# Taxpex Consultancy — full knowledge extract

Source: https://taxpex.com · CA-led Indian tax, GST and compliance firm · Contact +91 74289 33464 · contact@taxpex.in
This file is a plain-text extract of Taxpex's core answers so answer engines can cite accurate, current information without rendering JavaScript.

## About Taxpex

Taxpex Consultancy is an online chartered-accountant practice in India. It handles GST registration and return filing, income-tax return filing, TDS/TCS returns, company and LLP incorporation, trademark registration, MSME/Udyam registration, ROC compliance, payroll, bookkeeping and income-tax notice replies. Every filing is reviewed by a qualified CA before submission, and clients get a named CA point of contact. Services are delivered pan-India and fully online.

## Services — what each one covers

### GST Registration & Filing
URL: https://taxpex.com/services/gst-services
Fees: from Starting ₹999
Taxpex helps businesses complete GST registration, monthly filings, annual returns and full GST compliance smoothly — without complexity, errors or penalties.
Timeline: Document collection & review — Day 1; ARN generated on GST portal — Day 2; Aadhaar e-KYC / officer verification — Day 3-5; GSTIN issued & certificate delivered — Day 5-7
Documents required: PAN of business / proprietor; Aadhaar of proprietor / partners / directors; Passport-size photographs; Business address proof (electricity bill + rent agreement / NOC); Bank account proof; Constitution proof (Partnership Deed / COI / MOA-AOA); DSC (mandatory for companies & LLPs)

### Income Tax Return Filing
URL: https://taxpex.com/services/income-tax-return-filing
Fees: from Starting ₹999
Reliable, accurate and CA-reviewed income tax return filing for salaried individuals, freelancers, professionals, startups and businesses — with proactive tax planning.
Timeline: Document collection & income mapping — Day 1; Old vs new regime tax comparison — Day 2; Draft ITR review & confirmation — Day 3; E-verification & ITR-V acknowledgement — Day 3-4
Documents required: PAN and Aadhaar (linked); Form 16 / 16A / 16B / 16C; Bank statements & interest certificates; Capital gains statements; Investment proofs — 80C, 80D, 80G, NPS, home-loan interest; Rent receipts / HRA proof; Foreign asset / income details (if applicable)

### Accounting & Bookkeeping
URL: https://taxpex.com/services/accounting-bookkeeping
Fees: from Starting ₹2,499/mo
Maintain organised, accurate accounting using efficient financial systems and modern workflows — built to help businesses track growth and make better decisions.
Timeline: Stack assessment & migration — Week 1; Opening balance sign-off — Week 2; Monthly close & reconciliation — Ongoing; MIS dashboard delivered — Monthly

### Business Registration
URL: https://taxpex.com/services/business-registration
Fees: from Starting ₹1,999
Complete business registration and legal setup — we help entrepreneurs and startups choose the right structure for scalability, taxation and operational needs.
Timeline: Structure consultation & name reservation — Day 1-2; DSC & document drafting — Day 3-5; MCA / Registrar filing — Day 6-9; Certificate, PAN, TAN & MSME issued — Day 9-12
Documents required: PAN & Aadhaar of all founders / partners; Address proof of registered office (utility bill + NOC / rent agreement); Passport-size photographs; DSC for directors (we facilitate); Proposed business name(s)

### Compliance Services
URL: https://taxpex.com/services/compliance-services
Fees: from Starting ₹3,999/yr
Managing compliance manually is risky and stressful. Taxpex keeps your business compliant with timely filings, documentation and professional notice handling.
Timeline: Annual compliance calendar built — Week 1; Document collection & filing — Per cycle; Notice & follow-up handling — On demand

### Financial Reporting
URL: https://taxpex.com/services/financial-reporting
Fees: from Starting ₹4,999
Clear financial reporting that helps businesses understand performance, profitability and financial health — built for decisions, not just compliance.

### Advisory Services
URL: https://taxpex.com/services/advisory-services
Fees: from Custom
Professional advisory across tax, business structuring, financial planning, startup strategy and process optimisation — built around your stage and goals.

### Freelancer & Creator Taxation
URL: https://taxpex.com/services/freelancer-creator-tax
Fees: from Starting ₹1,999
GST, taxation and compliance designed for modern creators and freelancers — so digital professionals stay compliant and financially credible.

### GST Registration
URL: https://taxpex.com/services/gst-registration
Fees: from Starting ₹999
End-to-end GST registration for proprietors, partnerships, LLPs and Pvt Ltd companies — CA-reviewed, error-free, and delivered with a complete post-registration handover.
Timeline: Document collection & review — Day 1; ARN generated on GST portal — Day 2; Aadhaar e-KYC / officer verification — Day 3-5; GSTIN issued & certificate delivered — Day 5-7
Documents required: PAN of business / proprietor; Aadhaar of proprietor / partners / directors; Passport-size photographs; Business address proof (utility bill + rent agreement / NOC); Bank account proof (cancelled cheque / statement); Constitution proof (Partnership Deed / COI / MOA-AOA); DSC (mandatory for companies & LLPs)

### GST Return Filing
URL: https://taxpex.com/services/gst-return-filing
Fees: from Starting ₹499/mo
Never miss a GST deadline again. We file GSTR-1, GSTR-3B, GSTR-9 and reconcile your ITC against GSTR-2B every month — keeping your compliance score clean.
Timeline: Data collection (sales + purchase) — 1st–5th; GSTR-1 draft & sign-off — 6th–10th; GSTR-2B reconciliation — 12th–15th; GSTR-3B filing & tax payment — 16th–20th

