Pillar
Taxes
Tax planning is not about last-minute scrambling in March — it is about understanding the system well enough to make better decisions all year. This hub covers Indian income tax in plain language, current for Assessment Year 2026-27: choosing between the old and new regimes, claiming the right deductions, filing your ITR correctly, and keeping the documentation that protects you. It is for salaried employees, freelancers, and small-business owners who want to pay exactly what they owe — no more, no less — without buying poor products just for a deduction. By the end you should be able to compare the two regimes on your own numbers, use 80C and HRA correctly when they apply, separate genuine planning from last-minute tax saving, and file with records that hold up if anyone ever asks. Rules and section numbers are being renumbered under the Income-tax Act, 2025 (effective 1 April 2026) — guides here are updated to reflect both the current and new references where relevant.
What this pillar teaches
- Old vs new tax regime — which costs you less
- Section 80C, 80D and the main deductions
- Reading Form 16, Form 26AS and the AIS
- Filing your ITR and avoiding common mistakes
- Capital gains tax on shares, funds and property
- TDS, advance tax, and staying compliant
Start here — beginner path
How to work through Taxes
- Compare the regimes on your numbers — Work out your tax under the old and new regimes for tax year 2026-27 before you tell your employer which one to use. Income tax calculator →
- Gather the documents — Form 16, the AIS and Form 26AS, interest certificates and investment proofs. A mismatch between them is a common reason for a tax notice. Tax document checklist →
- File before the due date — A belated return costs interest and a late fee, and without business income it also rules out the old regime. ITR filing guide →
- Keep up during the year — Pay advance tax on its due dates and note TDS on interest and capital gains as they happen, instead of discovering them in March. Advance tax guide →
Calculators for taxes
All Taxes guides
Form 16 vs AIS vs Form 26AS: Match Them Like Books Against the Bank
Our rice mill matches its books against the bank as routine. The same habit for Form 16, AIS and Form 26AS: read each, match them, fix gaps before you file.
Advance Tax: Who Pays, When, and Why I See It as Cash Planning
At our rice mill cash moves with the season, so I see advance tax as a cash problem first. Who pays, the four due dates, 234B/234C interest, and how to pay.
Capital Gains Tax in India: What I'd Work Out Before Any Sale
I'm a director of a real-estate company, so I'd compute the tax before any sale, sometimes two ways. Rates by asset, Sections 54/54EC, loss harvesting.
Crypto Tax in India: The 30% Rule, 1% TDS and the Numbers I'd Run
I run the numbers before every money decision, and crypto tax punishes guesswork. The flat 30%, the 1% TDS, ignored losses and a worked FY 2026-27 example.
ELSS vs PPF for Tax Saving: The Regime First, Then the Lock-In
Before any tax-saving choice, I put the numbers in a calculator. How ELSS and PPF differ on lock-in, risk, return and tax, and when either saves tax at all.
Home Loan Tax Benefits: Why the Tax Saving Is the Last Number I Check
I'm a director of a real-estate company, and on a home loan the tax saving is the last number I'd check. 24(b), 80C, 80EEA and joint loans, worked out.
How to File ITR Online: Steps, 17 Mistakes and What I'd Check First
At our mill no figure goes out until it matches its source. Treat your return the same way: filing ITR online for AY 2026-27, 17 mistakes, and late filing.
HRA Exemption: How to Calculate It, Seen From the Employer's Side
Our business pays wages, so I see salary structure from the employer's side. The three-number HRA formula, the documents, 80GG and when HRA does not apply.
HUF Tax Explained: What I'd Weigh in a Family Business
Our rice mill began as my father's business, so family money is something I think about. How an HUF works, what it can hold, what it saves, and the traps.
Income Tax Deductions in India: 80C to 80G, Numbers First
My rule for money decisions is numbers first, and deductions are no exception. 80C in detail, NPS, 80D, 80G, loan interest and HRA for FY 2026-27.
Which ITR Form Should You File? Let the Year's Income Decide
I'm not a CA, but at our mill the facts behind every return stay with me. Which ITR form fits for AY 2026-27, from ITR-1 to ITR-4, and what moves you up.
NRI Taxation in India: How I'd Run the Numbers for an NRI
I'm not writing as an NRI. This is how I'd run the numbers if I were helping one: residential status, NRE vs NRO accounts, NRI TDS rates and DTAA relief.
Old vs New Tax Regime: Slabs, Breakeven and How I'd Decide
I built this site's income tax calculator and make no tax choice without running both regimes. The slabs, the ₹12 lakh kink, and when the old regime wins.
Presumptive Taxation (44AD & 44ADA): The Margin Test Before You Opt In
I know the crop-input trade first-hand, where sales go out on credit until harvest. How 44AD and 44ADA work, their limits, and the records you still need.
Salary Restructuring, Gratuity and Leave Encashment: An Employer's View
Our business pays wages, so I see restructuring from the employer's side. Exempt components, the regime split, how gratuity and leave encashment are taxed.
How Dividends Are Taxed in India, and Why I'd Reconcile Every Rupee
I don't trust a reported figure until it matches my own records. Dividends need that: slab-rate tax, 10% TDS above ₹10,000, no deductions from FY 2026-27.
How ESOPs Are Taxed in India, and the Cash Gap I'd Plan For
At our mill a season can show a paper profit and run short of cash. ESOPs do the same: tax at exercise, before any sale. Both stages, with a worked example.
Tax on FD and Savings Interest: TDS, Form 121 and the Post-Tax Rate
At our mill, interest runs on the daily balance, so I judge an FD by what it keeps after tax. Slab-rate tax, TDS, 80TTA/80TTB and Form 121, worked through.
Tax on Gifts in India: Exempt, Taxable and the Records I'd Keep
Running a family business, I think about how money moves inside a family. Which gifts are tax-free, when one becomes taxable, and the ₹50,000 trap.
Tax on Mutual Funds in India, and Why I'd Track Every Lot
I build spreadsheets, and mutual fund tax is a lot-by-lot sum. Equity, debt, gold and overseas funds, SIP lots, IDCW and harvesting for FY 2026-27.
Tax on Rental Income in India: A Tax Loss Is Not a Cash Loss
I'm a director of a real-estate company; I read a rent computation like a mill P&L: tax and cash apart. How rent is taxed and what you can deduct.
Tax Planning in India: 10 Rules and Why I'd Start in April
I take no money decision before the numbers are in front of me, tax included. Ten rules for year-round tax planning in India, from regime choice to key dates.
Form 16A and TDS Certificates: A Reconciliation Habit From the Mill
Matching books against the bank is routine at our rice mill. Form 16A needs the same check: what it shows, and how to match it with Form 26AS and AIS.
TDS on Property Purchase: Section 194-IA, Settled Before You Pay
I'm a director of a real-estate company, and the buyer's 1% TDS is a step I'd settle before any money moves. Who deducts, how much, and Form 26QB.
TDS on Salary, Explained by Someone Who Pays Wages
Our business pays wages, so I see salary TDS as what it is: the employer's projection of your year. How it's calculated, what to declare, and excess refunds.
Common mistakes in taxes
- Waiting until filing season, then making rushed, poor tax-saving decisions
- Mixing tax saving with bad investments — buying a product only for the deduction
- Ignoring documentation, then being unable to substantiate a claim later
- Not separating business and personal expenses, which makes everything harder to prove
- Choosing a regime out of habit instead of comparing old vs new on your actual numbers