The Income Tax Department has a Unified Grievance Management system called e-Nivaran to address taxpayers’ issues. It is an online mode available for making complaints related to filing of taxes. So, if you have any income tax grievance, find out how to submit a complaint and even apply for an escalation, if required.How Do I Submit a Grievance to Income Tax?To submit a grievance to the income tax department, there are two ways. Your choice will depend on whether or not you have registration on the e-filing portal. If you are Registered on the E-filing PortalThese are the steps to follow if you have registration on the e-filing portal:Visit the e-filing portal of the Income Tax Department and log in to your account.Navigate to the grievances tab and select the ‘Submit Grievance’ option.Select the type of grievance and enter the detailsOnce your grievance is updated, you will see a success message and a transaction ID. Moreover, you will also receive an email on your registered e-mail ID. If you are not Registered on the E-filing PortalGo to the e-filing website  Locate the Grievance option in the footer of the webpage, it will be under the ‘Contact Us’ section Select the ‘I do not have a PAN/TAN’ option and ‘Continue’. Enter all  your personal detailsEnter the OTP sent to your phone number and email id Select the type of grievance and enter grievance details. Enter the Assessment year, Financial year, and PAN/TAN Application number.Write a grievance description (You can also add attachments as proof).Click on Submit GrievanceIn addition, you can also address your issues via the income tax grievance email id which is: webmanager@incometax.gov.in. What Kind of Grievances are Addressed on e-Nivaran?In the income tax grievance portal, you can file a complaint against the following:Department CategorySub categoryAOMisc. Application PendingMisc.

Intimation under section 143(1) is sent by the income tax department after your income tax returns are processed. If there is a difference between calculation between ITR filed and as processed by the department, the intimation needs to be responded accordingly. The time limit for processing the return within 31st March 2024, and erroneously invalidated due to technical glitches will be processed within 31st March 2026.What is Letter of Intimation u/s 143(1)?The process of examining the return filed by the taxpayer by the income tax department is termed assessment. The IT department carries out a preliminary assessment of all the returns filed. If there are arithmetical errors, internal inconsistencies, tax calculation and verification of tax payment discrepancies, the department sends an intimation under section 143(1). The preliminary evaluation process is fully computerised (automated), and is delegated to the Central Processing Centre (CPC).What is the  Password for Intimation u/s 143(1)?The intimation received under Section 143(1) is password protected.

Long Term Capital Gains (LTCG) arise from sale of stocks, properties etc., held longer than 24 months. 12.5% tax is applicable on long-term capital gains. However, for listed equity shares and equity-oriented funds ₹1.25 lakhs exemption is available.Budget 2026 UpdateIt has been proposed to tax buyback of shares as Capital Gains Income. What is Long-term Capital Gain (LTCG)?Capital gains or profits arising from the transfer of Long-Term Capital Assets is referred to as Long-Term Capital Gains or LTCG. An asset held for more than 24 months is termed as a long term capital asset.For listed equity shares, equity oriented funds, and units of business trust, the holding period is 12 months. (if held for more than 12 months, they are considered long term capital assets)Long-term Capital Gain (LTCG) Tax Rate The following tax rates are applicable to long-term capital gains:Asset TypeHolding period (LTCA if held for more than the specified period)Tax RateListed Equity Shares12 months12.50%**Equity Mutual Funds12 months12.50%**Property (land/building)*24 months12.50%Gold / Gold ETF24 months12.50%Debt Mutual Funds (post Apr 2023)Any holding periodAs per slab* - 20% tax rate with indexation benefits available for resident individuals and HUFs whose assets were purchased before 23rd July 2024.**- Exemption up to Rs. 1.25 lakhs available for listed equity shares, equity oriented funds and units of business trust.Calculation of LTCG TaxTo calculate the long-term capital gains accurately, follow the steps mentioned below:1.