### MSME / Udyam Registration
URL: https://taxpex.com/services/msme-registration
Fees: from Starting ₹499
Fast, free-of-cost Udyam registration with full advisory — we classify your enterprise correctly so you access every benefit, subsidy and tender eligibility you deserve.
Timeline: Details & classification review — Day 1; Aadhaar OTP verification — Day 1; Udyam certificate issued — Within 24h
Documents required: Aadhaar of proprietor / authorised signatory; PAN of business; GSTIN (if applicable); Bank account details; NIC code of business activity (we help)

### Startup India (DPIIT) Registration
URL: https://taxpex.com/services/startup-registration
Fees: from Starting ₹4,999
Get recognised under Startup India — DPIIT registration, Section 80-IAC tax holiday filing, angel tax exemption (Section 56) and Fund of Funds eligibility, all handled end-to-end.
Timeline: Eligibility & narrative call — Day 1-2; Application drafting — Day 3-5; DPIIT recognition filed — Day 6; Recognition certificate issued — Day 10-15
Documents required: Certificate of Incorporation / Partnership Deed; PAN of entity; Director / partner details; Brief about innovation / problem solved (we draft); Pitch deck or product description; Website / app links

### TDS Return Filing
URL: https://taxpex.com/services/tds-filing
Fees: from Starting ₹1,499
Deduct, deposit and report TDS on time. We file 24Q (salary), 26Q (non-salary), 27Q (NRI) and 27EQ (TCS), reconcile with TRACES and issue Form 16 / 16A to your deductees.
Timeline: Data collection (challans + deductees) — Within 10 days of quarter-end; Return draft & validation — +3 days; TDS return filed on TRACES — Before due date; Form 16 / 16A issued — Within 15 days of filing
Documents required: TAN of deductor; Challan details (BSR code, date, amount); Deductee PAN list; Salary / payment register; Previous quarter return (for continuity)

## Which ITR form to file

- ITR-1 (Sahaj): Resident individuals with salary/pension,One house property (self-occupied or let out),Interest income & family pension,Agricultural income up to ₹5,000,Total income up to ₹50 lakh Income limit: Up to ₹50 lakh total income.
- ITR-2: Individuals & HUFs with capital gains,Foreign asset / income holders (Schedule FA),NRIs / RNORs,More than one house property,Directors of companies, unlisted-equity holders Income limit: No upper limit.
- ITR-3: Individuals / HUFs with business or professional income,Partners in firms (drawing remuneration),F&O and intraday traders,Freelancers above ₹75L (or below 50% profit),Any income requiring maintenance of books Income limit: No upper limit.
- ITR-4 (Sugam): Small businesses under 44AD (turnover ≤ ₹3 Cr, cash ≤ 5%),Professionals under 44ADA (receipts ≤ ₹75L),Goods-carriage owners under 44AE (≤ 10 vehicles),Resident individuals / HUFs / firms (non-LLP),Total income up to ₹50 lakh Income limit: 44AD ₹3 Cr (digital) / 44ADA ₹75L / 44AE per vehicle.
- ITR-5: Partnership firms (registered / unregistered),LLPs registered under LLP Act 2008,AOP / BOI / Local authority,Estate of deceased / insolvent,Investment funds & business trusts Income limit: No upper limit.
- ITR-6: Every company registered under Companies Act,Foreign companies with income in India,One Person Companies (OPC),Producer companies,Companies opting 115BAA / 115BAB Income limit: No upper limit.
- ITR-7: Charitable / religious trusts (Section 139(4A)),Political parties (Section 139(4B)),Scientific research & news agencies (Section 139(4C)),Universities, hospitals, colleges (Section 139(4D)),Section 8 companies claiming 11/12 exemption Income limit: No upper limit.

