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AIS vs Form 26AS – Practical Difference Explained with Illustration

AIS vs Form 26AS – Practical Difference Explained with Illustration (2026 Guide) Income tax filing के समय सबसे बड़ा confusion क्या होता है? AIS देखना है या 26AS? दोनों अलग हैं या same? Chaliye ek simple illustration se samajhte hain. ------------------------------------- Illustration: Mr. Verma salary earn karte hain ₹12 lakh annually. Unhone ITR file karne se pehle Form 26AS download kiya. Form 26AS me dikh raha hai: • TDS by employer • Bank TDS on FD interest Unhone return file kar diya. Baad me AIS check kiya to pata chala: • ₹3 lakh mutual fund redemption • ₹8 lakh high value credit card payment • ₹5 lakh property stamp duty entry Ye sab 26AS me nahi tha. ------------------------------------- Difference samjhiye: Form 26AS kya dikhata hai? • TDS entries • TCS entries • Advance tax • Self-assessment tax AIS kya dikhata hai? • TDS + TCS • Savings interest • Mutual fund transactions • Share transactions • Property purchase/sale • High value transactions • Foreign remittance • Credit c...
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Salary + HRA + Home Loan – Kaunsa Tax Regime Better? (Full Illustration 2026)

Salary + HRA + Home Loan – Kaunsa Tax Regime Better? (Full Illustration 2026) Income tax ka sabse bada confusion ye hota hai: Salary bhi hai   HRA bhi mil raha hai   Home loan bhi chal raha hai   To Old Regime choose karein ya New Regime? Aaj ek real life example ke through samajhte hain. -------------------------------------------------- Case Study -------------------------------------------------- Mr. Raj Annual Salary: ₹14,00,000 HRA received: ₹3,00,000 Rent paid: ₹18,000 per month Home Loan Interest: ₹2,20,000 Principal Repayment: ₹1,40,000 Other 80C Investment: ₹50,000 City: Non-metro -------------------------------------------------- Step 1: HRA Exemption Calculation -------------------------------------------------- Rent paid yearly = 18,000 × 12 = ₹2,16,000 HRA exemption = Minimum of: 1) Actual HRA received = 3,00,000   2) Rent paid – 10% salary      = 2,16,000 – 1,40,000      = 76,000   3)...
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Home Loan Par Income Tax Deduction 2026 – Kitna Benefit Milta Hai? (With Full Illustration)

Agar aapne home loan liya hai ya lene ka plan bana rahe hain, to ek baat clear samajh lijiye: Home loan sirf ghar nahi deta — Ye aapka Income Tax bhi kam karta hai. Lekin kaun si section me kitni deduction milti hai? Old Regime me kitna benefit? New Regime me kya milta hai? Aaj sab simple example ke saath samajhte hain. ------------------------------------------ 1️⃣ Home Loan Par Kaun-Kaun Si Deduction Milti Hai? ------------------------------------------ Section 80C Principal repayment par maximum ₹1.5 lakh tak deduction. Section 24(b) Interest payment par maximum ₹2 lakh tak deduction (self-occupied property). Section 80EE / 80EEA First time home buyers ke liye extra deduction (conditions apply). ------------------------------------------ 2️⃣ Practical Illustration (Real Calculation) ------------------------------------------ Case: Annual Salary = ₹12,00,000 Home Loan Interest = ₹2,20,000 Principal Repayment = ₹1,50,000 Other 80C Investment = ₹50,000 ---------------------------------...
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Complete Tax Saving Illustration Under Old Regime (80C + 80D + HRA Explained)

Many salaried individuals fail to optimise deductions properly. Let’s understand with a structured example how tax planning works under the Old Tax Regime. ------------------------------------------------------------ Example Case: Gross Salary: ₹15,00,000 Basic Salary: ₹7,00,000   HRA Received: ₹3,00,000   Other Allowances: ₹5,00,000   Rent Paid: ₹25,000 per month (₹3,00,000 annually) ------------------------------------------------------------ Step 1: HRA Exemption Calculation HRA exemption = Least of: 1) Actual HRA received = ₹3,00,000   2) 50% of Basic Salary (Metro) = ₹3,50,000   3) Rent paid – 10% of Basic      ₹3,00,000 – ₹70,000 = ₹2,30,000   Eligible HRA Exemption = ₹2,30,000   ------------------------------------------------------------ Step 2: Deduction Under Section 80C Eligible Investments: PF + ELSS + LIC etc = ₹1,50,000 (Maximum limit) -------------------------------------------------...
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How to Save Capital Gains Tax Legally Under Section 54 (Property Sale Guide)

Selling a property can trigger a significant capital gains tax liability. However, Section 54 of the Income Tax Act allows you to legally save tax — if structured correctly. Here’s a clear and practical explanation. ------------------------------------------------------------ What is Section 54? Section 54 provides exemption from Long-Term Capital Gains (LTCG) tax when an individual or HUF sells a residential property and reinvests the gains in another residential property. ------------------------------------------------------------ Who Can Claim Section 54? • Individuals   • Hindu Undivided Families (HUF)   The asset sold must be: • A long-term residential property (held for more than 24 months) ------------------------------------------------------------ How Much Exemption Can You Claim? Exemption is allowed to the extent of: Lower of: 1) Capital Gain amount, OR   2) Amount invested in new residential property   --------------------------------...
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Senior Citizen Income Tax Calculation – FY 2025–26

# Senior Citizen Income Tax Calculation – FY 2025–26   (New Tax Regime | AY 2026–27 Onwards) Understanding income tax under the New Tax Regime is essential for senior citizens receiving pension income. Below is a complete step-by-step example showing how the final tax liability can become zero. ------------------------------------------------------------ 1. New Tax Regime Slab Rates (AY 2026–27 onwards) 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% ------------------------------------------------------------ 2. Step 1: Compute Total Income Example: Gross Pension Income:   ...
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TDS Kya Hota Hai Aur Kab Deduct Hota Hai? Beginners Ke Liye Simple Guide

Income tax filing ke time bahut log confuse ho jaate hain ki TDS exactly kya hai aur salary ya payment se automatically tax kyun cut ho jata hai. TDS ka full form hai Tax Deducted at Source — matlab income milte hi kuch percentage tax pehle hi deduct kar liya jata hai. Is guide me simple Hinglish me samajhte hain TDS ka basic concept aur kab apply hota hai. TDS Ka Basic Meaning ➜ TDS ek advance tax collection system hai ➜ Payment karne wala person (deductor) tax ka ek hissa deduct karke government ko deposit karta hai ➜ Aapko net amount milta hai aur deducted tax Form 26AS/AIS me reflect hota hai TDS Kin Payments Par Commonly Lagta Hai ➜ Salary income (Section 192) ➜ Bank interest aur FD interest ➜ Professional fees ya contract payments ➜ Rent payments (certain limits ke baad) ➜ Commission ya brokerage income Har payment par TDS rate alag hota hai aur PAN details correct hona zaroori hai. TDS Kab Deduct Hota Hai ➜ Salary – Monthly payroll processing ke time ➜ Bank interes...
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