Cross Reference Tables for Rules & Forms and Repeal Savings Provision

1.

Navigator Income Tax Rules, 2026

xxxiii

2.

Navigator Income Tax Forms

xlv

3.

Repeal and Savings Provision

lvi

Section A -- Amendments by the Finance Act, 2026

Income Tax Act, 1961

1

Section B -- Ready Referencer

A.

Tax Rates for Assessment Year 2026-27 and Tax year 2026-27

65

B.

Specified Tax Rates Under ITA, 1961 and Under ITA 2025

70

C.

TDS Rates [For Tax Year 2026-27]

77

D.

Rates for Tax Collection at source [For Tax Year 2026-27]

90

E.

Rates for Minimum Alternate Tax

92

F.

Tax Rates for Last Ten Assessment Years

92

G.

Market Rates of Gold and Silver from 31-3-2008 to 31-3-2026 and on 1-4-1981

98

H.

TDS Chart

99

I.

Rates of Depreciation as per Income-Tax Rules, 2026

109

J.

Fee Structure for Filing Appeals

114

K.

Tax Saving Schemes

114

L.

Accrued Interest on NSC (VIII Issue)

119

M.

Tax Calendar for Recurring Work

120

N.

Audit Reports Under Income Tax Act, 2025

128

O.

Withholding Tax Rates Under DTAA

129

Section C -- Basic Concepts

1.

Definition of Assessee, Assessment Year, Books of Accounts, Income, Interest, liable to Tax, Manufacture, Maximum Marginal Rate, Person, Tax and Previous Year

139

2.

Chargeability of Income, Scope of Total Income and Income deemed to be received

143

3.

Residential status [Section 6, corresponding to section 6 of ITA, 2025]

144

4.

Income deemed to accrue or arise in India [Section 9, corresponding to section 9 of the Income Tax Act, 2025]

155

5.

Income on Receipt of Capital Asset or Stock-In-Trade by Specified Person from Specified Entity [Section 9B corresponding to section 8 of Income Tax Act, 2025]

170

6.

Heads of Income [Section 14]

171

7.

New taxation regime [Section 115BAC, corresponding to section 202 of Income Tax Act, 2025]

171

Section D -- Exempt Incomes

8.

Generally Exempt Incomes [Section 10]

178

9.

Taxation of ULIPS and other insurance policies [Section 10(10D) corresponding to Schedule II, Item 2]

193

10.

Agricultural Income [Section 2(1A), corresponding to section 2(5) of ITA, 2025]

202

11.

Deduction to Units Located in Special Economic Zone [Section 10AA, corresponding to section 144 of ITA, 2025]

207

Section E -- Taxation of Salary Income

12.

SalaryMeaning and Chargeability

211

13.

Special Receipts Taxable as Salary

216

14.

Taxability issues regarding various funds

227

15.

Limitation on exemption regarding Interest from Provident Funds [Section 10(11) and 10(12), corresponding to schedule II(3) and (4) of Income Tax Act, 2025]

230

16.

Tax Treatment of Allowances

232

17.

Perquisites : General [Sections 10(10CC) and 17]

237

18.

Valuation of Perquisites [Section 17 r/w rule 3]

242

19.

Perquisite and Stock Options [Section 17(2)(vi)]

264

20.

Deductions from Salary Income [Section 16, corresponding to section 19 of Income Tax Act, 2025]

271

21.

Profits in Lieu of Salary [Section 17(3), corresponding to section 18 of Income Tax Act, 2025 ]

272

22.

Individuals Filing ITR As Per New Regime Provided Under Section 115BAC and salary income

273

23.

Relief under section 89 r/w rule 21A [Corresponding to section 157 of Income Tax Act, 2025 r/w rule 73 of Income Tax Rules, 2026]

274

24.

Relief from Taxation on Income from Retirement Benefit Account Maintained in a Notified Country [Section 89A, corresponding to section 158 of Income Tax Act, 2025]

276

25.

Tax Planning and Salary Income

276

26.

General Illustrations applicable for assessment year 2026-27

278

Section F -- Income from House Property

27.