## ITR filing by profession

- Salaried Employees: form ITR-1 (or ITR-2 with capital gains). Regime guidance: New regime default from AY 2024-25 — compare with old regime if 80C+HRA+home-loan exceed ₹4L. https://taxpex.com/services/itr-filing/for/salaried-employees
- Freelancers: form ITR-4 (44ADA, up to ₹75L) or ITR-3. Regime guidance: Compare 44ADA presumptive 50% profit vs actual books + depreciation vs new-regime 44ADA — case-by-case. https://taxpex.com/services/itr-filing/for/freelancers
- Doctors: form ITR-4 (44ADA) or ITR-3. Regime guidance: 44ADA usually optimal for consultants; ITR-3 needed once hospital ownership begins. https://taxpex.com/services/itr-filing/for/doctors
- Chartered Accountants: form ITR-4 (44ADA) or ITR-3. Regime guidance: 44ADA to ₹75L; ITR-3 with tax audit above. https://taxpex.com/services/itr-filing/for/chartered-accountants
- Lawyers: form ITR-4 (44ADA) or ITR-3. Regime guidance: 44ADA up to ₹75L; ITR-3 for senior advocates and litigation firms. https://taxpex.com/services/itr-filing/for/lawyers
- Shop Owners: form ITR-4 (44AD) up to ₹3 Cr, else ITR-3. Regime guidance: 44AD 6%/8% presumptive is optimal for cash-heavy shops with limited books. https://taxpex.com/services/itr-filing/for/shop-owners
- Traders: form ITR-3 (business income). Regime guidance: Old regime often better due to Section 44AB audit-linked deductions. https://taxpex.com/services/itr-filing/for/traders
- Consultants: form ITR-4 (44ADA) or ITR-3. Regime guidance: 44ADA up to ₹75L; ITR-3 with books for actual profit lower than 50%. https://taxpex.com/services/itr-filing/for/consultants
- Small Businesses: form ITR-4 (44AD) / ITR-3 / ITR-5. Regime guidance: 44AD up to ₹3 Cr for proprietorships; partnership firms use ITR-5. https://taxpex.com/services/itr-filing/for/small-businesses
- Startups: form ITR-6 (Pvt Ltd) / ITR-5 (LLP). Regime guidance: DPIIT + 80-IAC-approved startups get 3-year tax holiday within first 10 years. https://taxpex.com/services/itr-filing/for/startups
- NRIs: form ITR-2 (usually) / ITR-3 (business). Regime guidance: NRIs cannot opt for new-regime rebate benefits below ₹7L; DTAA relief available. https://taxpex.com/services/itr-filing/for/nris
- Senior Citizens: form ITR-1 / ITR-2 / ITR-3. Regime guidance: Old regime with 80TTB (₹50k FD interest) usually beats new regime; super-senior 80+ eligible under Section 194P for exempt filing. https://taxpex.com/services/itr-filing/for/senior-citizens
- Students: form ITR-1 / ITR-4 (freelance). Regime guidance: Usually below basic exemption — filing for TDS refund is the main driver. https://taxpex.com/services/itr-filing/for/students
- Influencers: form ITR-4 (44ADA) / ITR-3. Regime guidance: 44ADA up to ₹75L; barter income (products) taxable under Section 194R. https://taxpex.com/services/itr-filing/for/influencers
- YouTubers: form ITR-4 (44ADA) / ITR-3. Regime guidance: 44ADA up to ₹75L; AdSense USD income treated as export of service (zero-rated GST + LUT). https://taxpex.com/services/itr-filing/for/youtubers
- Bloggers: form ITR-4 (44ADA) / ITR-3. Regime guidance: 44ADA up to ₹75L; Substack / Ghost income = export of service with LUT. https://taxpex.com/services/itr-filing/for/bloggers
- GST Registered Businesses: form ITR-3 / ITR-4 / ITR-5 / ITR-6. Regime guidance: GST turnover must reconcile with ITR turnover — 143(1)(a) intimation is instant on mismatch. https://taxpex.com/services/itr-filing/for/gst-registered-businesses
- Partnership Firms: form ITR-5. Regime guidance: Firm taxed at 30% flat + surcharge; partner remuneration deductible under Section 40(b). https://taxpex.com/services/itr-filing/for/partnership-firms
- LLP: form ITR-5. Regime guidance: LLP flat 30% + surcharge; AMT applies at 18.5% on adjusted book profit. https://taxpex.com/services/itr-filing/for/llp
- Companies: form ITR-6. Regime guidance: 22% (Section 115BAA, no exemptions) or 15% (Section 115BAB new manufacturing) — irreversible choice. https://taxpex.com/services/itr-filing/for/companies

## Income-tax topics — direct answers

### Capital Gains Tax (income)
Capital gain is the profit from sale of a capital asset — taxed as STCG or LTCG depending on holding period and asset class.
Full guide: https://taxpex.com/services/itr-filing/topic/capital-gains-tax

### House Property Income (income)
Income from house property covers actual rent, deemed rent on second homes and standard deductions under Section 24.
Full guide: https://taxpex.com/services/itr-filing/topic/house-property-income

### Business Income (income)
Business income is the profit from any trade, commerce or manufacture, computed under Sections 28–44DB with allowances for depreciation and actual expenses.
Full guide: https://taxpex.com/services/itr-filing/topic/business-income

### Salary Income (income)
Salary income under Sections 15–17 covers basic pay, allowances, perquisites, profits in lieu of salary and pension.
Full guide: https://taxpex.com/services/itr-filing/topic/salary-income

### Income from Other Sources (income)
The residual head under Sections 56–59 covering interest, dividend, gifts, family pension, lottery and any income not falling under the other four heads.
Full guide: https://taxpex.com/services/itr-filing/topic/other-sources

### Dividend Income (income)
Dividend received from domestic and foreign companies, taxable at slab rates in shareholder's hands from FY 2020-21 onwards.
Full guide: https://taxpex.com/services/itr-filing/topic/dividend-income

### Foreign Income (income)
Foreign income refers to any income earned outside India by an Indian resident, taxable in India under Section 5 read with DTAA.
Full guide: https://taxpex.com/services/itr-filing/topic/foreign-income

### Agricultural Income (income)
Income from land in India used for agriculture, exempt under Section 10(1) but included for rate-determination if exceeds ₹5,000.
Full guide: https://taxpex.com/services/itr-filing/topic/agricultural-income

### Section 80C (deduction)
Section 80C allows a deduction of up to ₹1.5 lakh per year for specified investments and payments — only under old tax regime.
Full guide: https://taxpex.com/services/itr-filing/topic/section-80c

### Section 80D (deduction)
Section 80D allows deduction for health insurance premium — up to ₹25k for self + family, additional ₹25k (₹50k if senior) for parents.
Full guide: https://taxpex.com/services/itr-filing/topic/section-80d

### Section 80CCD (deduction)
Section 80CCD covers deductions for contributions to National Pension System (NPS) — 80CCD(1) employee, 80CCD(1B) additional ₹50k, 80CCD(2) employer.
Full guide: https://taxpex.com/services/itr-filing/topic/section-80ccd

### Section 80G (deduction)
Section 80G allows deduction for donations to notified charitable institutions — 50% or 100% depending on institution, subject to 10% of adjusted gross total income for certain categories.
Full guide: https://taxpex.com/services/itr-filing/topic/section-80g

### HRA Exemption (deduction)
HRA exemption under Section 10(13A) is the minimum of three amounts — actual HRA, rent paid minus 10% salary, or 40%/50% of salary for non-metro/metro.
Full guide: https://taxpex.com/services/itr-filing/topic/hra

