Income Tax Services — Expert CA Advisory Under the Income Tax Act, 2025
India's income tax framework has been comprehensively overhauled with the enactment of the Income Tax Act, 2025 and the notified Income Tax Rules, 2026, both effective from 1st April 2026. The new law replaces the Income Tax Act, 1961 and brings a modern, simplified, and consolidated direct tax framework — with the concept of a unified Tax Year, restructured provisions, schedule-based TDS rates, and plain-language drafting throughout.
At Gupta Chandan & Associates, our Chartered Accountants are fully updated with the Income Tax Act, 2025 and Income Tax Rules, 2026. We provide comprehensive income tax advisory, compliance, audit, and litigation services — ensuring your business and personal finances are fully aligned with the new law from day one.
Income Tax Act, 2025 & Rules, 2026 — What Has Changed?
The Income Tax Act, 2025 came into force on 1st April 2026, replacing the Income Tax Act, 1961 in its entirety. All references to sections, forms, rules, and procedures now refer to the new Act and the Income Tax Rules, 2026. Here is a summary of the most significant changes:
❌ Old Law (Repealed)
Income Tax Act, 1961
698 sections, dense legal language, separate concepts of "Previous Year" and "Assessment Year", scattered TDS provisions, complex provisos within provisos.
✅ New Law (In Force from 1.4.2026)
Income Tax Act, 2025 + Rules, 2026
Streamlined provisions, unified "Tax Year" concept, schedule-based TDS rates, plain-language drafting, formula and table-driven computation, fully digital-first compliance framework.
"Tax Year" — One Concept, No Confusion
The outdated dual system of "Previous Year" and "Assessment Year" is abolished. A single Tax Year now governs all compliance — Tax Year 2026-27 is the first Tax Year under the new Act.
New Default: New Tax Regime
The New Tax Regime is the default. Taxpayers must explicitly opt in to the Old Regime (where applicable) to claim Chapter VIII deductions (old chapter VI-A), HRA, and other exemptions.
Schedule-Based TDS Rates
All TDS and TCS rates are now consolidated into a single Schedule under the Act — making it significantly easier to identify the correct rate and threshold for each payment type.
Restructured Section Numbers
All section numbers have changed. Professionals, businesses, and taxpayers must update their compliance references — forms, challans, orders, and communications all carry new section citations.
Digital-First Compliance
The new Act mandates digital filing, electronic notices, and online assessments as the norm — with physical processes as the exception rather than the rule.
Strengthened Cross-Border Provisions
Transfer Pricing, BEPS-aligned provisions, Advance Rulings, and taxation of Virtual Digital Assets (VDAs) are consolidated and strengthened under the new Act.
Need help navigating the new Act? Our CAs have thoroughly studied the Income Tax Act, 2025 and Income Tax Rules, 2026. We help businesses and individuals transition smoothly — reviewing existing structures, updating compliance procedures, and advising on new obligations. Speak to a CA today →
Income Tax Slabs — Tax Year 2026-27
Under the Income Tax Act, 2025, Tax Year 2026-27 is the first year of compliance. The New Tax Regime is the default regime. Taxpayers may opt for the Old Regime (where available) to claim deductions under Chapter VIII and other exemptions:
✅ New Tax Regime — Default
No deductions (except std. deduction of ₹75,000 for salaried)
| Income Slab | Rate |
|---|---|
| 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% |
* Rebate available — net tax nil if total income ≤ ₹12,00,000. Surcharge & 4% cess applicable above threshold.
📋 Old Tax Regime — Opt-in
Allows deductions: 123, 126, HRA, home loan interest, LTA etc.
| Income Slab | Rate |
|---|---|
| Up to ₹2,50,000 | Nil |
| ₹2,50,001 – ₹5,00,000 | 5% |
| ₹5,00,001 – ₹10,00,000 | 20% |
| Above ₹10,00,000 | 30% |
* Rebate available — net tax nil if total income ≤ ₹5,00,000. Surcharge & 4% cess applicable above threshold.
Which regime suits you? The answer depends on your income level, investments, home loan, and eligible deductions. Our CAs compute your liability under both regimes and recommend the most tax-efficient option for Tax Year 2026-27. Get a free tax comparison →
Surcharge (Tax Year 2026-27): 10% on income ₹50L–₹1Cr | 15% on ₹1Cr–₹2Cr | 25% on ₹2Cr–₹5Cr | 37% on above ₹5Cr (Old Regime) / max 25% (New Regime). Health & Education Cess: 4% on tax + surcharge for all taxpayers.
Our Income Tax Services — Tax Year 2026-27
We offer the full spectrum of income tax compliance, advisory, and litigation services under the Income Tax Act, 2025 — for individuals, HUFs, firms, LLPs, companies, trusts, and foreign entities operating in India:
Income Tax Return (ITR) Filing
Accurate and timely filing of ITRs for all categories of taxpayers under the new Act — including verification, rectification, and revised return filing.
