross receipts.

Other income taxed at normal rates (₹) Interest; family pension after the deduction available against it, which this tool does not compute; and income from house property after the statutory deductions — not gross rent received.

Income taxed at special rates (₹) Capital gains and other income charged at prescribed rates. Entering any amount here disables the whole illustration, because the rebate and surcharge tests apply to total income and cannot be applied correctly to part of it.

Deductions — s.123 (80C), s.126 (80D), s.133 (80G) etc. (₹) Enter the amount you are actually eligible for. Statutory ceilings are not applied.

Age category

Selecting a regime here does not exercise a statutory option. Eligibility, the formalities for making or withdrawing the election, and the restrictions on switching — which are stricter where there is business or professional income — all require separate consideration.

Salary and pension—

Standard deduction—

Business or professional income—

Other income at normal rates—

Deductions—

Total income at normal rates—

Tax at slab rates—

Rebate u/s 156 (formerly 87A)—

Surcharge—

Health & education cess @ 4%—

Tax on normal-rate income—

Effective rate on normal-rate income—

Last legally reviewed on: 16 August 2026.

GST Calculator

This tool needs JavaScript, which is turned off in your browser. Please write to us at mail.rbr@icai.org or telephone +91 94400 50047 and we will give you the figure.

Amount (₹)

Treatment

Rate

Nature of supply

Taxable value—

CGST—

SGST—

Total GST—

Invoice value—

This tool does arithmetic only. It cannot determine classification, and it does not tell you the correct rate for a supply. Confirm the rate against the HSN or SAC and the date of supply.

The 12% and 28% rates were largely subsumed into 5% and 18%, subject to notified exceptions; both remain relevant for earlier periods and for specified items. Selecting “0%” performs arithmetic only — it does not determine whether a supply is exempt, nil rated or zero rated, and those three have materially different consequences for input tax credit. The equal division between CGST and SGST or UTGST is the ordinary position for an intra-State supply, not an invariable one.

Last legally reviewed on: 16 August 2026.

EMI Calculator

This tool needs JavaScript, which is turned off in your browser. Please write to us at mail.rbr@icai.org or telephone +91 94400 50047 and we will give you the figure.

Loan amount (₹)

Interest rate (% per annum)

Tenure (whole months)

Monthly instalment—

Number of instalments—

Principal—

Total interest—

Total amount payable—

The illustration assumes a fixed rate of interest, a monthly reducing balance and instalments paid regularly on the due date. It excludes processing and other fees, insurance, changes in the rate of interest, moratorium periods and prepayments. Your lender’s figure may differ.

Last legally reviewed on: 16 August 2026.

HRA Exemption Calculator — Rule 279 read with Schedule III [Table: Sl. No. 11]

This tool needs JavaScript, which is turned off in your browser. Please write to us at mail.rbr@icai.org or telephone +91 94400 50047 and we will give you the figure.

Basic salary for the relevant period (₹)

Dearness allowance forming part of pay (₹)

House rent allowance received for the period (₹)

Rent actually paid for the period (₹)

Location of the residential accommodation

Exemption is the least of the three amounts shown, under Rule 279 of the Income-tax Rules, 2026 read with Schedule III [Table: Sl. No. 11]. Available under the old regime only.

Salary for this purpose means basic salary together with dearness allowance where it is provided for under the terms of employment; all other allowances and perquisites are excluded. This tool assumes that basic salary and dearness allowance are the whole of the statutory base. Where remuneration includes commission or is structured differently, the base requires separate review and this tool should not be relied on. Figures must relate to the relevant period — the period during the tax year for which the accommodation was occupied. Where the salary, the rent or the location changed during the year, compute each period separately and add the results.

(a) HRA received—

(b) Rent paid less 10% of salary—

Exempt portion of HRA—

Taxable portion of HRA—

Standard recurring deadlines

Standard Compliance Deadlines

Rows marked “To be confirmed” are ones where the prescribed form or the due date under the Income-tax Rules, 2026 has not yet been settled. They are shown so that the obligation is not overlooked, but the form, applicability and date must each be confirmed for the particular case before filing. Do not treat them as checked entries.