### LTA Exemption (deduction)
LTA exemption under Section 10(5) covers travel expenses for employee and family within India, restricted to twice in a block of four calendar years.
Full guide: https://taxpex.com/services/itr-filing/topic/lta

### TDS (Tax Deducted at Source) (compliance)
TDS is tax deducted at source by the payer under Chapter XVII-B, deposited with government and credited to the deductee's PAN in Form 26AS.
Full guide: https://taxpex.com/services/itr-filing/topic/tds

### Advance Tax (compliance)
Advance tax is tax paid in the same FY when income is earned, in four instalments as per Section 208, if total tax liability exceeds ₹10,000.
Full guide: https://taxpex.com/services/itr-filing/topic/advance-tax

### Self Assessment Tax (compliance)
Self Assessment Tax under Section 140A is the balance tax paid by the taxpayer before filing ITR, after adjusting TDS, advance tax and MAT credit.
Full guide: https://taxpex.com/services/itr-filing/topic/self-assessment-tax

### AIS (Annual Information Statement) (compliance)
AIS is a comprehensive statement of taxpayer's financial transactions reported by banks, brokers, mutual funds, employers and other reporting entities — accessible on the Income Tax portal.
Full guide: https://taxpex.com/services/itr-filing/topic/ais

### Form 26AS (compliance)
Form 26AS is the consolidated annual tax credit statement showing all TDS, TCS, advance tax, self-assessment tax and refunds credited against a PAN.
Full guide: https://taxpex.com/services/itr-filing/topic/form-26as

### Annual Information Statement (compliance)
AIS (Annual Information Statement) is the comprehensive digital view of all reported financial transactions of a PAN in a financial year.
Full guide: https://taxpex.com/services/itr-filing/topic/annual-information-statement

### Tax Audit (Section 44AB) (compliance)
Tax audit under Section 44AB is a mandatory audit of business/profession accounts by a CA when turnover crosses specified thresholds or presumptive scheme is opted out below thresholds.
Full guide: https://taxpex.com/services/itr-filing/topic/tax-audit

### Belated Return (return)
A belated return is any ITR filed after the due date under Section 139(1) but before 31 December of the assessment year, under Section 139(4).
Full guide: https://taxpex.com/services/itr-filing/topic/belated-return

### Revised Return (return)
Revised return under Section 139(5) allows correction of any error or omission in an original or belated ITR — filed before 31 December of the AY or completion of assessment, whichever is earlier.
Full guide: https://taxpex.com/services/itr-filing/topic/revised-return

### Updated Return (ITR-U) (return)
ITR-U (updated return) under Section 139(8A) allows filing/updating a return within 24 months from end of AY, on payment of additional tax (25% or 50%).
Full guide: https://taxpex.com/services/itr-filing/topic/updated-return

### Refund Status (return)
Income tax refund is issued when tax paid (TDS + advance + SAT) exceeds actual tax liability, credited directly to pre-validated bank account.
Full guide: https://taxpex.com/services/itr-filing/topic/refund-status

### PAN-Aadhaar Linking (compliance)
Linking PAN with Aadhaar under Section 139AA is mandatory; unlinked PANs became inoperative from 1 July 2023 and cannot be used for tax purposes.
Full guide: https://taxpex.com/services/itr-filing/topic/pan-aadhaar-linking

## Free calculators

- SIP Calculator (https://taxpex.com/tools/investment/sip-calculator): Project mutual-fund SIP maturity with real-year growth. Formula: FV = P × [((1 + i)ⁿ − 1) / i] × (1 + i)
- EMI Calculator (https://taxpex.com/tools/loans-emi/emi-calculator): Universal EMI + full year-wise amortization schedule. Formula: EMI = P × r × (1 + r)ᴺ / ((1 + r)ᴺ − 1)
- Personal Loan Calculator (https://taxpex.com/tools/loans-emi/personal-loan-calculator): Personal-loan EMI, interest & total payout. Formula: EMI = P × r × (1 + r)ᴺ / ((1 + r)ᴺ − 1)
- Home Loan Calculator (https://taxpex.com/tools/loans-emi/home-loan-calculator): Home-loan EMI with 25-year amortization. Formula: EMI = P × r × (1 + r)ᴺ / ((1 + r)ᴺ − 1)
- Car Loan Calculator (https://taxpex.com/tools/loans-emi/car-loan-calculator): Auto-loan EMI & interest for any tenure. Formula: EMI = P × r × (1 + r)ᴺ / ((1 + r)ᴺ − 1)
- Education Loan Calculator (https://taxpex.com/tools/loans-emi/education-loan-calculator): Education-loan EMI with moratorium modelling. Formula: EMI = P × r × (1 + r)ᴺ / ((1 + r)ᴺ − 1)
- Gold Loan Calculator (https://taxpex.com/tools/loans-emi/gold-loan-calculator): Gold-loan EMI, interest & final payout. Formula: EMI = P × r × (1 + r)ᴺ / ((1 + r)ᴺ − 1)
- FD Calculator (https://taxpex.com/tools/investment/fd-calculator): Fixed-deposit maturity with quarterly compounding. Formula: M = P × (1 + r/n)^(n·t) where n = 4 for quarterly compounding
- RD Calculator (https://taxpex.com/tools/investment/rd-calculator): Recurring-deposit maturity with quarterly compounding. Formula: M = Σ P × (1 + i)^(t/3) compounded quarterly
- PPF Calculator (https://taxpex.com/tools/investment/ppf-calculator): 15-year PPF corpus with the latest rate. Formula: FV = A × [((1 + r)ⁿ − 1) / r] × (1 + r)
- EPF Calculator (https://taxpex.com/tools/salary-payroll/epf-calculator): Retirement corpus from your EPF contributions. Formula: Corpus = Σ [(Contribₜ + Balance) × (1 + r)] with annual hike on Basic+DA
- NPS Calculator (https://taxpex.com/tools/investment/nps-calculator): NPS corpus, annuity & pension projection. Formula: Corpus = SIP FV; Pension = (Corpus × Annuity%) × Annuity rate / 12
- Gratuity Calculator (https://taxpex.com/tools/salary-payroll/gratuity-calculator): Gratuity payable under the Payment of Gratuity Act. Formula: Gratuity = (15 × Last Salary × Years of Service) / 26 (capped at ₹20 lakh)
- CAGR Calculator (https://taxpex.com/tools/investment/cagr-calculator): Compound Annual Growth Rate for any investment. Formula: CAGR = (Vₙ / V₀)^(1/n) − 1
- GST Calculator (https://taxpex.com/tools/gst/gst-calculator): Add GST to a base amount with CGST/SGST/IGST split. Formula: GST = Base × Rate / 100; Total = Base + GST
- Reverse GST Calculator (https://taxpex.com/tools/gst/reverse-gst-calculator): Extract GST from a GST-inclusive amount. Formula: GST = Base × Rate / 100; Total = Base + GST
- Income Tax Calculator FY 2025-26 (https://taxpex.com/tools/income-tax/income-tax-calculator): Old vs New regime — side-by-side liability & rebate. Formula: New Regime slabs (0/5/10/15/20/25/30%) + 4% cess − 87A rebate up to ₹60k
- HRA Calculator (https://taxpex.com/tools/salary-payroll/hra-calculator): House Rent Allowance exemption under Section 10(13A). Formula: HRA Exempt = min(Actual HRA, 50%/40% of Basic+DA, Rent − 10% of Basic+DA)
- In-Hand Salary Calculator (https://taxpex.com/tools/salary-payroll/in-hand-salary-calculator): CTC to monthly take-home with PF, gratuity and tax. Formula: Take-home = CTC − Employer PF − Gratuity − Employee PF − PT − Income Tax
- Life Insurance Calculator (https://taxpex.com/tools/investment/life-insurance-calculator): Right term-cover using Human Life Value method. Formula: Cover = Σ (Income × (1+g)^(t-1) / (1+d)^t) + Liabilities − Existing Cover

