Plain-English Tax Explainers for India
Income tax, GST, TDS — explained simply
New regime slabs for FY 2026-27 are 0% up to ₹4 lakh, 5% from ₹4–8 lakh, and 30% above ₹24 lakh — with no tax up to ₹12 lakh under Rebate 87A. Every section, slab, and rule in the Income Tax Act 2025 explained in plain English.
New regime slabs · FY 2026-27
Section 202 · effective 1 April 2026
| Income range | Rate | Tax on slab top |
|---|---|---|
| Up to ₹4 lakh | Nil | No tax |
| ₹4–8 lakh | 5% | ₹20,000 |
| ₹8–12 lakh | 10% | ₹60,000 |
| ₹12–16 lakh | 15% | ₹1,20,000 |
| ₹16–20 lakh | 20% | ₹2,00,000 |
| ₹20–24 lakh | 25% | ₹3,00,000 |
| Above ₹24 lakh | 30% | 30% of excess |
FinWiz24 is an independent, plain-English tax explainer for India. Every figure on this page is checked against a primary government source — the Income Tax Act 2025, the GST Council, incometax.gov.in, or RBI — before it goes live.
- Tax topics covered
- 21
- Sections in Income Tax Act 2025
- 536
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- 33
- Verified against FY 2026-27
- Oct 17 2026
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Income tax, GST, and TDS — every explainer in plain English.
Income Tax
New-regime slabs, Form 16, ITR filing, and advance tax under the Income Tax Act 2025.
Slabs · ITR · Act 2025
New Tax Act 2025
The Income Tax Act 2025 in plain English — what changed on 1 April 2026.
536 sections · In force · 1 Apr 2026
GST
CGST, SGST, IGST, input tax credit, GST returns (GSTR-1, GSTR-3B), and registration — consumer angle.
Rates · ITC · GST returns
TDS
TDS rates, thresholds, certificates (Form 16, 16A), TCS, and deductions on salary, interest, dividends.
Rates · Thresholds · Form 16
Compliance Calendar
ITR filing, advance tax, TDS, and GST deadlines for FY 2026-27 with penalty amounts and primary sources.
ITR · Advance tax · GST
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Income tax, EMI, GST, TDS, and lifetime savings calculators — no login required.
EMI · Income tax · TDS
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Personal, home, car, and business loan EMI — principal, interest, and tenure.
Loan Eligibility Calculator
Find out how much personal loan or home loan you may get based on your income and existing EMIs.
Income Tax Calculator
New regime slabs FY 2026-27 under the Income Tax Act 2025. See your tax, Rebate 87A, and cess in seconds.
Popular tax & GST explainers
Plain-English guides on the Income Tax Act 2025, GST, TDS, and compliance — verified against government sources.
- Income Tax
Business and Professional Income in India: How It Is Taxed Under the Income Tax Act 2025
If you run a freelance practice, a shop, a trading business, or any form of self-employment, your profits are taxed under the head 'Profits and Gains from Business or Profession'. Here is a plain-English guide to how the Income Tax Act 2025 computes and taxes that income.
- Income Tax
Capital Gains on Equity and Mutual Funds in India: STCG and LTCG Explained
Selling equity shares or equity mutual funds triggers capital gains tax in India. Short-term gains are taxed at 20%, long-term gains at 12.5% for equity. Here is how each category works, how to calculate your tax, and what the new regime changes.
- Income Tax
Capital Gains on Property in India: How It Is Taxed Under the Income Tax Act 2025
Selling a house or land triggers capital gains tax in India. Long-term gains are taxed at 20% with indexation; short-term gains are added to your income and taxed at slab rates. Here is how each works, what exemptions you can claim, and how to calculate your tax.
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Frequently Asked Questions
Plain-English answers on the new regime, Rebate 87A, advance tax, AIS, ITR forms, and more.
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Every tax, GST, TDS, and finance term used across the site, defined in plain English.
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ITR-1, ITR-2, Form 16, Form 26AS, and AIS — every income tax form in plain English.
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GSTR-1, GSTR-3B, GSTR-9 and the rest of the GST return family explained simply.
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Personal, home, car, and business loans — eligibility, EMI, and rate explainers.
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ITR, advance tax, TDS, GST, and Form 16 deadlines for FY 2026-27 in one place.
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Tax-slab notifications, GST Council decisions, and rule changes — verified within 30 days.
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