Tax Advisory — Income Tax, Corporate Tax & Cross-Border Tax Planning

It depends on how much you claim in deductions. The new regime is the default, with a ₹4 lakh basic exemption and effectively tax-free income up to ₹12.75 lakh after the standard deduction and rebate, but very few deductions beyond that. The old regime keeps a lower ₹2.5 lakh exemption but allows deductions like 80C, 80D, HRA, and home loan interest — if those add up to a large enough amount, the old regime can still work out cheaper.

Section 115BAA lets a domestic company pay tax at a flat 22% — an effective rate of about 25.17% after surcharge and cess — instead of the standard 30%, but the election is irrevocable and means giving up most exemptions, incentives, and any brought-forward MAT credit. It tends to suit companies that aren't relying heavily on tax holidays or accelerated depreciation — we model both scenarios against your actual numbers before recommending either.

Long-term capital gains on listed equity and equity mutual funds, held over a year, are taxed at 12.5% above a ₹1.25 lakh exemption each financial year. Short-term gains, on holdings under a year, are taxed at 20% — different rules and rates apply to debt funds, property, and other asset classes, so the holding period and asset type both matter.

If your total tax liability for the year exceeds ₹10,000, you're expected to pay it in instalments — 15% by 15 June, 45% cumulative by 15 September, 75% by 15 December, and 100% by 15 March — and missing these attracts interest under Sections 234B and 234C, calculated for every month of delay. We compute your instalments each quarter so you're not caught off guard by a lump-sum liability at filing time.

A Double Taxation Avoidance Agreement between India and your country of residence prevents the same income — like rental income, interest, or capital gains from Indian assets — from being taxed fully in both countries, usually through a tax credit or exemption method. Which DTAA provisions apply, and how much relief you actually get, depends on the specific treaty and your residential status, which we review before you file.

Read it carefully for the specific section it's issued under and the response deadline, since different notices — a simple mismatch query versus a full scrutiny assessment — need very different responses. Don't ignore it or respond without understanding what's actually being asked; we review the notice, prepare the response with supporting documentation, and represent you where needed.

Salaried individuals and those without business income can choose either regime freely each year when filing their return. If you have business or professional income, switching back to the old regime after choosing the new one is restricted — you generally get one opportunity to switch back, so the choice needs more care if you fall into that category.

No — the Income Tax Act, 2025, which takes effect from 1 April 2026, is a structural rewrite intended to simplify and modernise the law's language and layout, not a change to tax rates, slabs, or exemption limits, which remain as set out in the relevant Finance Act. Section numbers and some terminology are changing, which mostly matters for how filings and forms reference the law, not what you owe.