## Income-tax glossary

- Assessment Year: The year immediately following the Financial Year in which income is assessed for tax — e.g., FY 2024-25 income is assessed in AY 2025-26.
- Financial Year: The 12-month period from 1 April to 31 March in which income is earned.
- Previous Year: Section 3 definition — same as Financial Year for tax purposes; the year in which income is earned.
- PAN: Permanent Account Number — 10-character alphanumeric ID issued by CBDT under Section 139A.
- TAN: Tax Deduction Account Number — 10-character ID required for deductors under Section 203A.
- Form 16: Certificate of TDS on salary issued by employer under Rule 31; Part A from TRACES, Part B computed by employer.
- Form 16A: Certificate of TDS on non-salary income (rent, professional, interest) issued quarterly.
- Form 26AS: Consolidated annual tax credit statement showing all TDS/TCS/advance tax/SAT credited to PAN.
- AIS: Annual Information Statement — comprehensive digital statement of 45+ transaction categories.
- TIS: Taxpayer Information Summary — head-wise aggregate derived from AIS.
- TDS: Tax Deducted at Source — tax withheld by payer under Chapter XVII-B and deposited with government.
- TCS: Tax Collected at Source under Section 206C — collected by seller on specified goods (scrap, forest produce, etc.).
- Advance Tax: Tax paid in four instalments during the FY when income is earned, per Section 208.
- Self Assessment Tax: Balance tax paid via Challan 280 before ITR filing under Section 140A.
- Section 234A: Interest on late filing — 1% per month on unpaid tax from due date till filing.
- Section 234B: Interest on unpaid advance tax — 1% per month from 1 April of AY.
- Section 234C: Interest on advance tax instalment shortfall — 1% × 3 months per instalment.
- Section 234F: Late-filing fee — ₹5,000 (₹1,000 if income < ₹5L).
- ITR-1: Sahaj — for resident individuals with income up to ₹50L from salary, one house, interest.
- ITR-2: For individuals/HUFs with capital gains, foreign income, more than one house.
- ITR-3: For individuals/HUFs with business or profession income including F&O.
- ITR-4: Sugam — presumptive scheme 44AD/44ADA/44AE up to threshold.
- ITR-5: For partnership firms, LLPs, AOPs, BOIs.
- ITR-6: For companies (except Section 8) — filed electronically with DSC.
- ITR-7: For trusts, NGOs, political parties, Section 8 companies.
- ITR-U: Updated return under Section 139(8A) — 24-month window with 25%/50% additional tax.
- Section 44AD: Presumptive scheme — 6% (digital) / 8% deemed profit for business up to ₹3 Cr turnover.
- Section 44ADA: Presumptive scheme for professionals — 50% deemed profit up to ₹75L receipts.
- Section 44AE: Presumptive for goods carriage owners — ₹7,500/tonne/month per vehicle (≤10 vehicles).
- Section 44AB: Tax audit by CA when business turnover > ₹1 Cr (₹10 Cr digital) or profession > ₹75L.
- Section 44AA: Books of accounts requirement thresholds for business/profession.
- Section 80C: Deduction up to ₹1.5L for PPF, EPF, ELSS, LIC, home-loan principal etc. — old regime only.
- Section 80D: Health insurance premium deduction — ₹25k/₹50k self, ₹25k/₹50k parents.
- Section 80CCD(1B): Additional NPS deduction of ₹50k over and above 80C — old regime only.
- Section 80CCD(2): Employer NPS contribution deduction up to 10% (14% central govt) — both regimes.
- Section 80G: Deduction for donations to charitable institutions — 50%/100% with/without cap.
- Section 80TTA: ₹10k deduction on savings interest for non-seniors — old regime.
- Section 80TTB: ₹50k deduction on FD + savings interest for senior citizens — old regime.
- Section 80E: Deduction for education loan interest — 8 years, no cap on amount.
- Section 80EE: First-time home buyer additional ₹50k interest deduction (loans sanctioned FY 16-17).
- Section 80EEA: Affordable housing additional ₹1.5L interest deduction (loans sanctioned FY 19-22).
- Section 24(b): Home-loan interest deduction — ₹2L (self-occupied), unlimited (let-out).
- Section 10(13A): House Rent Allowance exemption — min of three formulas.
- Section 10(5): LTA exemption — twice in a block of four years within India.
- HRA: House Rent Allowance — exemption under Section 10(13A).
- LTA: Leave Travel Allowance — exemption under Section 10(5).
- New Tax Regime: Section 115BAC — lower slab rates without most exemptions; default from AY 2024-25.
- Old Tax Regime: Traditional tax regime with all Chapter VI-A deductions and exemptions.
- Section 87A: Rebate of ₹12,500 (old) / ₹25,000 (new AY 24-25) if total income ≤ ₹7L (new).
- Basic Exemption: Income threshold below which no tax — ₹2.5L (old), ₹3L (new AY 24-25 — up to age 60).
- Surcharge: Additional tax on tax — 10% at >₹50L, 15% at >₹1Cr, 25% at >₹2Cr, 37% at >₹5Cr (old); capped 25% in new regime.