Charge of Tax on Income from House Property

283

28.

Annual Value of let out Property [Section 23]

286

29.

Deductions from Annual Value [Section 24]

297

30.

Other Issues [Sections 25, 25A and 26]

300

31.

Planning in Respect of Property Income

302

32.

Illustrations of income from house property

303

Section G -- Profits and Gains of Business or Profession

33.

Business and Business Income

311

34.

Rent, Rates, Taxes, Repairs and Insurance [Sections 30 and 31]

314

35.

Depreciation allowance and Investment allowance [Sections 2(11), 32, 32AC, 32AD, 43A and 43C]

316

36.

Business Deductions in respect of specified businesses/ activities [Sections 33AB to 35E]

337

37.

Specific Business Deductions [Section 36 and 94B]

355

38.

Disallowance of expenditure Against Exempt Income [Section 14A, corresponding to section 14 of Income Tax Act, 2025]

365

39.

Business Expenditure [Section 37(1) & 37(2B), corresponding to section 34 of Income Tax Act, 2025]

366

40.

CBDTs clarifications as to allowability of Certain business expenses [Section 37(1)]

366

41.

Special deductions for agents of insurance, mutual funds, etc.

369

42.

Amounts not deductible [Sections 40(a) and 40(b)]

370

43.

Expenditures not Deductible [Sections 40A and 43B]

377

44.

Special Provisions [Sections 41, 43(5), 43AA, 43CA, 43CB, 43D, 44D, 44DA and 44DB]

388

45.

Accounts and audit [Sections 44AA and 44ab]

400

46.

Presumptive Taxation Schemes

407

Section H -- Capital Gains

47.

Chargeability and Capital asset [Sections 2(14) and 45(1)]

419

48.

Transfer, Transactions Not Regarded as Transfer and Withdrawal of Exemption from Transfer [Sections 2(47), 47 and 47a]

422

49.

Types of Capital assets, Gain and Determination of Period of Holding

429

50.

Computation of Capital Gains

433

51.

Special Provisions for Computation of Capital Gains Arising from Shares, Units, Zero Coupon Bonds and Market linked debentures, Etc.

449

52.

Exemption from capital gain on compulsory acquisition of agricultural land [Section 10(37), corresponding to schedule III(18) of Income Tax Act, 2025]

460

53.

Exemption to capital gains arising from transfer of specified capital asset in certain cases [Section 10(37A)]

461

54.

Taxation of capital gain in certain specific instances

462

55.

Deep Discount Bonds and Strips

491

56.

Employees Stock OptionsCapital Gain Tax Implications

492

57.

Conversion of Private Company/Unlisted public company into LLP and Tax Consequences

492

58.

Deductions from capital gains [Sections 54 to 54H]

494

59.

Reference to Valuation Officer [Section 55A, corresponding to section 91 of Income Tax Act, 2025]

512

60.

Rates of Capital Gains Tax

513

Section I -- Income from Other Sources, Clubbing of Income, Income from Undisclosed Sources and Set Off and Carry Forward of Losses

61.

Income from other Sources

520

62.

Taxation of Start-ups [Section 56(2)(viib)] [Relevant upto 31-3-2025]

546

63.

Clubbing of Income [Sections 60 to 64]

548

64.

Income from Undisclosed Sources [Sections 68 to 69D and 115BBE]

558

65.

Set Off and Carry Forward of Losses

562

Section J -- Deductions Under Chapter VI-A

66.

General Provisions as to Deduction From Total Income

596

67.

Deduction From Total Income Concerning Payments-I Deduction in respect of life insurance premia, deferred annuity, contribution to PF, PPF, subscription to certain equity shares or debentures, etc. [Section 80C, corresponding to Section 123 r/w Schedule XV]

598

68.

Deduction from Total Income Concerning Payments-II

607

69.

Deduction in respect of Certain Incomes

635

70.

Deductions in respect of income from new industries, new hotels and new convention centres

643

Section K -- Specific Tax Entities

71.

Individuals

664

72.

Hindu Undivided Family [Section 171, corresponding to section 315]

669

73.