View ITR Filing Service →TDS / TCS Return Filing
Quarterly TDS return filing, TCS returns, TDS certificate issuance, and TRACES reconciliation under the new Schedule-based TDS framework of the 2025 Act.
View TDS Filing Service →Tax Advisory & Planning
Structured tax planning for individuals and businesses — regime selection, advance tax estimation, investment advisory, and year-round proactive tax management.
Enquire →Tax Audit
Statutory tax audit under the Income Tax Act, 2025 for businesses and professionals crossing the prescribed turnover threshold — including audit report preparation and filing.
Enquire →CA Certificates
Chartered Accountant certificates under various provisions — Form 145/146 for foreign remittances, lower deduction certificates, net worth certificates, and others.
Enquire →Registrations Under Income Tax Act
TAN registration, 332/354 registration for NGOs and trusts, approval for scientific research organisations, and other registrations under the new Act.
Enquire →Income Tax Notices & Scrutiny
Expert representation in response to income tax notices, limited scrutiny, complete scrutiny assessments, and reassessment proceedings under the new Act.
Enquire →Income Tax Appeals
Filing and arguing appeals before the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal (ITAT) — from drafting to hearing.
Enquire →Cross-Border Tax & Transfer Pricing
International tax advisory, DTAA analysis, Transfer Pricing study reports, Form 48 certification, and BEPS compliance for MNCs and group entities.
Enquire →Advance Ruling
Assistance in filing applications before the Board for Advance Rulings (BAR) for pre-transaction certainty on income tax treatment under the new Act.
Enquire →Tax Advisory, Tax Audit & CA Certificates
Beyond return filing, sound tax management under the Income Tax Act, 2025 requires proactive advisory, statutory audit compliance, and obtaining CA-certified documents for a range of transactions.
🧠 Tax Advisory & Planning
Effective tax planning is not just about saving tax — it is about structuring your income, investments, and business transactions in a legally optimal manner. Our advisory covers:
New vs Old Regime
Regime Optimisation
We compute your precise tax liability under both regimes for Tax Year 2026-27 and recommend the most beneficial option based on your income profile and deductions.
Advance Tax
Advance Tax Estimation
If your estimated tax liability exceeds ₹10,000 in a Tax Year, advance tax is mandatory in four instalments. We project your liability and ensure timely payment to avoid interest under the new Act.
Deductions & Investments
Deduction Planning (Old Regime)
Strategic guidance on maximising Chapter VIII deductions — 123 (₹1.5L limit), 126, 124(3) NPS (₹50K additional), 354, home loan interest, and HRA exemptions.
Capital Gains
Capital Gains Tax Planning
Timing and structuring of asset disposals to minimise STCG and LTCG tax. Listed equity LTCG taxed at 12.5% above ₹1.25L; STCG at 20%. Reinvestment under new Act provisions for exemption.
Business Structuring
Entity & Structure Advisory
Comparative tax analysis across business structures — proprietorship, partnership, LLP, and company — to determine the most tax-efficient structure for your business under the new Act.
Salary Structuring
Salary & CTC Optimisation
Designing tax-efficient salary packages for employees and directors — optimising allowances, perquisites, and reimbursements within the framework of the Income Tax Act, 2025.
🔍 Tax Audit Under Income Tax Act, 2025
Statutory tax audit is mandatory under the Income Tax Act, 2025 when business or professional turnover / gross receipts exceed prescribed thresholds. Our empanelled CAs conduct audits, prepare the audit report, and file it electronically:
| Category | Threshold | Applicable Provision |
|---|---|---|
| Business (General) | Turnover exceeds ₹1 Crore | Income Tax Act, 2025 (Tax Audit provisions) |
| Business — Digital Transactions | Turnover exceeds ₹10 Crore (if cash <5%) | Income Tax Act, 2025 |
| Profession | Gross receipts exceed ₹50 Lakh | Income Tax Act, 2025 |
| Presumptive Scheme — Business | Income declared below presumptive rate | Income Tax Act, 2025 |
| Presumptive Scheme — Profession | Income declared below presumptive rate | Income Tax Act, 2025 |
The tax audit report must be filed on or before 31st October of the relevant Tax Year. Failure to get accounts audited attracts a penalty of 0.5% of turnover or ₹1,50,000 — whichever is lower.
📜 CA Certificates & Statutory Certifications
Form 145 & 146
Mandatory for foreign remittances under the Act. 146 is the CA certificate; 145 is the online declaration. Required for payments to non-residents exceeding prescribed limits.
Lower / Nil Deduction Certificate
CA-assisted application to the Assessing Officer for a certificate authorising deduction of TDS at a lower rate or nil rate where income is below taxable threshold.
Net Worth Certificate
CA-certified net worth statement — required for visa applications, bank loans, tenders, and regulatory filings under various laws.
Turnover / Income Certificate
CA-certified turnover or income certificate required for government contracts, MSME registration, loan applications, and other commercial purposes.
Form 112 — Trust Audit
Audit report in Form 112 (larger trusts) or (smaller trusts / institutions) for entities claiming exemption under the Income Tax Act, 2025.
