FinSpyne Knowledge Centre

Everything you need to stay informed & compliant.

Guides, calculators, compliance deadlines, tax updates, and Q&A — all in one place. Curated and maintained by our CA team so you always have accurate, up-to-date information at your fingertips.

📄 Income Tax 📊 GST 🏚 ROC / MCA 📈 Financial Planning 🛡 Insurance 🔬 Calculators 📅 Deadlines

🔔 Latest Updates & Notifications

Click any act to expand the latest changes. Updated regularly by our CA team.

Last reviewed: April 2026

IT Act 1961Income Tax Act 1961 — Latest Updates

NEW

LTCG on property — dual option: Property acquired on or before 22 July 2024 — choose 20% with indexation OR 12.5% without. Property acquired on or after 23 July 2024 — only 12.5% without indexation applies.

Effective: 23 July 2024

NEW

LTCG exemption raised to ₹1.25 lakh: Exemption on LTCG from listed equity shares and equity mutual funds increased from ₹1 lakh to ₹1.25 lakh per year.

Effective: FY 2024-25

NEW

STCG rate raised to 20%: Short-term capital gains on equity shares (Section 111A) increased from 15% to 20%.

Effective: 23 July 2024

NEW

Nil tax up to ₹12 lakh (New Regime): Income up to ₹12 lakh (₹12.75 lakh for salaried after standard deduction) — zero tax after rebate under Section 87A.

Effective: FY 2025-26

Leave encashment limit raised: Non-government employees — exemption limit increased from ₹3 lakh to ₹25 lakh on retirement.

Effective: FY 2023-24

Share buyback — deemed dividend: From 1 October 2024, proceeds from listed company share buybacks are treated as deemed dividends in shareholder hands — taxable at slab rate.

Effective: 1 October 2024

IT Act 2025Income Tax Act 2025 — New Provisions

NEW

"Tax Year" replaces AY/PY: Single concept of "Tax Year" replaces "Assessment Year" and "Previous Year." Tax Year = the year in which income is earned.

Effective: Tax Year 2026-27

NEW

New regime becomes default: From Tax Year 2026-27, new tax regime is the default. Taxpayers must actively opt for old regime. Most exemptions not available under new regime.

Effective: Tax Year 2026-27

NEW

VDA provisions codified: Crypto, NFTs — flat 30% tax + 1% TDS formally included in new Act. No set-off of VDA losses against any other income.

Effective: Tax Year 2026-27

NEW

Online games — flat 30%: All online game winnings taxable at flat 30% with TDS deducted at source. No deductions allowed.

Effective: Tax Year 2026-27

Important: IT Act 1961 applies for income earned up to 31 March 2026. IT Act 2025 applies from Tax Year 2026-27 (income from 1 April 2026 onwards).

GSTGST — Latest Notifications

NEW

ISD mechanism mandatory from April 2025: Input Service Distributor mechanism mandatory for businesses with multiple GSTINs receiving centralised services.

Effective: April 2025

NEW

GST on commercial property rent (RCM): GST applicable under Reverse Charge if landlord is unregistered. Registered tenant must pay GST under RCM.

E-invoicing threshold: Businesses with turnover above ₹5 crore must generate e-invoices for all B2B transactions. Further reduction expected soon.

GSTR-1A introduced: New optional form to amend GSTR-1 details before filing GSTR-3B in the same period.

MCA / ROCMCA / ROC — Recent Circulars

NEW

MCA V3 portal: All ROC filings, company incorporations, and Director KYC now processed through MCA21 V3. Login credentials must be updated by all companies and directors.

DIR-3 KYC deadline: Annual Director KYC must be filed by 30 September. Late filing deactivates DIN immediately — ₹5,000 reactivation fee.

LLP annual filing: Form 11 (Annual Return) within 60 days of year end. Form 8 (Statement of Accounts) by 30 October every year.

InvestmentsInvestment & Market Updates

NEW

Debt mutual fund taxation: Debt funds purchased after 1 April 2023 taxed at slab rate regardless of holding period. No LTCG benefit, no indexation available.

NEW

Gold & Silver ETFs — 12.5% LTCG: Now treated like equity — 12.5% LTCG for holdings above 12 months above ₹1.25 lakh exemption. Changed from Budget 2024.

NPS — additional ₹50,000 deduction: Extra ₹50,000 under Section 80CCD(1B) over and above ₹1.5 lakh 80C limit — available under old regime.