Assessment of Partnership Firms And Limited Liability Partnership

671

74.

Taxation of Association of Persons

686

75.

Alternate Minimum Tax (AMT) on Certain assessees Other Than Company [Sections 115JC to 115JF, corresponding to section 206(2) of Income Tax Act, 2025]

692

76.

Taxation of Companies, MAT and Dividend Distribution Tax

696

77.

Taxation of mutual funds, New Pension System Trust and Securitisation Trust

719

78.

Taxation of Charitable Trusts and Exempt Institutions

720

79.

Provisions under Income Tax Act, 2025 Dealing with Registered Non-Profit Organisations

765

80.

Private Trusts, Oral Trusts, Etc.

765

81.

Taxation of Co-operative Societies and producer companies

768

82.

Special rate of tax on income from patent and carbon credits

777

83.

Tax on income from transfer of virtual digital assets [Section 115BBH, corresponding to section 194 of Income Tax Act, 2025]

779

84.

Tax on Winnings from Online Games

782

85.

Taxation of Political Parties [Sections 13A, Corresponding to Section 12 r/w Schedule VIII]

782

86.

Taxation of Non-Residents

783

87.

Foreign Tax Credit [Sections 90, 91 and Rule 128]

794

88.

Tonnage tax on shipping companies [Sections 115V to 115VZC, corresponding to section 225 to 235 of Income Tax Act, 2025]

796

Section L -- General Illustrations

89.

Partnership Firm assessed as Such and Partners

801

90.

Personal Taxation

802

91.

Company Taxation

811

92.

All assessees : Capital Gains

816

Section M -- Tax Deduction at Source and Tax Collection at Source

I.

As per Income Tax Act, 1961 [Relevant for assessment year 2026-27]

817

93.

Tax Deduction from Salaries [Section 192, Corresponding to section 392 r/w section 402]

817

94.

Tax deduction from payment of accumulated balance of Employees Provident Fund due to an employee [section 192A]

826

95.

TDS from Interest on Securities [Section 193]

827

96.

TDS from Dividends in case of residents [Section 194]

828

97.

TDS on Interest (including Recurring Deposit) other than Interest on Securities [Section 194a]

830

98.

TDS from Winnings from Lotteries or Crossword Puzzles [Section 194b]

835

99.

TDS on Winnings from Online Games [Section 194BA]

835

100.

TDS on Winnings from Horse Races [Section 194BB]

836

101.

TDS on Payment to Contractors/Sub-Contractors [Section 194C]

837

A.

Provisions as to TDS under section 194C

837

B.

CBDTs clarifications regarding applicability of section 194C

842

C.

Procedural Aspects

845

102.

TDS on Insurance Commission [Section 194D]

845

103.

TDS on Payments Under Life Insurance Policy [Section 194DA]

846

104.

TDS on Payments to Non-Resident Sportsmen or Sports Associations or Entertainer [Section 194e]

847

105.

TDS on Payments in Respect of National Savings Scheme, etc. [Section 194EE]

848

106.

TDS from Payments on Account of Repurchase of Units by UTI/Mutual Fund [Section 194F, Relevant upto 30-9-2024]

848

107.

TDS from Commission on Sale of Lottery Tickets [Section 194G]

848

108.

TDS on Commission or Brokerage [Section 194H]

849

109.

TDS on Rent Payments [Section 194-I]

850

110.

TDS from payment on transfer of certain immovable property other than agricultural land [section 194-IA]

852

111.

TDS on Rent Payment by Individual/HUF in Certain Cases [Section194-IB]

854

112.

TDS on Payment in Case of Land Development Agreement [Section 194-IC]

856

113.

TDS on Payment of Fees for Professional or Technical Services [Section 194J]

856

114.

TDS in Respect of Income in Respect of Units [Section 194K]

860

115.

TDS from payment of compensation on compulsory acquisition of Immovable Property [Section 194LA]

860

116.

TDS on Income by way of interest from infrastructure debt fund [Section 194LB]

861

117.

TDS on Certain Income from Units of a Business Trust [Section 194LBA]

861

118.

