Blog & Articles

New Tax Regime Changes

• Income up to ₹12 lakh — No tax under new regime
• Revised tax slabs with lower rates for middle-income groups
• Standard deduction increased to ₹75,000 for salaried individuals
• Section 87A rebate enhanced

GST Simplification

• Simplified return filing for small businesses
• Reduced compliance burden for businesses with turnover up to ₹5 Cr

For Businesses

• Corporate tax rationalization for MSMEs
• Enhanced depreciation for green energy investments
• Digital payment incentives extended

💡 CA Sanjay's Advice: If your income is below ₹12 lakh, the new tax regime is clearly beneficial. For higher incomes, compare both regimes with your CA before choosing.

Top Tax-Saving Strategies

1. Section 80C (₹1.5 Lakh): PPF, ELSS, Life Insurance, NSC, Tuition Fees, Home Loan Principal
2. Section 80D (₹25,000-₹1 Lakh): Health Insurance for self, family & parents
3. Section 80CCD(1B) (₹50,000): Additional NPS contribution
4. Section 24(b) (₹2 Lakh): Home Loan Interest deduction
5. HRA Exemption: Claim rent paid if not owning a house
6. Section 80E: Education Loan Interest — no upper limit!
7. Section 80G: Donations to specified funds/charities
8. Section 80TTA/80TTB: Savings account interest (₹10K/₹50K for seniors)
9. Capital Gains Planning: Harvest long-term losses to offset gains
10. Regime Comparison: Run calculations under both old & new regime

💡 CA Sanjay's Advice: Don't wait until March 31! Start planning now. Use our Tax Calculator to estimate your savings.

Common GST Mistakes

• Wrong GSTIN: Always verify supplier GSTIN before claiming ITC
• Mismatch in GSTR-2B & 3B: Reconcile ITC monthly, not quarterly
• Late Filing: Late fees of ₹50/day (₹20 for NIL) — file on time!
• Wrong HSN/SAC codes: Use correct codes to avoid notices
• Not reversing ineligible ITC: Blocked credits under Section 17(5)
• Ignoring RCM: Reverse charge mechanism on specified services

Due Dates to Remember

Return	Due Date	Who
GSTR-1	11th of next month	All registered dealers
GSTR-3B	20th of next month	All registered dealers
GSTR-9	31st December	Annual return
GSTR-9C	31st December	Turnover > ₹5 Cr

💡 CA Sanjay's Advice: Set calendar reminders for every GST deadline. One missed filing can trigger a cascade of penalties and interest.

Comparison Table

Feature	SIP (Mutual Fund)	FD	PPF
Returns (avg)	12-15% p.a.	7-7.5% p.a.	7.1% p.a.
Risk	Market-linked	Very Low	Zero (Govt)
Lock-in	None (ELSS: 3yr)	Flexible	15 years
Tax on Returns	LTCG > ₹1.25L: 12.5%	As per slab	Tax-free
Section 80C	ELSS only	5-yr FD only	Yes (₹1.5L)
Best For	Long-term wealth	Short-term safety	Risk-free savings

Our Recommendation

A balanced approach works best: allocate 40% to SIP (equity), 30% to PPF (safety), and 30% to FD (liquidity). Adjust based on your age and risk appetite.

💡 CA Sanjay's Advice: Start a SIP today — even ₹500/month can grow to ₹5+ lakhs in 15 years. Try our Daily SIP Mantra calculator!

Key TDS Obligations

• Deduct TDS on salary, rent, professional fees, contract payments, interest
• Deposit TDS by 7th of next month (March: 30th April)
• File TDS Returns: Form 24Q (Salary), 26Q (Non-salary), 27Q (NRI), 27EQ (TCS)
• Issue Form 16/16A to deductees within prescribed time
• Verify Form 26AS to ensure deposits reflect correctly

Quarterly TDS Due Dates

Quarter	Period	Return Due Date
Q1	Apr - Jun	31st July
Q2	Jul - Sep	31st October
Q3	Oct - Dec	31st January
Q4	Jan - Mar	31st May

Penalties for Non-Compliance

• Late deduction: Interest @ 1% per month
• Late deposit: Interest @ 1.5% per month
• Late filing: ₹200/day (max = TDS amount)
• Non-filing: Prosecution up to 7 years

💡 CA Sanjay's Advice: Automate TDS deduction and deposit. Set up standing instructions with your bank to avoid delays.

New Tax Regime Slabs (FY 2025-26)

Income Slab	Tax Rate
Up to ₹4,00,000	Nil
₹4,00,001 - ₹8,00,000	5%
₹8,00,001 - ₹12,00,000	10%
₹12,00,001 - ₹16,00,000	15%
₹16,00,001 - ₹20,00,000	20%
₹20,00,001 - ₹24,00,000	25%
Above ₹24,00,000	30%

When Old Regime is Better

• You have Home Loan interest > ₹2 Lakh (Section 24b)
• You claim HRA exemption + 80C + 80D + NPS
• Total deductions exceed ₹3.75 Lakh+
• You have professional income with significant expenses

When New Regime is Better

• Income below ₹12 Lakh — zero tax with rebate
• You don't have many deductions or investments
• Salaried person with standard deduction of ₹75,000

💡 CA Sanjay's Advice: Don't assume — calculate! Use our Tax Calculator to compare both regimes with your actual numbers.