Section 54EC of the Income Tax Act allows taxpayers to save long-term capital gains tax by investing the gains from the sale of land or building in specified bonds issued by NHAI or REC within six months. The exemption is capped at ₹50 lakh, subject to a five-year lock-in period.What is Section 54EC?When a taxpayer sells long-term immovable property (land or building or both), they have the option to avail capital gain exemption under Section 54EC by investing in certain bonds.Section 54EC bonds, also known as Capital gain bonds are fixed income instruments which provide capital gains tax exemption under section 54EC to the investors. Eligibility Conditions u/s 54ECTo be eligible for exemption under Section 54EC, the taxpayer must meet the following conditions:The exemption under Section 54EC can be claimed by any taxpayer, including individuals, Hindu Undivided Families (HUFs), companies, LLPs, firms, and others.The asset being sold should be a Long Term Capital Asset, which includes land or building or both. The asset is considered long-term if the taxpayer has held it for a minimum of 24 months prior to the sale.The taxpayer must invest the Capital Gains within 6 months from the date of transfer.The total investment amount cannot exceed INR 50 lakhs during the current financial year and the subsequent financial year.The taxpayer cannot transfer, convert, or use the bonds as collateral for loans or advances for a period of 5 years from the date of acquisition.Bonds Eligible for Exemption Under Section 54EC of the Income Tax ActRural Electrification Corporation Limited or REC bondsNational Highway Authority of India or NHAI bondsPower Finance Corporation Limited or PFC bondsIndian Railway Finance Corporation Limited or IRFC bondsKey Facts to Avail the LTCG Exemption by Investment in Capital Gain BondsTo avail the tax exemption the investment must be made within 6 months of the date of sale of immovable property.Such investment can be redeemed only after 5 years. Before April 2018 the bonds could be redeemed within 3 years.The exemption on investment is allowed only against long term capital gains on sale of immovable property (i.e. sale of land or building or both).The exemption is available up to a maximum amount of Rs.50 lakhHow to Calculate the Tax Exemption by Investment in Tax-Saving Bonds?Example 1: Assuming that an immovable property is sold at Rs.70 lakh after a long term period of 42 months from the date of acquisition.

Form 15G is a self-declaration form for resident individuals below 60 years to prevent TDS on interest income when total tax liability is nil. Form 15H is the equivalent for senior citizens aged above 60 years. Both forms are submitted to banks or financial institutions under the provisions of the Income Tax Act, 1961. Important (FY 2026-27): From April 1, 2026, Form 15G and Form 15H have been replaced by the new Form 121 under the Income Tax Act, 2025. If you are filing for FY 2025-26 or earlier, use Form 15G/15H. For FY 2026-27 onwards, use Form 121.Quick Highlights: Form 15G vs Form 15HParticularsForm 15GForm 15HEligible AgeBelow 60 years60 years and aboveKey ConditionTotal estimated tax liability for the financial year must be NilTotal estimated tax liability for the financial year must be NilWho Can SubmitResident individuals, HUFs, and certain eligible assesseesResident senior citizensValidityValid for one financial yearValid for one financial yearSubmission RequirementMust be submitted separately to each bank, post office, or deductor where income is earnedMust be submitted separately to each bank, post office, or deductor where income is earnedWhat is Form 15G?Form 15G is a self-declaration form for individuals to submit to banks or financial institutions to avoid Tax Deducted at Source (TDS) on interest income, when the total income is below the basic exemption limit.Form 15G is generally used by individuals below 60 years of age and Hindu Undivided Families (HUFs) to ensure that TDS is not deducted on interest earned from sources such as fixed deposits or recurring deposits.

Salary income is taxable under the Income Tax Act and includes basic pay, allowances, bonuses, and perquisites received from an employer. Understanding taxable and exempt salary components, available deductions, and applicable tax regimes can help salaried individuals calculate tax liability accurately and maximise tax savings while filing Income Tax Returns.Salary Changes - Income Tax Rules 2026The Income Tax Rules 2026 has introduced massive changes to the exemption limits. This includes children education allowance and hostel allowance which can be claimed as exemption from salary income. What is Salary?Any compensation or benefit received by the employee from his employer falls under the purview of salary. This need not be received in cash. More often than not, non monetary benefits the employee receives forms part of their salary.

