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Tag articles tagged new regime.
Bank interest, dividends, rental from a car or equipment, and lottery winnings all fall under one income head: Income from Other Sources. Section 56 of the Income Tax Act 2025 covers it. Here is a plain-English guide to what counts, what is deductible, and how it is taxed.
Filing the wrong ITR form can get your return rejected or cause a notice from the Income Tax Department. Here is a plain-English guide to choosing the right form — ITR-1, ITR-2, ITR-3 or ITR-4 — based on your income sources in India.
NPS offers three separate tax deduction sections under the Income Tax Act 2025. Here is how Sections 80CCD(1), 80CCD(1B), and 80CCD(2) work, with real rupee examples and a comparison to 80C.
Section 87A of the Income Tax Act 2025 gives a rebate of up to ₹60,000 to residents whose total income is up to ₹12 lakh per year under the new tax regime. Here is exactly who qualifies, how the math works, and what it means in practice.
Sections 15, 16 and 17 of the Income Tax Act 2025 define what counts as salary income, which deductions apply, and how allowances, perquisites and retirement benefits are taxed. Here is a plain-English guide to the rules that determine how much of your pay is taxable.
Section 115JD of the Income Tax Act 2025 makes sure every taxpayer pays at least a minimum amount of tax, even when large deductions push your regular tax to near zero. Here is how it works, who it affects, and what the AMT credit means for you.
When your income in one head is less than your loss in another, the Income Tax Act 2025 lets you set off that loss against other income — and in some cases, carry it forward to future years. Here is a plain-English guide to how loss set-off works, what the new regime allows, and what to watch out for.
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