TDS on Income in respect of units of investment fund [Section 194LBB]

862

119.

TDS from Income in Respect of Investment in Securitisation Trust [Section 194LBC]

863

120.

TDS on income by way of interest from Indian company or business trust [section 194LC]

863

121.

TDS on Payment Towards Contract, Commission or Brokerage or Fees for Professional Services Paid by Certain IndividualS/HUF [Section 194M]

864

122.

TDS on Cash Withdrawals [Section 194N]

866

123.

TDS on payment of certain sums by e-commerce operator to e-commerce participant [Section 194-O]

868

124.

TDS in Case of Specified Senior Citizens by Banking Companies [Section 194P]

870

125.

TDS by Buyer of Goods [Section 194Q]

870

126.

TDS on benefit or perquisite in respect of business or profession [Section 194R]

878

127.

TDS on Transfer of Virtual Digital Assets [Section 194S]

880

128.

TDS from payment to partners of firms [Section 194T, w.e.f. 1-4-2025]

882

129.

TDS from payments to non-residents [Section 195]

882

130.

No TDS on interest or dividend payable to government or RBI or A corporation [SECTION 196]

887

131.

TDS on Income From Units in Case of Non-Residents [Section 196A]

887

132.

TDS from payment to offshore fund [Section 196B]

888

133.

TDS on Income from FCCB, GDRS [Section 196C]

888

134.

TDS on Income of Foreign Institutional Investor from Securities [Section 196D]

888

135.

Residuary Provisions Related to TDS and Procedural Aspects

889

136.

Furnishing of Quarterly Return in Respect of Payment of Interest to Residents without Deduction of Tax [Section 206A]

906

137.

Collection of Tax at Source [Section 206C]

907

138.

Fee for defaults in furnishing TDS/TCS statements [Section 234E, Corresponding to sectoin 427]

920

II.

As per Income Tax Act, 2025 [Applicable from tax year 2026-27]

920

139.

TDS and TCS provisions under Income Tax Act, 2025 vis--vis under Income Tax Act, 1961

920

140.

TDS from Salary and Accumulated Balance Due to an Employee [Section 392 of ITA, 2025, Corresponding to Section 192 and 192A of Income Tax Act, 1961]

921

141.

TDS on Payments Other Than Salary and Accumulated Balance Due to an Employee [Section 393]

923

142.

Tax Collection at Source [Section 394]

938

143.

Certificate of Tax Deduction or Tax Collection at Lower Rate or for no Tax Deduction and Issuance of TDS Certificate [Section 395]

941

144.

Compliance and Reporting [Section 397]

942

145.

Consequences of Failure to Deduct or Pay or Collect or Pay [Section 398, Corresponding to Section 201 of Income Tax Act, 1961]

947

146.

Processing of TDS, TCS Statement [Section 399, corresponding to section 200A of Income Tax Act, 1961]

948

147.

Power of Central Government to Relax TDS, TCS Provision [Section 400 of Income Tax Act, 2025]

949

148.

Definitions of Certain Terms Used for TDS, TCS Provisions [Section 402 of Income Tax Act, 2025]

949

149.

Miscellaneous Provisions Relating to TDS, TCS

955

Section N -- Advance Income Tax

I.

As per Income Tax Act, 1961

957

150.

Payment of advance tax

957

II.

As per Income Tax Act, 2025 [Applicable from 1-4-2026]

962

151.

Advance Tax Instalments [Sections 211, 218 and 219, corresponding to Section 408 to 410 of Income Tax Act, 2025]

966

Section O -- Interest and Fee

152.

Interest Related Provisions at a Glance

966

153.

Interest Under Section 220 [Corresponding to Section 411 of Income Tax Act, 2025]

967

154.

Interest for Defaults in Furnishing Return of Income [Section 234A, Corresponding to section 423 of Income Tax Act, 2025]

969

155.

Interest for default in payment of advance tax [Section 234B, corresponding to section 424 of Income Tax Act, 2025]

972

156.

Interest for deferment of advance tax [Section 234C, corresponding to section 425 of Income Tax Act, 2025]

974

157.