- Cess: Health & Education cess at 4% on tax + surcharge.
- MAT: Minimum Alternate Tax under Section 115JB — 15% of book profit for companies.
- AMT: Alternate Minimum Tax under Section 115JC — 18.5% for LLPs and other non-corporates.
- Section 115BAA: 22% flat corporate tax without exemptions — one-time irrevocable option.
- Section 115BAB: 15% flat for new manufacturing companies incorporated after 1 Oct 2019.
- Section 80-IAC: 3-year tax holiday for DPIIT-recognised startups within first 10 years.
- Section 80JJAA: Deduction of 30% × new employee salary for 3 years.
- STCG: Short-Term Capital Gains — asset held below prescribed period.
- LTCG: Long-Term Capital Gains — asset held beyond prescribed period.
- Section 111A: STCG on listed equity taxed at 15%.
- Section 112A: LTCG on listed equity > ₹1L taxed at 10% (no indexation).
- Section 112: LTCG on other assets — 20% with indexation.
- Indexation: Adjustment of cost of acquisition using Cost Inflation Index (CII) for LTCG on long-term assets.
- CII: Cost Inflation Index — notified annually by CBDT; used for indexation.
- Section 54: LTCG exemption on residential property reinvested in another residential property.
- Section 54F: LTCG on any long-term asset exempt if reinvested in residential property.
- Section 54EC: LTCG on land/building reinvested in NHAI/REC bonds — up to ₹50L/FY.
- Grandfathering: FMV as on 31 January 2018 substituted as cost for pre-2018 listed equity.
- Section 194: 10% TDS on dividend above ₹5,000/FY.
- Section 194A: 10% TDS on interest other than securities (bank interest, unsecured loans).
- Section 194C: 1%/2% TDS on contractor payments.
- Section 194H: 5% TDS on commission and brokerage.
- Section 194I: 10% TDS on rent (building/land) above ₹2.4L/year.
- Section 194IB: 5% TDS on rent by individual/HUF above ₹50k/month.
- Section 194J: 10% TDS on professional/technical fees above ₹30k/year.
- Section 194Q: 0.1% TDS on purchase of goods above ₹50L/year.
- Section 194O: 1% TDS by e-commerce operator on gross sale to seller.
- Section 194R: 10% TDS on benefits or perquisites arising from business/profession above ₹20k.
- Section 194S: 1% TDS on VDA (crypto) transactions.
- Section 195: TDS on payments to non-residents at DTAA or applicable Act rate.
- Section 197: Nil / lower TDS certificate application via TRACES.
- Form 15G: Declaration by non-senior for no TDS if income below basic exemption.
- Form 15H: Same as 15G but for senior citizens (60+).
- Form 26QB: Challan-cum-statement for 1% TDS on property purchase > ₹50L.
- Form 26QC: Challan-cum-statement for 5% TDS on rent > ₹50k/month (Section 194IB).
- Form 3CB-3CD: Tax audit report format for non-corporate taxpayers.
- Form 3CA-3CD: Tax audit report format for corporate taxpayers.
- Form 3CEB: Report on international / specified domestic transactions (transfer pricing).
- Form 10-IC: Option exercise form for 22% corporate rate under 115BAA.
- Form 10-ID: Option exercise form for 15% new manufacturing rate under 115BAB.
- Form 10E: Relief computation under Section 89 for arrears / advance salary.
- Form 10BE: Certificate of donation for 80G issued by donee to donor.
- Form 10BD: Statement of donations filed by donee with CBDT.
- Form 67: Statement of foreign tax paid — filed before ITR to claim FTC.
- DTAA: Double Taxation Avoidance Agreement — treaty between India and other countries.
- TRC: Tax Residency Certificate — required for DTAA relief.
- Schedule FA: Foreign Assets schedule in ITR-2/3 — mandatory for RORs.
- Schedule AL: Assets & Liabilities schedule required if total income > ₹50L.
- FTC: Foreign Tax Credit — relief from double taxation.
- Section 5: Scope of total income based on residential status.
- ROR: Resident and Ordinarily Resident — taxed on worldwide income.
- RNOR: Resident but Not Ordinarily Resident — taxed only on India source and specified foreign income.
- NRI: Non-Resident Indian — < 182 days in India (with exceptions).
- Section 6: Residential status determination based on days in India.
- Deemed Resident: PIO/OCI with Indian income > ₹15L and not liable in other country — Section 6(1A).
- Section 89: Relief on salary arrears / advance / gratuity — Form 10E.
- Section 10(10): Gratuity exemption — up to ₹20L for private employees.
- Section 10(10AA): Leave encashment exemption — ₹25L for non-govt employees.
- Perquisite: Non-cash benefit from employer — valued under Rule 3.
- ESOP: Employee Stock Option Plan — taxed as perquisite at exercise, capital gain at sale.
- RSU: Restricted Stock Units — taxed as salary at vest and capital gain at sale.
- ESPP: Employee Stock Purchase Plan — discount taxed as perquisite; sale as capital gain.
- Standard Deduction: Flat deduction from salary — ₹50k (old) / ₹75k (new AY 25-26).
- Section 16(ia): Section for standard deduction from salary income.