Statutory due date	Compliance	Commonly	Notes
7th of the following month	Deposit of tax deducted at source	—	Ordinary non-government deductors. Tax deducted during a month is payable by the 7th of the next month; tax deducted in March is payable by 30 April. Where tax is paid by a Government office without production of a challan, and in certain transaction-specific cases, different timing applies.
7th of the following month	Deposit of tax collected at source	—	Collection at source under section 394 is a separate scheme from deduction at source and has its own due dates and statements. Confirm the position for the particular collection.
31 July, 31 October, 31 January and 31 May	Form No. 138 — quarterly statement, salary	Q1 to Q4	Deduction from salary under section 392, and income of a specified senior citizen under section 393(1) [Table Sl. No. 8(iii)]. Section 397(3)(b) read with Rule 219. Quarters ending June, September and December are due on 31 July, 31 October and 31 January of the financial year; the March quarter is due on 31 May of the financial year immediately following the tax year in which the deduction was made. Annexure I is filed each quarter; Annexures II and III only with the fourth quarter.
31 July, 31 October, 31 January and 31 May	Form No. 140 — quarterly statement, non-salary, residents	Q1 to Q4	Deduction from payments other than salary made to residents. Section 397(3)(b) read with Rule 219. Same quarterly dates as Form 138.
31 July, 31 October, 31 January and 31 May	Form No. 144 — quarterly statement, non-salary, non-residents	Q1 to Q4	Deduction from payments other than salary made to non-residents. Section 397(3)(b) read with Rule 219. Same quarterly dates as Form 138. A correction statement may be filed within two years from the end of the tax year in which the statement was due.
Quarterly	To be confirmed Statements of tax collected at source	Verify	Collection at source under section 394 carries its own statement and dates, separate from the three forms above. Confirm the form and date for the particular collection.
11th of the following month	GSTR-1 — statement of outward supplies	Monthly filers	Taxpayers under the QRMP scheme file quarterly, by the 13th of the month following the quarter.
20th of the following month	GSTR-3B — return and payment of tax	Monthly filers	QRMP taxpayers file quarterly, on the 22nd or 24th depending on the State, and pay for the first two months of the quarter in Form PMT-06 by the 25th.
Annual	To be confirmed Composition taxpayers — annual return	Verify	GSTR-9A has not applied since the financial year 2019-20. Composition taxpayers file under the GSTR-4 annual return framework. Confirm the applicable form and its due date before filing.
15th of the following month	Provident Fund and ESI contributions	—	Employer and employee contributions in respect of the preceding month.
15 June, 15 September, 15 December and 15 March	Advance tax instalments	Where liability is ₹ 10,000 or more	15%, 45%, 75% and 100% of the estimated liability, cumulatively. Instalment treatment differs for assessees computing income on a presumptive basis, and is not identical across the presumptive schemes. Confirm the position for the scheme relied on.
One month before the due date for the return	Form No. 26 — tax audit report u/s 63	Commonly 30 September	Prescribed under section 63 read with Rule 47 of the Income-tax Rules, 2026, for tax years commencing on or after 1 April 2026. Where the return is due on 31 October the report is due 30 September; where it is due on 30 November the report is due 31 October. Forms 3CA, 3CB and 3CD continue for earlier years. UDIN and the firm registration number must be quoted.
30 November	Return of income — where a report on international or specified domestic transactions is required	30 November	Section 263(1)(c), Table Sl. No. 1, as substituted with effect from 1 April 2026. Includes a partner of such a firm, and the spouse of such a partner where section 10 applies.
31 October	Return of income — companies and audit cases	31 October	Section 263(1)(c), Table Sl. No. 2. Companies; assessees other than companies whose accounts require audit under this or any other law; and partners of an audited firm, and their spouses where section 10 applies. Applies only where the 30 November category above does not.
31 August	Return of income — non-audited business or profession	31 August	Section 263(1)(c), Table Sl. No. 3. Assessees having income from business or profession whose accounts are not required to be audited, and partners of a non-audited firm, and their spouses where section 10 applies. Applies only where the 30 November category above does not. This category did not exist before the substitution made with effect from 1 April 2026.
31 July	Return of income — any other assessee	31 July	Section 263(1)(c), Table Sl. No. 4. The residual category, which includes most salaried individuals. Each due date above falls in the financial year succeeding the relevant tax year: for tax year 2026-27 the dates fall in the financial year 2027-28.
One month before the due date for the return	To be confirmed Audit report of a registered non-profit organisation	Verify for the category	Institutions registered under section 332 (formerly 12A / 12AB). The applicable provision, the prescribed form under the Income-tax Rules, 2026 and the taxpayer category should each be confirmed before filing.
Annual — verify the current form and date	To be confirmed Statement of donations received	Approved institutions	Required of institutions approved under section 354 (formerly 80G). The prescribed form under the Income-tax Rules, 2026 and its due date should be confirmed before filing; the former reference was Form 10BD, ordinarily due 31 May.
Following the statement	To be confirmed Certificate of donation issued to each donor	Approved institutions	A separate requirement from the statement above, with its own form and timing. The former reference was Form 10BE. Confirm the current form and date.
31 December	GSTR-9 and GSTR-9C — annual return and reconciliation	Not required for every registered person	GSTR-9 is not required below the notified turnover threshold, and GSTR-9C only above a higher threshold. Confirm applicability before assuming a filing obligation.
Within 30 days of the annual general meeting	Form AOC-4 — financial statements	Commonly 30 October	The illustrative date assumes an annual general meeting held on 30 September. A different meeting date shifts the due date.
Within 60 days of the annual general meeting	Form MGT-7 / MGT-7A — annual return	Commonly 29 November	The illustrative date assumes an annual general meeting held on 30 September. MGT-7A applies to one person companies and small companies. A one person company is not required to hold an annual general meeting, so the AGM-linked measure does not apply to it in the same way; confirm the position for the particular company.
30 May	Form 11 — LLP annual return	—	Required of every LLP irrespective of turnover.
30 October	Form 8 — LLP statement of account and solvency	—	Due within 30 days after the expiry of six months from the close of the financial year. For a financial year ending 31 March, those six months end on 30 September and the filing falls due on 30 October.
31 December	Form FC-4 — FCRA annual return	—	For associations registered under, or holding prior permission under, the Foreign Contribution (Regulation) Act, 2010. A return is required even where no foreign contribution was received or utilised during the year.