ELSS — 3-year lock-in continues: Equity Linked Savings Scheme retains 80C benefit and 3-year lock-in under old regime. LTCG above ₹1.25 lakh taxed at 12.5%.

InsuranceInsurance — IRDAI Updates

NEW

ULIP maturity — now capital gains: ULIPs with annual premium above ₹2.5 lakh — maturity proceeds treated as capital gains, not exempt income.

NEW

Reduced waiting periods: IRDAI directed insurers to reduce pre-existing condition waiting periods. Standardised health insurance policies launched across industry.

Bima Sugam platform: IRDAI building central digital insurance marketplace for online purchase and management of all insurance policies.

🔬 Calculators & Tools

📄 Income Tax — Q&A & Guides

How is HRA exemption calculated? (FY 2025-26)

HRA exemption is the lowest of the following three:

1. Actual HRA received from employer (annual)
2. 50% of basic salary — Metro city / 40% — Non-metro city (annual)
3. Rent paid minus 10% of basic salary (annual)

Metro cities (50% applicable): Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad, Pune.

Impact of Tax Year 2026-27 (IT Act 2025): HRA exemption is available under the old regime only. Under the new regime (which becomes the default from Tax Year 2026-27), HRA exemption is NOT available. Speak to your FinSpyne CA before Tax Year 2026-27 to plan your salary structure and choose the right regime.

Example: Basic salary ₹50,000/month | HRA received ₹20,000/month | Rent paid ₹18,000/month | Delhi (Metro)
1. Annual HRA = ₹2,40,000 2. 50% of basic = ₹3,00,000 3. Rent – 10% basic = ₹1,56,000
HRA Exemption = ₹1,56,000 (lowest of three)

Annual rent above ₹1 lakh — landlord's PAN is mandatory. Failure to submit may result in disallowance of the entire HRA exemption.

📲 Need help calculating your HRA? WhatsApp our CA team →

What are the new income tax slabs for FY 2025-26 under the new regime?

Under the new tax regime for FY 2025-26, income up to ₹12 lakh has zero tax liability after rebate under Section 87A. For salaried individuals with the ₹75,000 standard deduction, effective nil tax limit is ₹12.75 lakh.

New Regime Tax Slabs:
Up to ₹3 lakh — Nil | ₹3-7 lakh — 5% | ₹7-10 lakh — 10% | ₹10-12 lakh — 15% | ₹12-15 lakh — 20% | Above ₹15 lakh — 30%

Section 87A Rebate: If total income does not exceed ₹12 lakh — full tax is rebated resulting in zero payable. This rebate is not available on special rate income (e.g., STCG, LTCG).

From Tax Year 2026-27 (IT Act 2025): New regime becomes the default. You must actively opt for old regime while filing ITR. Speak to your FinSpyne CA to decide which is better for your income level.

How are shares (equity) taxed — STCG vs LTCG? (Updated post July 2024)

Short Term Capital Gains — Section 111A (sold within 12 months): Taxed at 20% (increased from 15% effective 23 July 2024). STT must have been paid on the transaction.

Long Term Capital Gains — Section 112A (held more than 12 months): Taxed at 12.5% on gains exceeding ₹1.25 lakh per year. No indexation available. STT must have been paid.

Grandfathering provision: Shares acquired before 1 February 2018 — cost of acquisition = Fair Market Value as on 31 January 2018 (if higher than actual cost). This protects all pre-2018 gains from tax.

Share buyback proceeds (from 1 October 2024): Proceeds received from listed company share buybacks are treated as deemed dividends — taxable in shareholder hands at applicable slab rate. No more capital gains treatment for buybacks.

ITR reporting: Transactions before and after 23 July 2024 must be reported separately in Schedule CG as rates changed on that date.

FinSpyne prepares detailed capital gains computation statements for all equity investors — ensuring accurate ITR reporting and maximising your ₹1.25 lakh annual LTCG exemption.

How are Mutual Funds taxed — Equity, Debt, and Gold/Silver ETFs separately?

Equity Mutual Funds (including ELSS): LTCG (held above 12 months) — 12.5% on gains above ₹1.25 lakh. STCG (held 12 months or less) — 20%.

Debt Mutual Funds (purchased after 1 April 2023): No LTCG benefit regardless of holding period. All gains added to total income and taxed at applicable slab rate. Debt funds lost their tax advantage completely from FY 2023-24 onwards.

Gold & Silver ETFs: Treated like equity mutual funds from Budget 2024. LTCG (held above 12 months) at 12.5% on gains above ₹1.25 lakh. STCG (held 12 months or less) at 20%.