- Chapter VI-A: Chapter containing all deductions (80C to 80U).
- Chapter XVII-B: Chapter for Tax Deducted at Source (TDS).
- Chapter XII: Chapter for special tax rates (LTCG, STCG, MAT, AMT).
- Section 234: Interest on delays in filing / advance tax / instalments.
- Section 270A: Under-reporting penalty — 50% (misreporting 200%).
- Section 271A: Penalty for failing to maintain books of accounts under 44AA.
- Section 271B: Penalty for skipping tax audit — 0.5% of turnover, max ₹1.5L.
- Section 271F: Late filing penalty (replaced by 234F for individuals).
- Section 271H: Penalty for late TDS return filing — ₹10k to ₹1L.
- Section 276CC: Prosecution for wilful failure to file ITR — 3 months to 2 years.
- Section 132: Search and seizure authority.
- Section 133A: Survey provisions for the department.
- Section 143(1): Intimation after processing — usually within 9 months of filing.
- Section 143(1)(a): Intimation for arithmetic error / AIS mismatch / disallowed claim.
- Section 143(2): Notice for scrutiny assessment — issued within 3 months of AY end.
- Section 143(3): Scrutiny assessment order.
- Section 144: Best judgement assessment when taxpayer fails to comply.
- Section 148: Notice for reassessment / income escaping assessment.
- Section 156: Notice of demand under intimation / assessment.
- Section 154: Rectification of mistake apparent from record.
- Section 245: Refund adjustment against outstanding demand.
- Section 244A: Interest on delayed refund — 0.5% per month.
- Section 139(1): Original ITR filing due date provision.
- Section 139(4): Belated return provision.
- Section 139(5): Revised return provision.
- Section 139(8A): Updated return (ITR-U) provision.
- Section 139(9): Defective return notice provision.
- Section 139AA: PAN-Aadhaar linking mandate.
- Section 40(b): Partner remuneration / interest deduction limits for firms.
- Section 40A(3): Cash payment above ₹10k/day disallowance.
- Section 43B: Certain expenses deductible only on actual payment.
- Section 43B(h): MSME payment within 45 days rule — else disallowance.
- Section 43(5): Speculative business — F&O treated as non-speculative business.
- Depreciation: Wear-and-tear deduction under Section 32; rates per Appendix I.
- Block of Assets: Group of assets with same rate of depreciation.
- WDV: Written Down Value — depreciated value of block of assets.
- Section 32(1)(iia): Additional 20% depreciation for new plant & machinery.
- Section 35: R&D expenditure — 100% deduction (150% earlier).
- Section 35(2AB): Weighted deduction for in-house R&D (approved by DSIR).
- Section 35AD: Investment-linked deduction for specified businesses.
- Section 36(1)(iva): Employer's contribution to superannuation fund.
- Section 37: General business expenditure deduction — wholly and exclusively for business.
- Section 41(1): Cessation of trading liability — taxable in year of cessation.
- Section 45: Charging section for capital gains.
- Section 47: Transactions not regarded as transfer — gifts, HUF partition, amalgamation.
- Section 49: Cost of acquisition in specific cases — gift, inheritance, partition.
- Section 50: Depreciable assets — always short-term capital gain.
- Section 50AA: Debt MF from 1 Apr 2023 — always taxable at slab.
- Section 55(2): Cost of acquisition — FMV as on 1 April 2001 for pre-2001 assets.
- Section 56(2)(x): Gifts above ₹50k from non-relatives taxable as OS.
- Section 56(2)(viib): Angel tax — share premium above FMV in unlisted company.
- Section 57: Deductions from Income from Other Sources.
- Section 60: Transfer of income without transfer of asset — clubbed.
- Section 64: Clubbing of income — spouse, minor child.
- Section 70: Set-off of loss within same head.
- Section 71: Set-off of loss across heads (except capital gains).
- Section 72: Carry-forward of business loss — 8 years.
- Section 73: Speculative loss — 4 years, only against speculative.
- Section 73A: Specified business loss — indefinite carry-forward.
- Section 74: Capital loss carry-forward — 8 years.
- Section 74A: Race horse loss carry-forward — 4 years.
- Section 79: Change of shareholding — loss carry-forward restriction (closely-held companies).
- Section 80AC: Deductions available only if ITR filed within due date.
- Section 87: Marginal relief on rebate under 87A.
- Section 90: DTAA relief — bilateral agreement.
- Section 91: Unilateral relief — credit method for non-treaty countries.
- Section 92: Transfer pricing — arm's-length principle.
- Section 94B: Thin capitalisation — interest deduction cap for multinationals.
- Section 115BB: Lottery / gaming winnings — 30% flat, no deduction.
- Section 115BBH: VDA (crypto) income — 30% flat, no deduction.
- VDA: Virtual Digital Asset — crypto / NFT under Section 2(47A).