The first column states the statutory rule. The third column gives a date that commonly results from that rule, as an illustration only — it will not be the correct date for every taxpayer. Extensions notified from time to time by the CBDT, the CBIC or the MCA are not reflected.

Last legally reviewed on: 16 August 2026.

Form numbers. Prescribed forms are being renumbered under the Income-tax Act, 2025 and the rules made under it. Registration of a non-profit organisation is now applied for in Form 105 and provisional registration in Form 104, and a declaration for receipt of income without deduction in Form 121, and an application for a lower or nil deduction certificate in Form 128. Where a familiar form number is mentioned above, please confirm the form currently prescribed before filing.

Indirect tax

GST rate structure

The GST Council, at its 56th meeting on 3 September 2025, recommended a restructuring of the rate schedule. Those recommendations took legal effect through notifications issued by the Central Government and the States, most of them operative from 22 September 2025. The table below summarises the principal rates that resulted; it is not a classification guide.

Rate	Covers	Note
Nil	Specified food items, healthcare and educational services and other supplies notified as exempt or nil rated	Nil rated, exempt and zero rated are three distinct concepts with different input tax credit consequences. A zero-rated supply — broadly an export, or a supply to a special economic zone developer or unit for its authorised operations — is not a nil tariff entry and generally preserves credit
5%	Essential and everyday goods, and specified services	Absorbed a large part of the former 12% slab
18%	The standard rate — most goods and services	Absorbed most of the former 28% slab
40%	Specified goods, including certain tobacco products, pan masala and certain other items	Not every tobacco product carries the same rate. With effect from 1 February 2026 bidis are chargeable at 18%, while specified other tobacco and pan masala products are at 40%, alongside changes in valuation. GST may not be the only levy on such goods. Read the operative notification for the particular product

The operative instrument is the notification, not the Council’s recommendation, and different items took effect on different dates. Where a rate changes, section 14 of the CGST Act determines which rate applies by reference to the date of supply, the date of the invoice and the date of payment — so a supply made before 22 September 2025 does not automatically carry the earlier rate. Confirm the rate against the HSN or SAC, the relevant notification and those three dates.

Last legally reviewed on: 16 August 2026.