SIP taxation — important: Each SIP instalment is treated as a separate investment with its own holding period and cost of acquisition. Your first SIP may be LTCG while recent ones are STCG — each must be calculated individually. FinSpyne prepares the full computation for you.

Debt funds and hybrid funds with less than 65% equity allocation — check the fund category carefully before assuming LTCG benefit applies.

What is the tax treatment of PF, Gratuity, and Leave Encashment?

EPF (Employee Provident Fund):
• Interest on EPF contribution above ₹2.5 lakh/year (₹5 lakh for government employees) is taxable from FY 2021-22 onwards.
• Withdrawal before 5 years of continuous service — TDS at 10% + taxable as income.
• Withdrawal after 5 years of continuous service — fully exempt.
• Retirement withdrawal — fully exempt.

FinSpyne helps with PF withdrawal: We guide you through the complete PF withdrawal process — UAN activation, KYC linking, online claim filing, and follow-up with EPFO until your amount is credited. 📲 WhatsApp us for PF help →

Gratuity:
• Government employees — fully exempt (no limit).
• Private employees covered under Gratuity Act — exempt up to ₹20 lakh.
• Private employees not covered — lower of ₹20 lakh, actual gratuity received, or half month's salary per year of service.

Leave Encashment:
• Government employees — fully exempt on retirement (no limit).
• Private employees — exempt up to ₹25 lakh on retirement (updated from ₹3 lakh effective FY 2023-24).
• Leave encashment during service — fully taxable for all employees.

How is income from VDA (Crypto / NFTs) taxed?

Flat 30% tax on all income from transfer of Virtual Digital Assets — includes Bitcoin, Ethereum, all cryptocurrencies, NFTs, and other digital assets.

1% TDS deducted at source on every transfer above ₹10,000 per transaction (₹50,000 per year for specified persons). Crypto exchanges deduct this automatically.

No deductions allowed — you cannot deduct any expenses against VDA income except the original cost of acquisition.

No set-off — losses from one VDA cannot be set off against gains from another VDA or any other income. Each asset is treated independently.

NFTs: Explicitly included under the VDA definition. Sale of any NFT is taxable at flat 30%.

Under IT Act 2025: These provisions are formally codified and effective from Tax Year 2026-27.

Income tax portal now receives TDS data directly from crypto exchanges. Unreported VDA income triggers automated notices, penalties, and interest at 1% per month. File accurately and on time.

How is income from online games taxed?

Flat 30% tax on all winnings from online games — fantasy sports (Dream11, MPL), online rummy, poker, and all other online games of skill or chance.

TDS at 30% deducted by gaming platforms on every withdrawal above ₹100 (threshold significantly reduced). Platforms are required to deduct and deposit TDS with government.

No deductions allowed — entry fees, subscription costs, and losses from other games cannot be deducted from winnings.

Must be reported in ITR under "Income from Other Sources" under Section 115BBJ.

Under IT Act 2025: Provision formally codified. Same treatment continues from Tax Year 2026-27.

Even if TDS has been deducted by the gaming platform, you must still file ITR and report gross gaming income. Non-filing can result in notices even if net tax is zero.

What changes does the Income Tax Act 2025 bring for salaried individuals?

The Income Tax Act 2025 is effective from Tax Year 2026-27 (income earned from 1 April 2026). Key changes for salaried individuals:

1. "Tax Year" concept: "Assessment Year" and "Previous Year" are replaced by a single "Tax Year." Tax Year 2026-27 = income earned during 2026-27.

2. New regime as default: If you do not actively opt for old regime when filing ITR, new regime applies automatically. This means — if you have investments (PPF, LIC, home loan) under old regime, you must remember to opt for old regime every year.

3. Standard deduction continues: ₹75,000 standard deduction for salaried employees continues under new regime.

4. Nil tax up to ₹12.75 lakh: Continues for salaried under new regime after standard deduction and rebate.

5. HRA, 80C, 80D not available under new regime: If you want to claim these, you must opt for old regime.

FinSpyne recommends consulting your CA before Tax Year 2026-27 begins to plan your salary structure, investments, and optimal regime choice for the new Act.

🔬 Calculators

🔬Income Tax Calculator — Old vs New Regime

Annual Gross Salary (₹)

Other Income — Rental, Interest etc. (₹)

Total 80C Investments (₹) — Max ₹1,50,000

Health Insurance Premium 80D (₹)

HRA Exemption (₹) — from HRA calculator below

Financial Year

📈 Calculation Result

Tax Payable — Old Regime (incl. 4% cess)₹ — — —

Tax Payable — New Regime (incl. 4% cess)₹ — — —

✅ Recommended Regime— — —

Tax Saving with Recommended Regime₹ — — —

* Results are indicative only. Please consult your FinSpyne CA for accurate tax computation including surcharge, cess, and special rate incomes.

