Section-by-Section Reference

Section 80C allows a deduction up to ₹1,50,000 in aggregate for specified investments and payments such as LIC premium, PPF, EPF, ELSS, principal repayment of housing loan, tuition fees and Sukanya Samriddhi.

Section 80D allows individuals and HUFs to claim a deduction for health insurance premium and preventive health check-up — up to ₹25,000 for self, spouse and dependent children, with an additional ₹25,000 (₹50,000 for senior citizens) for parents.

Section 80G allows a deduction for donations to specified funds and approved charitable institutions — either 100% or 50% of the donation, with or without a qualifying limit of 10% of adjusted gross total income.

Section 87A gives resident individuals a rebate that cancels out tax on incomes up to a specified threshold — ₹12,00,000 under the default new regime and ₹5,00,000 under the old regime.

Section 115BAC is the default new personal tax regime with concessional slab rates and a standard deduction of ₹75,000, but it disallows most Chapter VI-A deductions including 80C and 80D.

Section 44AD presumes income at 8% (6% for digital receipts) of turnover for eligible resident small businesses with turnover up to ₹3 crore (where cash receipts do not exceed 5% of total receipts).

Section 44ADA presumes income at 50% of gross receipts for resident professionals with gross receipts up to ₹75 lakh (where cash receipts do not exceed 5% of total receipts).

Clause (h) of Section 43B disallows deduction for sums payable to a Micro or Small enterprise beyond the time-limit specified in Section 15 of the MSMED Act, 2006 (45 days where there is a written agreement, otherwise 15 days) — allowed only in the year of actual payment.

Section 44AB requires a tax audit for businesses with turnover above ₹1 crore (₹10 crore if cash transactions ≤ 5%) and professionals with gross receipts above ₹50 lakh.

Section 194C requires TDS at 1% (individual/HUF payee) or 2% (other payees) on payments to contractors when a single payment exceeds ₹30,000 or aggregate annual payments exceed ₹1,00,000.

Section 194J requires TDS at 10% on professional fees, 2% on technical services and royalty for cinematographic films, and 2% on fees for technical services — triggered when annual payment exceeds ₹30,000 per category.

Section 194A requires deduction of TDS at 10% on interest other than interest on securities, with thresholds of ₹40,000 (₹50,000 for senior citizens) for banks and post offices.

Section 194-I requires TDS on rent at 10% for land/building/furniture and 2% for plant and machinery, once aggregate rent in a year exceeds ₹2,40,000.

Section 194Q requires buyers with turnover above ₹10 crore to deduct TDS at 0.1% on the value of goods purchased from a seller in excess of ₹50 lakh in a financial year.

Section 194R requires TDS at 10% on the value of any benefit or perquisite (whether in cash or kind) provided to a resident arising from business or profession, where aggregate value in a year exceeds ₹20,000.

Section 54 exempts long-term capital gains arising on transfer of a residential house if the gain is invested in another residential house in India within prescribed time-limits, capped at ₹10 crore.

Section 54F exempts long-term capital gains from sale of any asset (other than a residential house) if the net consideration is reinvested in one residential house in India, subject to a ₹10 crore cap.

Section 10(13A) read with Rule 2A exempts House Rent Allowance to the extent of the least of actual HRA, rent paid minus 10% of salary, or 50%/40% of salary (metro/non-metro).

Section 139 governs the filing of income-tax returns — due dates, belated returns u/s 139(4), revised returns u/s 139(5), updated returns u/s 139(8A) and defective returns u/s 139(9).

Section 143(1) provides for processing of returns by CPC and issue of an intimation showing income computed, tax payable or refund, after specified prima-facie adjustments.

Section 148 read with Section 148A governs reopening of completed assessments. A show-cause must be issued under 148A before any 148 notice, with extended time-limits where the escaped income is ₹50 lakh or more.

Section 234F levies a fee of ₹5,000 for filing the return after the due date u/s 139(1), reduced to ₹1,000 where total income does not exceed ₹5 lakh.

Sections 234A, 234B and 234C levy interest at 1% per month for late filing of return, shortfall of advance tax, and default in payment of quarterly advance-tax instalments respectively.