Slab rates — tax year 2026-27

New regime — section 202 (formerly 115BAC)

Total income	Rate
Up to ₹ 4,00,000	Nil
₹ 4,00,001 – 8,00,000	5%
₹ 8,00,001 – 12,00,000	10%
₹ 12,00,001 – 16,00,000	15%
₹ 16,00,001 – 20,00,000	20%
₹ 20,00,001 – 24,00,000	25%
Above ₹ 24,00,000	30%

Rebate under section 156 up to ₹ 60,000 where total income does not exceed ₹ 12,00,000, with marginal relief just above that figure. Standard deduction of ₹ 75,000 for salaried assessees under section 19.

Old regime — individuals below 60

Total income	Rate
Up to ₹ 2,50,000	Nil
₹ 2,50,001 – 5,00,000	5%
₹ 5,00,001 – 10,00,000	20%
Above ₹ 10,00,000	30%

Basic exemption is ₹ 3,00,000 for senior citizens and ₹ 5,00,000 for super senior citizens. Rebate up to ₹ 12,500 where total income does not exceed ₹ 5,00,000. Standard deduction ₹ 50,000.

1961 → 2025

Section Finder

Where a provision of the Income-tax Act, 1961 now sits in the Income-tax Act, 2025. The two right-hand columns give section numbers, and where a form is the practical reference, the form number as well — each is labelled in the cell. Search by subject, by section number or by form number.

A bare number matches section and form numbers in either column. Type “Form 128” to search form numbers only.

Provision	Under the 2025 Act / Rules 2026	Under the 1961 Act / Rules 1962
Definition of “tax year”	3	3 (previous year)
Charge of income-tax	4	4
Scope of total income	5	5
Residence in India	6	6
Incomes not included in total income	11 + Schedules II–VII	10
Heads of income	13	14
Salaries — charge	15	15
Income from salary	16	17
Perquisites	17	17
Profits in lieu of salary	18	17
Deductions from salary — standard deduction, gratuity, leave encashment	19	16, 10(10), 10(10A), 10(10AA), 10(10C)
Income from house property	20	22
Determination of annual value	21	23
Deductions — standard 30% and interest	22	24
Arrears and unrealised rent	23	25A
Property owned by co-owners	24	26
Profits and gains of business or profession	26	28
Rent, rates, taxes, repairs and insurance	28	30, 31, 38
Depreciation	33	32
General conditions for allowable deductions	34	37
Amounts not deductible	35	40
Expenses not deductible — cash payments etc.	36	40A
Deductions allowed on actual payment only	37	43B
Amortisation of preliminary expenses	44	35D
Presumptive taxation — business, profession, goods carriages	58	44AD, 44ADA, 44AE
Maintenance of books of account	62	44AA
Tax audit	63	44AB
Capital gains — charge	67	45
Transactions not regarded as transfer	70	47
Mode of computation of capital gains	72	48
Cost with reference to certain modes of acquisition	73	49
Depreciable assets	74	50
Slump sale	77	50B
Stamp duty value as full value of consideration	78	50C
Exemption — residential house	82	54
Exemption — agricultural land	83	54B
Exemption — investment in specified bonds	85	54EC
Exemption — investment in residential house	86	54F
Cost of acquisition and cost of improvement	90	55
Reference to Valuation Officer	91	55A
Income from other sources	92	56
Clubbing — income of spouse, minor child	99	64
Unexplained credits	102	68
Unexplained investment	103	69, 69B
Set off of losses under the same head	108	70
Carry forward and set off of business loss	112	72
Submission of return for losses	121	80
Life insurance premia, provident fund, etc.	123 + Schedule XV	80C, 80CCC, 80CCE
Contribution to pension scheme	124 + Schedule XV	80CCD
Health insurance premia	126	80D
Dependant with disability	127	80DD
Medical treatment of specified diseases	128	80DDB
Interest on education loan	129	80E
Purchase of electric vehicle	132	80EEB
Donations to charitable institutions	133	80G
Rent paid — where no HRA is received	134	80GG
Contributions to political parties	136, 137	80GGB, 80GGC
Additional employee cost	146	80JJAA
Inter-corporate dividends	148	80M
Income of co-operative societies	149	80P
Interest on deposits	153	80TTA, 80TTB
Person with disability	154	80U
Rebate in computing income-tax	155	87
Rebate for certain individuals	156	87A
Relief where salary is paid in arrears	157	89
Double taxation relief — agreement with foreign countries	159	90, 90A
Double taxation relief — no agreement	160	91
New tax regime for individuals, HUFs and others	202	115BAC
Permanent Account Number	262	139A, 139AA
Return of income	263	139
Return by whom to be verified	265	140
Self-assessment	266	140A
Tax on updated return	267	140B
TDS on salary	392	192
TDS on payments other than salary — single consolidated section	393	193 to 195, 194A to 194T
Certificate for lower or nil deduction of tax	395(1) — Form 128	197 — Form 13
Certificate for lower collection of tax	395(3) — Form 128	206C(9) — Form 13
Declaration for receipt of certain income without deduction	393(6), 393(7) — Form 121	197A — Forms 15G, 15H
Quarterly statement — salary, and specified senior citizen income	397(3)(b) — Form 138	200(3) — Form 24Q
Quarterly statement — non-salary payments to residents	397(3)(b) — Form 140	200(3) — Form 26Q
Quarterly statement — non-salary payments to non-residents	397(3)(b) — Form 144	200(3) — Form 27Q
Tax collected at source	394	206C
Tax deducted is income received	396	198
Registration of a non-profit organisation	332	12A, 12AA, 12AB
Provisions for registered non-profit organisations, consolidated	Chapter XVII, Part B (332–355)	11, 12, 12A–13, 10(23C)
Approval for deduction on donations received	354	80G approval
Definitions relating to non-profit organisations	355	—