- Section 115H: Continued NRI benefits for the year of return.
- Section 115JC: Alternate Minimum Tax for LLPs and other non-corporates.
- Section 115JB: Minimum Alternate Tax for companies.
- Book Profit: Adjusted profit computed for MAT / AMT calculation.
- Section 115VA: Tonnage tax scheme for shipping companies.
- Section 111: Return of income tax — accumulated profits distribution.
- HUF: Hindu Undivided Family — separate assessee under Income Tax Act.
- Partition: Splitting of HUF property — taxable event under Section 47.
- Coparcener: Member of HUF with birthright — includes daughters post 2005 amendment.
- Karta: Head of HUF — files return on behalf of family.
- Firm: Partnership under Indian Partnership Act 1932 — files ITR-5.
- LLP: Limited Liability Partnership under LLP Act 2008 — files ITR-5.
- Partner's Capital: Capital contribution by partner — interest up to 12% deductible under 40(b).
- Book Profit for 40(b): Adjusted profit for partner remuneration limits calculation.
- Deemed Dividend: Section 2(22)(e) — advance / loan to shareholder treated as dividend.
- Bonus Shares: Free shares issued from reserves — cost is nil, holding period from parent.
- Section 55(2)(aa): Cost of bonus shares — nil.
- Section 55(2)(ab): Cost of split shares — proportionate.
- Section 2(29A): Long-term capital asset definition.
- Section 2(42A): Short-term capital asset definition.
- Section 2(47): Transfer — includes sale, exchange, relinquishment, extinguishment.
- Section 45(4): Distribution of assets on firm dissolution — deemed transfer.
- Section 45(5A): Joint development agreement — capital gain in year of completion certificate.
- Cost of Improvement: Capital expenditure post-acquisition — added to cost while computing gain.
- Angel Investor: Investor in early-stage startups — 56(2)(viib) angel tax applies to premium.
- Startup: Entity meeting DPIIT criteria — eligible for 80-IAC tax holiday.
- DPIIT: Department for Promotion of Industry and Internal Trade — startup recognition.
- Section 80EEB: Deduction up to ₹1.5L for electric vehicle loan interest.
- Speakable Schema: Structured data telling voice assistants which paragraphs to read.
- Section 194P: Exemption from filing ITR for super-seniors (75+) with pension + interest from same bank.
- Section 194N: 2% TDS on cash withdrawal above ₹1 Cr (₹20L for non-filers).
- Section 194M: 5% TDS on personal payments to professionals/contractors above ₹50L.
- Section 194K: 10% TDS on mutual fund income above ₹5,000.
- Section 206AA: Higher TDS at 20% for missing PAN / inoperative PAN.
- Section 206AB: Higher TDS for non-filers of ITR.
- Section 206C(1H): 0.1% TCS on sale of goods above ₹50L (superseded by 194Q for buyer).
- Section 206C(1G): 5% TCS on foreign remittance under LRS above ₹7L.
- LRS: Liberalised Remittance Scheme — RBI framework for individual foreign remittance.
- Composite Scheme: GST composition scheme — 1%/5%/6% flat tax on turnover.
- Section 44BB: Presumptive scheme for foreign shipping / air companies.
- Presumptive Scheme: Deemed profit computation without maintaining books.
- Slab Rates: Tax rates applied progressively based on income brackets.
- Basic Salary: Fixed component of salary — used in PF/HRA/gratuity calculation.
- DA: Dearness Allowance — inflation-linked salary component.
- PF: Provident Fund — 12% employee + 12% employer contribution.
- EPS: Employees' Pension Scheme — 8.33% of employer PF.
- Gratuity: Retirement benefit under Payment of Gratuity Act — 15 days salary × years.
- VPF: Voluntary Provident Fund — additional employee PF contribution.
- PPF: Public Provident Fund — 15-year EEE scheme, 80C eligible.
- NSC: National Savings Certificate — 5-year, interest reinvested qualifies under 80C.
- ELSS: Equity Linked Savings Scheme — 3-year lock-in equity MF, 80C eligible.
- NPS: National Pension System — 80CCD(1)/(1B)/(2) eligible.
- SCSS: Senior Citizens Savings Scheme — 80C eligible, interest taxable.
- Sukanya Samriddhi: Girl-child savings scheme — 80C, EEE status.
- KVP: Kisan Vikas Patra — post office savings scheme.
- APY: Atal Pension Yojana — pension scheme, 80CCD(1) eligible.

## Coverage

GST registration city pages: Delhi, Noida, Gurgaon, Faridabad, Ghaziabad, Jaipur, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata, Ahmedabad, Surat, Lucknow, Chandigarh, Indore, Bhopal, Kochi, Dehradun.
GST return filing city pages: Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Ahmedabad, Surat, Pune, Jaipur, Lucknow, Noida, Gurgaon, Faridabad, Ghaziabad, Chandigarh, Indore, Bhopal, Kochi, Dehradun.
ITR filing city pages: Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Pune, Ahmedabad, Jaipur, Lucknow, Noida, Gurugram, Faridabad, Ghaziabad, Indore, Bhopal, Chandigarh, Surat, Kolkata, Patna, Nagpur.

Citation: Taxpex Consultancy, https://taxpex.com