Interest on refund granted under section 143(1) [Section 234D, corresponding to section 426 of Income Tax Act, 2025]

977

158.

Common Issues

978

159.

Fee payable under income tax act [Sections 234E to 234-I, corresponding to sections 427 to 430 of Income Tax Act, 2025]

978

160.

Interest on Refunds [Section 244A, corresponding to section 437 of Income Tax Act, 2025]

979

161.

Refund for Denying Liability to Deduct Tax in Certain Cases [Section 239A, corresponding to section 434 of Income Tax Act, 2025]

981

162.

Tax Clearance Certificate [Section 230, corresponding to section 420 of Income Tax Act, 2025]

982

Section P -- Penalties

163.

Penalties Imposable Under The ActAt a Glance

986

164.

Penalty for Under-Reporting or MIS-Reporting of Income [Sections 270A and 270AA, corresponding to section 439 and 440 of Income Tax Act, 2025]

995

165.

Common Issues [Sections 273AA, 273B, 274 and 275]

1001

166.

Offences and Prosecution [Sections 275A to 280D]

1003

Section Q -- Assessment

167.

Return of Income [Section 139, corresponding to section 263 of Income Tax Act, 2025]

1009

168.

Self-Assessment tax [Section 140A, corresponding to section 266 of Income Tax Act, 2025]

1029

169.

Assessment [Section 143(1), corresponding to section 270 of Income Tax Act, 2025]

1031

170.

Faceless assessment [Section 144B, corresponding to section 273 of Income Tax Act, 2025]

1032

171.

Reassessment [Section 147 to 151A]

1040

172.

Method of Accounting and Income Computation and Disclosure Standards [Section 145, 145A and 145B]

1048

Section R -- Rectification

173.

Rectification of Mistake [Section 154, corresponding to section 287 of Income Tax Act, 2025]

1071

Section S -- Miscellaneous

174.

Statement of Specified Financial Transaction (SFT) or reportable account [Section 285BA, corresponding to section 508 of ITA, 2025]

1073

175.

Statement by Non-residents [Section 285 and 285A]

1076

176.

Statement for Furnishing Information Regarding Crypto Asset [Section 285BAA, Corresponding to Section 509 of Income Tax Act, 2025]

1077

177.

Annual Statement [Section 285BB, corresponding to section 510 of Income Tax Act, 2025]

1078

178.

Cash transactions [Sections 269SS to 269T and section 271D to 271E]

1078

Section T -- Other Direct Taxes

179.

Securities transaction tax and income tax treatment of gains from sale of equity shares, etc., at a glance

1085

180.

Equalisation levy [Relevant upto 31-3-2025]

1088

181.

Foreign assets disclosure scheme 2026

1094

Notes on Tax Tables

1095

Income Tax & Advance Tax Calculation Tables

Income Tax & Advance Tax : Individual Below 60 Yrs. OF Age/HUF/ AOP/ BOI : A.Y. 2026-27 & T.Y. 2026-27

1103

Income Tax & Advance Tax : Resi. Individual Equal to or above 60 Yrs. But Below 80 Yrs. : A.Y. 2026-27 & T.Y. 2026-27

1114

Income Tax & Advance Tax : Resident Individual Equal to or Above 80 Years. : A.Y. 2026-27 & T.Y. 2026-27

1125

Income Tax & Advance Tax : Individual/HUF/AOP/BOI/AJP [New Regime] : A.Y. 2026-27 & T.Y. 2026-27

1134

Income Tax & Advance Tax : Firm & Domestic Co. : A.Y. 2026-27 and T.Y. 2026-27

1150

Income Tax & Advance Tax : Firm : A.Y. 2026-27 & T.Y. 2026-27

1152

Income Tax & Advance Tax : Domestic Co. : A.Y. 2026-27 & T.Y. 2026-27

1155

Income Tax & Advance Tax : Co-Operative Society : A.Y. 2026-27 and T.Y. 2026-27

1168

Advance Tax : Foreign Companies : A.Y. 2026-27 & T.Y. 2026-27

1167