🏠HRA Exemption Calculator

Basic Salary per month (₹)

HRA Received per month (₹)

Rent Paid per month (₹)

City Type

📈 HRA Exemption Breakdown (Annual)

HRA Received₹ — — —

50% / 40% of Basic Salary₹ — — —

Rent Paid minus 10% of Basic₹ — — —

✅ HRA Exemption (Lowest of three)₹ — — —

Taxable HRA (Received minus Exemption)₹ — — —

* Available under old regime only. HRA exemption is NOT available under the new tax regime.

📊 GST — Q&A

Who is required to register under GST in India?

GST registration is mandatory if annual turnover exceeds:
• ₹40 lakh — for businesses supplying goods (₹20 lakh for special category states)
• ₹20 lakh — for service providers (₹10 lakh for special category states)

Registration also mandatory regardless of turnover for: e-commerce sellers, businesses making inter-state supplies, Input Service Distributors, casual taxable persons, and non-resident taxable persons.

FinSpyne handles complete GST registration — document preparation, portal submission, and GSTIN activation. Typically completed in 3-7 working days.

What is the difference between GSTR-1 and GSTR-3B?

GSTR-1: Invoice-level details of all outward supplies (sales). Filed by 11th of following month (monthly filers). Feeds the buyer's GSTR-2B automatically.

GSTR-3B: Monthly summary return — net tax liability, ITC claimed, and payment. Filed by 20th of following month. Tax must be paid before filing.

Both are mandatory. Late filing of either attracts ₹50/day penalty (₹20/day for nil returns) plus interest at 18% on tax dues.

What is ITC reconciliation and why does it matter so much?

ITC (Input Tax Credit) reconciliation = matching the GST you paid on purchases against what your suppliers have filed in GSTR-2B. If your supplier hasn't filed, you cannot claim that credit.

FinSpyne reconciles your GSTR-2B every month against your purchase register — identifying mismatches before they attract departmental notices or demands.

From FY 2022-23, ITC is restricted to only what appears in GSTR-2B. Excess claims are reversed with 18% interest. Many businesses have lost lakhs in ITC due to supplier non-compliance — monthly reconciliation is critical.

What happens if I receive a GST notice?

Common GST notices: DRC-01 (demand and recovery), ASMT-10 (scrutiny of return), ADT-01 (audit). Each has strict response deadlines — usually 7 to 30 days.

Common reasons: ITC mismatch with GSTR-2B, difference between GSTR-1 and GSTR-3B, turnover mismatch with ITR, late filing, incorrect HSN codes, or GST cancellation.

FinSpyne handles the entire notice response — even for businesses that haven't previously filed with us. Contact us immediately upon receipt of any GST notice.📲 Got a GST notice? WhatsApp us immediately →

🔬 GST Calculator

📊GST Calculator

Amount (before GST) (₹)

GST Rate

📈 GST Breakdown

Base Amount (excl. GST)₹ — — —

CGST (half of selected rate)₹ — — —

SGST (half of selected rate)₹ — — —

Total GST Amount₹ — — —

✅ Total Invoice Amount₹ — — —

🏚 Company Incorporation / ROC / MCA — Q&A

Pvt Ltd vs LLP vs Proprietorship — which structure should I choose?

Proprietorship: No separate legal entity. Owner and business are the same. Unlimited personal liability. No ROC compliance required. Simplest to start, easiest to close.

LLP (Limited Liability Partnership): Separate legal entity. Partners have limited liability. Lower compliance burden than Pvt Ltd. Annual ROC filings mandatory — Form 11 and Form 8.

Private Limited Company: Separate legal entity. Shareholders have limited liability. Best structure for raising investment, multiple stakeholders, and future expansion. Higher compliance — board meetings, annual ROC filings, statutory audit, director KYC.

FinSpyne recommends Pvt Ltd for businesses planning to raise funding, bring in investors, or wanting the strongest legal protection and credibility.

What annual compliances must a Pvt Ltd company complete every year?

