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Accurate income computation and tax deduction optimization are crucial for reducing tax liability and ensuring compliance with Indian income tax laws. Whether you are a salaried employee, freelancer, or professional, our expert tax consultants help maximize your deductions while ensuring compliance with the latest changes in the Union Budget 2025-26.
| Income Category | Components Included |
|---|---|
| Salary Income | Basic salary, HRA, DA, LTA, bonuses, allowances |
| Income from House Property | Rental income, standard deduction (30%), municipal taxes |
| Business & Professional Income | Net profit after allowable deductions (expenses, depreciation, etc.) |
| Capital Gains | Gains from stocks, real estate, mutual funds (short-term & long-term classification) |
| Other Sources | Interest income, dividends, lottery winnings, gifts above ₹50,000 |
| Gross Total Income | Sum of all taxable income categories |
| Less: Deductions (80C - 80U) | Eligible deductions under various sections |
| Total Taxable Income | Income after deductions, subject to tax slabs |
| Category | Deduction Limit (₹) | Changes (Budget 2025-26) |
|---|---|---|
| Salaried/Pensioners | ₹60,000 | Increased from ₹50,000 |
| Family Pensioners | ₹20,000 | No change |
| Investment/Expense | Max Deduction (₹1.5 lakh) |
|---|---|
| Employee Provident Fund (EPF) | Yes |
| Public Provident Fund (PPF) | Yes |
| National Pension System (NPS) | Yes (Additional ₹50,000 under 80CCD(1B)) |
| Life Insurance Premiums | Yes |
| Home Loan Principal Repayment | Yes |
| Equity-Linked Savings Scheme (ELSS) | Yes |
| Tuition Fees (for 2 children) | Yes |
| Taxpayer Category | Self & Family | Parents (Senior Citizens) |
|---|---|---|
| Individual < 60 years | ₹25,000 | ₹50,000 |
| Individual > 60 years | ₹50,000 | ₹50,000 |
| Donation Type | Deduction Allowed |
|---|---|
| PM National Relief Fund | 100% Deduction |
| Registered NGOs, Government Funds | 50%-100% Deduction |
| Cash Donations > ₹2,000 Not Allowed | Must be via digital/cheque |
| Criteria | Deduction Formula |
|---|---|
| Rent Paid - 10% of Basic Salary | Eligible Amount |
| 50% of Salary (Metro Cities) | Eligible Amount |
| 40% of Salary (Non-Metro Cities) | Eligible Amount |
| Lowest of the above three | Final Deduction |
| Criteria | Conditions |
|---|---|
| Travel within India | Allowed |
| Airfare (Economy), Rail Fare (AC) | Allowed |
| Can be claimed twice in 4 years | Allowed |
| Family must travel together | Required |
| Section | Deduction | Eligibility |
|---|---|---|
| 80GG | ₹60,000/year | Rent paid without HRA |
| 80TTA | ₹10,000 | Interest on savings accounts |
| 80TTB | ₹50,000 | Senior citizen FD interest |
| 80U | ₹1.25 lakh | Disability benefit |
| Tax Change | Latest Update |
|---|---|
| New Regime Exemption Limit | Increased from ₹7 lakh → ₹8.5 lakh |
| Standard Deduction for Salaried | ₹60,000 (previously ₹50,000) |
| TDS Threshold for Freelancers | Increased from ₹30,000 → ₹75,000 |
| Education Loan Interest Deduction | Now applicable for vocational courses |
| Feature | Our Expertise |
|---|---|
| Personalized Tax Planning | Optimize your deductions to reduce tax liability |
| Accurate Computation | Error-free income calculation and return filing |
| Budget-Updated Filing | Compliance with latest Union Budget 2025-26 |
| Speed & Convenience | Hassle-free online tax filing with CA support |
| Audit & Compliance Help | Assistance in case of IT notices or scrutiny |
Expert ITR filing for salaried individuals, freelancers, and professionals!
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