As per the provisions of Section 44AB of the Income Tax Act,1961, if the taxpayer's business or professional turnover exceeds prescribed threshold limit, then the taxpayer is required to get the books of accounts audited before filing a tax return. Tax audit will also be applicable if the taxpayer opting for presumptive taxation wants to declare profits lower than the prescribed rate. The due date to file ITR for taxpayers requiring tax audit under Section 44AB is 31st October 2026 for FY 2025-26 (AY 2026-27).Budget 2026 UpdateAmount payable on default of submitting the tax audit report has been converted from penalty to fees. This is intended to reduce litigations.What is a Tax Audit?Tax audit is an examination or review of books of accounts of any business or profession carried out by taxpayers from an income tax viewpoint.Section 44AB of the income tax act mandate tax audit for businesses have turnover more than Rs. 1 Crore or Rs. 10 Crore (where more than 95% of receipts are digital).

Filing and verifying an Income Tax Return (ITR) is not the last procedure in the tax compliance process. Taxpayer must also check if the Income Tax Department has processed their returns, issued refunds, or raised any tax demands. The previous years' ITRs are often required for verifying any existing discrepancies, revising returns, applying for loans and claiming losses as well. Why do Taxpayers Need Previous Years’ Tax Returns?The reasons why taxpayers need their previous years’ tax returns are discussed below:Verification and Processing: After filing and verifying their ITR, taxpayers have to check if the Income Tax Department has completed verifying their tax return and processing their ITR.Check for discrepancies: Upon receiving the intimation under section 143(1) of the Income Tax Department, the taxpayer must check for discrepancies in the tax calculation of the taxpayer and the Income Tax Department, demand or refund status. If there is any demand due, the taxpayers need to respond or pay to the Income Tax Department to avoid penalties.Refund Status: The taxpayer has to go through the previous year's ITR to check if the Income Tax Department has processed the refund. The taxpayer who doesn’t receive a refund should check the reasons, such as bank details, inoperative PAN, etc.Rectifying mistakes: If the taxpayer wants to revise his ITR, he can correct the mistakes before 3 months from the completion of the assessment year or on or before assessment, whichever is earlier.Carry forward of losses: Taxpayers can carry forward their business losses, capital losses, etc., against the income of future years.

Section 10(14) of the Income Tax Act provides tax exemption on Children Education Allowance and Hostel allowance received from an employer. The exemption covers tuition fees paid for a child’s education and is available only when opting for the old tax regime, subject to prescribed limits and conditions. Tuition fees can also be claimed as a deduction under Section 80C. However, these exemptions and dedctions are not allowed under the new tax regime. As per the Income Tax Rules 2026, the eligible limits for children education allowance and hostel allowance has been significantly increased from the previous limits. Key HighlightsTax Regime: Only under the old tax regime.Threshold Limit: Rs. 1,200 per child for maximum two children.

Home loan can be a highly beneficial tax saving tool for taxpayers, and the scale of benefit depends on choice of regime, status of occupancy, and quantum of loan interest due and principal payment for the financial year, etc. Using Section 80C and Section 24(b), a homeowner under the old tax regime can reduce their taxable income by up to Rs. 3.5 lakh every year. Home Loan Tax Benefits - Key HighlightsThe maximum limits for deductions available against interest and principal paid during the financial year are presented in a table below: DeductionComponentMaximum LimitTax RegimeSection 80CPrincipalRs. 1.5 lakhOld Tax RegimeSection 24(b)InterestSelf-occupied property: Rs. 2 lakhOld Tax RegimeLet-out property: Entire interest up to rental incomeOld & New Tax RegimeSection 80EEInterestRs. 50,000Old Tax RegimeSection 80EEAInterestRs.