Every Private Limited Company must complete annually:
• AOC-4 — Filing of financial statements (within 30 days of AGM)
• MGT-7 / MGT-7A — Annual Return (within 60 days of AGM)
• ADT-1 — Auditor appointment (within 15 days of AGM)
• DIR-3 KYC — Director KYC for every director (by 30 September)
• Minimum 4 Board Meetings per year
• Statutory Audit — mandatory for all Pvt Ltd companies regardless of turnover
• AGM — Annual General Meeting within 6 months of financial year end

Late filing of AOC-4 or MGT-7 attracts ₹100/day penalty with no upper cap. Prolonged non-compliance = company struck off the register + directors disqualified.

What is Director KYC and what happens if it is not filed on time?

Every director holding a DIN (Director Identification Number) must file DIR-3 KYC annually by 30 September. This requires Aadhaar-linked mobile OTP and email OTP verification.

If not filed: DIN is immediately marked "Deactivated." The director cannot sign any company document, board resolution, or MCA filing until the DIN is reactivated. Reactivation requires ₹5,000 late fee per director.📲 FinSpyne tracks and files Director KYC proactively for all clients →

How long does company incorporation take with FinSpyne?

With complete and correct documents — typically 10-15 working days.

Process: Name reservation via RUN → DSC procurement for directors → DIN allotment → MOA and AOA drafting → SPICe+ form filing → Certificate of Incorporation issued by MCA.

FinSpyne handles every step and delivers: Certificate of Incorporation, PAN, TAN, and GSTIN of the new company — all in one engagement.

Can FinSpyne help convert a proprietorship or partnership into a Pvt Ltd company?

Yes. We handle the complete conversion process including: conversion agreement drafting, MCA filings, GST and PAN amendments, bank account transition, and asset transfer documentation.

Our team (led by CA Karan Bansal with M&A and foreign accounting expertise, and our CS-qualified partner) advises on the most tax-efficient conversion structure for your specific business situation.

📈 Financial Planning — Q&A & Guides

Where should a salaried person invest their surplus money?

The right investment depends on your goals, timeline, and risk appetite:

Short term (less than 1 year): Liquid funds, FDs, sweep-in savings accounts.
Medium term (1-3 years): Balanced advantage funds, FDs, short-duration debt funds (pre-April 2023 purchases had LTCG benefit — check carefully).
Long term (more than 3 years): Equity mutual funds (SIP), direct equity stocks, PPF, NPS.
Tax saving: ELSS (3-year lock-in, 80C benefit under old regime), NPS (additional ₹50,000 under 80CCD(1B)).

FinSpyne's financial planning service (led by CA Avik Paul — CFA, MBA) provides specific recommendations based on your exact income, existing portfolio, risk profile, and financial goals — not generic advice.📲 Get personalised investment guidance for ₹500/month →

How should I think about Gold and Silver as investments?

Physical Gold/Silver: LTCG (held above 24 months) — 12.5% without indexation (changed from Budget 2024). STCG (held 24 months or less) — added to income, taxed at slab rate.

Gold & Silver ETFs: Now treated like equity from Budget 2024. LTCG (held above 12 months) at 12.5% on gains above ₹1.25 lakh. More tax-efficient than physical gold for most investors.

Sovereign Gold Bonds (SGBs): If held to maturity (8 years) — capital gains are completely tax exempt. Interest of 2.5% p.a. is taxable. Most tax-efficient gold investment if you can hold for the full term.

General allocation recommendation: 5-10% of portfolio in gold as a hedge against inflation and currency depreciation.

What is NPS and is it worth investing in?

NPS (National Pension System) is a government-backed retirement savings scheme with significant tax benefits under the old regime.

Tax deductions (old regime):
• Up to ₹1.5 lakh under 80CCD(1) — within the overall 80C limit
• Additional ₹50,000 under 80CCD(1B) — over and above the 80C limit

Returns: Market-linked — you choose allocation between equity (E), government bonds (G), and corporate bonds (C). Historically 9-11% annualised returns.

At maturity (age 60): 60% lump sum — completely tax-free. 40% must be used to purchase an annuity — annuity income is taxable at slab rate.

Who should invest: Those in the 30% tax bracket who want simultaneous tax savings and retirement planning. The additional ₹50,000 deduction alone saves ₹15,000 in tax for those in the highest bracket.

What is the difference between SIP and lump sum in mutual funds?

SIP (Systematic Investment Plan): Fixed amount invested every month regardless of market level. Benefits from rupee cost averaging — you buy more units when market falls, fewer when it rises. Best for salaried individuals with regular monthly income.

Lump Sum: One-time large investment. Higher risk if market corrects immediately after investment. Better if you have a large surplus and research suggests markets are at a relatively low point.