This finder covers provisions in common use and is not a complete correspondence. It is a working aid prepared from the Income Tax Department’s published material, and is not a certified concordance. It has not been verified entry by entry, and should not be relied on without checking the provision. Where a point turns on the exact wording, read the provision itself — Income-tax Act, 2025 and Income-tax Rules, 2026.

Last legally reviewed on: 16 August 2026.

Capital gains

Cost Inflation Index

Financial year	Index
2001-02	100
2002-03	105
2003-04	109
2004-05	113
2005-06	117
2006-07	122
2007-08	129
2008-09	137
2009-10	148
2010-11	167
2011-12	184
2012-13	200
2013-14	220
2014-15	240
2015-16	254
2016-17	264
2017-18	272
2018-19	280
2019-20	289
2020-21	301
2021-22	317
2022-23	331
2023-24	348
2024-25	363
2025-26	376
2026-27	384

Base year 2001-02 = 100. The index for FY 2025-26 is 376, notified by Notification No. 70/2025 dated 1 July 2025. The index for FY 2026-27 is 384, notified by Notification No. 85/2026 dated 15 July 2026.

Indexed cost of acquisition

Indexed cost = Cost of acquisition × (Index for the year of transfer ÷ Index for the year of acquisition, or for 2001-02 where the asset was acquired before 1 April 2001).

Last legally reviewed on: 16 August 2026.

Indexation is not available for every asset or every taxpayer. The Finance (No. 2) Act, 2024 withdrew it for a number of classes of asset, and the relief preserved in relation to certain immovable property acquired before 23 July 2024 is narrowly drawn — it depends on the category of taxpayer, the nature of the asset and the date of acquisition, and it operates as a comparison between two computations rather than as a general election. Do not assume it applies. Please have the position confirmed for the particular asset and taxpayer before computing.

Sources

Figures on this page are taken from the following. Where a notification is cited, the notification prevails over anything stated here.

Rates of deduction and collection at source are not tabulated on this page. Please write to us for the rate and threshold applicable to a particular payment.

Have a notice, an assessment or a compliance question?

Send a brief description of the matter and any deadline. We will assess whether we are able to accept it, and discuss the information and scope required.

Send an Enquiry Call +91 94400 50047


	Home The Firm Our Team Services Knowledge Bank Careers Contact Us

Knowledge Bank

The Income-tax Act, 2025

Illustrative tax calculator for resident individuals

GST Calculator

EMI Calculator

HRA Exemption Calculator — Rule 279 read with Schedule III [Table: Sl. No. 11]

Standard Compliance Deadlines

GST rate structure

Slab rates — tax year 2026-27

New regime — section 202 (formerly 115BAC)

Old regime — individuals below 60

Section Finder

Cost Inflation Index

Indexed cost of acquisition

Sources

Have a notice, an assessment or a compliance question?