Tax implication for SIPs: Each SIP instalment has its own holding period. Your January 2023 SIP may be LTCG-eligible in January 2024, but your December 2023 SIP will only become LTCG in December 2024. All must be calculated separately when you redeem.

🛡 Insurance — Detailed Guide & Comparison

Understanding Insurance in India — Which Type Do You Actually Need?

Insurance is the most misunderstood financial product in India. Most people are either over-insured in the wrong products (endowment plans with poor returns) or severely under-insured where it matters most (life cover and health). Here is a complete breakdown of every type — what it is, who needs it, and what to watch out for.

Insurance Type	What it covers	Who needs it	Key benefit	Tax saving	Common mistake to avoid
Term Life Insurance	Death benefit to family — pure protection, no savings component	Anyone with dependents, home loans, or financial liabilities	₹1 crore cover available for as low as ₹10,000-15,000/year. High cover at low cost.	80C deduction on premium paid	Buying endowment instead of term — much higher premium, far lower cover, poor investment returns
Health Insurance	Hospitalisation, surgery, ICU, and medical expenses	Everyone — absolutely mandatory	Cashless treatment at network hospitals. Covers critical illness. Portable across jobs.	80D — up to ₹25,000 for self + family (₹50,000 if parents are senior citizens)	Relying only on employer's group health insurance — inadequate cover, lapses when you change jobs
Family Floater Plan	Single policy covering entire family under one sum insured	Families with 2 or more members to cover	Cost-effective vs individual policies for each member. One premium, one renewal.	80D on premium paid	Sum insured too low — ₹5 lakh is insufficient in 2026. Minimum ₹15-25 lakh recommended.
Critical Illness Policy	Lump sum payment on diagnosis of specified illnesses — cancer, heart attack, stroke, kidney failure etc.	Anyone with family history of critical illness or high-stress lifestyle	Lump sum payout covers treatment cost + income loss during recovery — health insurance alone doesn't cover income loss	80D deduction on premium	Assuming regular health insurance covers everything — it doesn't cover income replacement during long illness
Endowment / ULIP	Life cover plus savings or investment component	Those wanting forced savings combined with life cover	Maturity amount paid after policy term. Returns on savings component.	80C on premium. ULIPs with premium above ₹2.5 lakh/year — maturity now treated as capital gains (IRDAI update)	Using as primary investment vehicle — returns are significantly lower than equity mutual funds over the same period
Business Insurance	Business assets, inventory, third-party liability, professional indemnity	All business owners — proprietors, firms, and companies	Protection against property damage, legal liability, theft, and business interruption	Insurance premium fully deductible as business expense	No business insurance at all — a single fire, flood, or liability case can wipe out years of accumulated profit
NRI Insurance	Life and health coverage for Non-Resident Indians and their Indian assets and family	All NRIs with Indian family, property, or financial interests in India	Coverage designed for NRI needs — repatriation benefits, India-specific coverage, and international health options	Premiums on Indian policies eligible for 80C/80D under Indian tax law if income is taxable in India	Not maintaining Indian health/life cover while abroad — family in India remains unprotected

How much life insurance cover do I actually need?

Most financial experts recommend a minimum of 10-15 times your annual income as your term life cover.

For someone earning ₹10 lakh per year — minimum ₹1 crore term insurance is the starting point.

Recommended cover = (Annual income × 15) + All outstanding loans (home, car, personal) + Children's education cost + Spouse's income replacement for 10 years

Most Indians are severely under-insured. FinSpyne's insurance agent will calculate your exact requirement based on your specific situation and find the most affordable term plan available in the market.

How does FinSpyne help with insurance claims?

The insurance claim process is stressful — especially during illness or death in the family. FinSpyne's dedicated insurance agent handles everything:

For health insurance claims: Cashless — our agent coordinates with the hospital and insurer directly. Reimbursement — we collect all bills, fill all required forms, submit to the insurer, and follow up until full settlement is received.

For life and term insurance claims: Our agent assists family members in gathering required documents (death certificate, policy document, ID proof), filling claim forms, submitting to the insurer, and following up until the claim amount is paid to the nominee.

Our promise: You take care of your loved one. Our agent handles all paperwork, all follow-up with the insurance company, and ensures your claim is settled faster and without unnecessary complications.📲 Need help with an insurance claim? WhatsApp us immediately →

📅 Compliance Deadline Calendar — FY 2026-27 (Tax Year 2026-27)

🔴 GST 🟢 ITR 🔵 TDS 🔸 ROC 🟠 Advance Tax

Month	Due Date	Description
April 2026	11 Apr	GSTR-1 for March 2026 (monthly filers)
	20 Apr	GSTR-3B for March 2026
	30 Apr	TDS payment for March 2026 deductions
May 2026	11 May	GSTR-1 for April 2026
	20 May	GSTR-3B for April 2026
	31 May	TDS Q4 Return FY 2025-26 — Form 26Q / 24Q
	31 May	Form 16 Part A issuance by employers to employees
June 2026	11 Jun	GSTR-1 for May 2026
	15 Jun	Advance Tax Q1 — 15% of estimated annual tax liability
	20 Jun	GSTR-3B for May 2026
	30 Jun	GSTR-4 Annual Return — Composition dealers FY 2025-26
July 2026	15 Jul	Form 16 Part B issuance by employers
	11 Jul	GSTR-1 for June 2026
	20 Jul	GSTR-3B for June 2026
	31 Jul	ITR filing deadline — Individuals, HUF, firms not requiring audit (Tax Year 2026-27)
	31 Jul	TDS Q1 Return Tax Year 2026-27 — Form 26Q / 24Q
August 2026	11 Aug	GSTR-1 for July 2026
	20 Aug	GSTR-3B for July 2026
September 2026	15 Sep	Advance Tax Q2 — 45% cumulative of estimated annual tax
	20 Sep	GSTR-3B for August 2026
	30 Sep	DIR-3 KYC — Annual Director KYC filing deadline for all directors
	30 Sep	ITR — Businesses requiring audit + partners of audit firms (Tax Year 2026-27)
October 2026	31 Oct	TDS Q2 Return Tax Year 2026-27 — Form 26Q / 24Q
	31 Oct	LLP Form 8 — Statement of Accounts and Solvency
November 2026	30 Nov	ITR — Transfer pricing cases (Tax Year 2026-27)
December 2026	15 Dec	Advance Tax Q3 — 75% cumulative of estimated annual tax
	31 Dec	Belated ITR / Revised ITR last date (Tax Year 2026-27)
January 2027	31 Jan	TDS Q3 Return Tax Year 2026-27 — Form 26Q / 24Q
February 2027	28 Feb	LLP Form 11 — Annual Return (within 60 days of financial year end)
March 2027	15 Mar	Advance Tax Q4 — 100% of estimated annual tax (final instalment)
	31 Mar	GSTR-9 Annual Return last date — FY 2025-26

Important — Tax Year 2026-27 terminology: Under the Income Tax Act 2025, "Assessment Year" and "Previous Year" are replaced by "Tax Year." Tax Year 2026-27 = income earned during the financial year 1 April 2026 to 31 March 2027. Compliance deadlines remain largely unchanged. FinSpyne will update this calendar as CBDT issues official circulars under the new Act.

📅 This compliance calendar will also be available in your individual FinSpyne profile — personalised to your taxpayer type (individual, business, or corporate) with automatic WhatsApp reminders before every deadline.

👤 Knowledge Centre — By Client Type

I am salaried with Form 16 — do I still need to file an ITR?

Yes — if your gross total income exceeds ₹2.5 lakh (₹3 lakh for senior citizens). Even if your employer has already deducted full TDS, you must file ITR to: claim refund of excess TDS, report other income (bank interest, capital gains, rental), maintain compliance record for loans and visas, and to carry forward capital losses.

From Tax Year 2026-27 under IT Act 2025 — ITR filing deadlines and requirements remain the same, just the terminology changes from AY to Tax Year.

Which ITR form should a salaried person file?

ITR-1 (Sahaj): Salary + one house property + other sources (FD interest). Income up to ₹50 lakh. Cannot use if you have capital gains, foreign assets, or business income. From FY 2024-25, ITR-1 can also be used if LTCG on equity is within ₹1.25 lakh exemption and has no carry-forward losses.

ITR-2: For all income except business/profession. Salary + multiple properties + capital gains (equity, property) + foreign assets + NRI income. FinSpyne files ITR-2 for most of our salaried clients with investments.

ITR-3: If you also have income from business or professional practice alongside salary.

Should I choose the old or new tax regime for FY 2025-26?

The right regime depends entirely on your income level and the value of your deductions. Use our Income Tax Calculator on this page to compare.

New regime is better if: You have few deductions. Income above ₹15 lakh with limited investments in 80C/80D products.

Old regime is better if: You have significant deductions — ₹1.5 lakh in 80C, health insurance premium (80D), home loan interest, HRA, and NPS contributions combined.

From Tax Year 2026-27: New regime becomes the default under IT Act 2025. You must actively opt for old regime when filing. Missing this opt-in means all your deductions are automatically lost for that year.

Which ITR form should a freelancer or self-employed professional file?

ITR-4 (Sugam): For freelancers opting for presumptive taxation under Section 44ADA. Tax computed on 50% of gross professional receipts — receipts up to ₹50 lakh. No need to maintain detailed books of accounts. Simpler and faster filing.

ITR-3: If your receipts exceed ₹50 lakh, you want to claim actual expenses, you have capital gains, or you have business income along with professional income.

FinSpyne recommends 44ADA for most freelancers as it significantly reduces compliance effort and cost.

Do I need GST registration as a freelancer?

Yes — if your annual freelance income from services exceeds ₹20 lakh (₹10 lakh in special category states).

If you serve international clients (exports): Your services are zero-rated under GST — you register under GST but do not charge GST to foreign clients. You can claim refund of any input GST paid on your business expenses. Many tech and creative freelancers with international clients benefit from this.

FinSpyne handles complete GST registration and monthly filing for freelancers — including zero-rated export services and LUT (Letter of Undertaking) filing.

What is the tax audit threshold for businesses?

Tax audit under Section 44AB is mandatory if business turnover exceeds ₹1 crore.

However — if cash receipts and cash payments are each less than 5% of total receipts/payments (effectively a mostly digital business), the threshold is raised to ₹10 crore.

For professionals, the audit threshold is ₹50 lakh gross receipts.

If you opt for presumptive taxation (44AD or 44ADA) but declare income below the prescribed minimum — tax audit is required regardless of turnover.

Can I deduct all my business expenses from income?

Yes — all expenses wholly and exclusively incurred for business purposes are deductible. This includes rent, salaries, internet and electricity, travel, professional fees, bank charges, depreciation on assets, and marketing expenses.

Key restrictions: Cash payments above ₹10,000 in a single day to a single person are not deductible (must pay digitally for larger transactions). Personal expenses mixed into business are not deductible.

FinSpyne's accounting service ensures all legitimate expenses are properly recorded, categorised, and claimed — reducing your tax liability while keeping you audit-ready.

What is the corporate tax rate for a Private Limited Company?

Companies opting for new regime (Section 115BAA): Flat 22% tax + 10% surcharge + 4% cess = effective rate of 25.17%. MAT (Minimum Alternate Tax) not applicable. Most deductions and exemptions not available.

New manufacturing companies (Section 115BAB): 15% + surcharge + cess = effective 17.01%. Only for new manufacturing companies incorporated after 1 October 2019.

Companies not opting for new regime: 30% base rate + surcharge + cess. Subject to MAT at 15% of book profit as the minimum tax payable.

What startup benefits and exemptions are available in India?

DPIIT-recognised startups can avail: Section 80-IAC — 100% tax holiday for any 3 consecutive years out of the first 10 years of incorporation (for profits). Angel Tax exemption — startup investments by recognised investors are exempt from Section 56(2)(viib) angel tax. Carry forward of losses — even if there is a change in shareholding (relaxation for startups). Capital gains exemption under Section 54GB — for individuals investing capital gains into a startup.

FinSpyne guides startups on DPIIT recognition, Startup India registration, and all available tax benefits from day one.

When does an NRI need to file income tax return in India?

An NRI must file ITR in India if:
• Indian income exceeds the basic exemption limit (₹2.5 lakh)
• Capital gains from Indian assets (equity, property) exceed the exemption limit
• Rental income from Indian property
• Interest from NRO accounts above exemption
• They want to claim refund of TDS deducted on Indian income

NRIs are taxed only on income earned or received in India. Foreign salary and income are not taxable in India for NRIs. DTAA (Double Taxation Avoidance Agreement) between India and your country of residence can also reduce your tax liability.

What is the difference between NRE and NRO accounts for tax purposes?

NRE (Non-Resident External): Interest earned is completely tax-free in India. Fully repatriable — can transfer money freely to your country of residence. Used for parking foreign earnings or remittances.

NRO (Non-Resident Ordinary): Interest earned is taxable in India at 30% (TDS deducted by bank). Used for Indian income — rent, dividends, salary from Indian employer. Repatriation possible up to USD 1 million per year with documentation.

FinSpyne handles complete NRI taxation — determining residential status, DTAA benefits, TDS refund claims, NRO to NRE transfer documentation, and repatriation compliance.

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