Transfer Pricing Certificate — Form 48
Accountant's report certifying international transactions and specified domestic transactions with associated enterprises under the transfer pricing provisions of the new Act.
Need a CA certificate or tax audit? Contact us with your requirement and we will revert with the scope of work and turnaround time. Contact us →
Registrations Under the Income Tax Act, 2025
Several registrations and approvals under the Income Tax Act, 2025 are mandatory for specific entities or are essential for availing tax exemptions and benefits. We assist with obtaining and renewing all such registrations:
TAN — Tax Deduction Account Number
Every person required to deduct TDS or collect TCS must obtain a Tax Deduction and Collection Account Number (TAN) under the Income Tax Act, 2025 before making the first deduction.
Registration for Exemption — Trusts & Institutions
Charitable trusts, religious institutions, and NPOs seeking exemption under the Income Tax Act, 2025 must apply for registration under the applicable provisions for Tax Year 2026-27 onwards.
354 Approval — Donation Deduction
Institutions with 354 approval allow donors to claim deduction on donations. We assist in fresh applications and renewals under the new Act's consolidated approval framework.
Scientific Research Approval
Approval for companies, institutions, and universities conducting scientific research — allowing them to receive contributions eligible for weighted deduction under the new Act.
Startup Tax Exemption Registration
DPIIT-recognised startups may apply for income tax exemption on profits for three consecutive Tax Years under the provisions of the Income Tax Act, 2025.
Registration of Political Parties
Political parties seeking exemption from income tax on certain receipts must be registered under the Income Tax Act, 2025 and comply with the prescribed disclosure and audit requirements.
PAN for Non-Residents & Foreign Entities
Foreign companies, NRIs, and non-resident entities required to file returns or claim treaty benefits in India must obtain a PAN under the Income Tax Act, 2025.
Approved Funds & Pension Funds
Sovereign wealth funds, pension funds, and investment vehicles seeking exemption from capital gains or income tax under the new Act must obtain requisite approval.
All registrations under the Income Tax Act, 2025 are processed through the Income Tax e-Filing portal. We prepare the application, compile supporting documents, and follow up for timely grant. Contact us →
Income Tax Notices, Scrutiny & Appeals
Under the Income Tax Act, 2025, the tax department issues notices through the centralised Faceless Assessment and Appeal systems. Receiving a notice can be stressful — but with experienced CA representation, most notices can be resolved smoothly and without litigation.
⚠️ Common Notices Under the Income Tax Act, 2025
Processing Notice
Intimation u/s Processing
Intimation after return processing — may show tax demand, refund, or confirmation of filed return. Review carefully before paying any demand.
Defective Return
Defective Return Notice
Issued when the ITR is incomplete or inconsistent. Must be responded to within 15 days or the return is treated as invalid.
Limited Scrutiny
Limited Scrutiny Notice
Issued for specific mismatches — such as high-value transactions, mismatch in Form 26AS, or discrepancies with third-party data. Scope is limited to the issue cited.
Complete Scrutiny
Complete Scrutiny Assessment
Full examination of all income, expenses, and claims in the return. Conducted by the Faceless Assessment Unit. Requires thorough documentation and representation.
Reassessment
Reassessment / Reopening
Reopening of a previously assessed return on the basis of new information or escaped income. Under the new Act, the time limit and conditions for reopening have been significantly reformed.
Demand Notice
Tax Demand Notice
Issued when tax payable exceeds tax paid. Demands carry interest and must be paid or disputed within the stipulated time to avoid coercive recovery.
🏛️ Income Tax Appeals — From Assessment to High Court
If you disagree with an assessment order or demand, you have a statutory right to appeal. We represent clients at every stage of the appellate hierarchy:
Faceless Assessment Order
The starting point — an order passed by the National Faceless Assessment Centre (NFAC) under the Income Tax Act, 2025. Demand, additions, or disallowances arise here.
Commissioner of Income Tax (Appeals) — CIT(A)
First appellate authority. Appeal must be filed within 30 days of receiving the assessment order. We prepare the grounds of appeal, written submissions, and present the case.
Income Tax Appellate Tribunal — ITAT
Second appellate authority — a quasi-judicial body. ITAT orders are final on questions of fact. We draft the memorandum of appeal and appear before the Bench.
High Court — Substantial Question of Law
Appeals lie to the jurisdictional High Court only on substantial questions of law. We coordinate with senior counsel and prepare the statement of case for High Court proceedings.
Supreme Court
Final appellate court for income tax matters of constitutional or public importance. We advise on the viability of Supreme Court appeals and assist with Special Leave Petitions (SLPs).
Penalty under the Income Tax Act, 2025: Concealment of income or furnishing inaccurate particulars attracts a penalty of 50% to 200% of tax sought to be evaded. Prosecution provisions are also retained and strengthened under the new Act.
Received a notice or adverse order? Act promptly — most notices carry strict response deadlines under the Income Tax Act, 2025. Contact us immediately and our CA team will review the notice and advise you within 24 hours. Contact us now →
Cross-Border Taxation, Transfer Pricing & Advance Ruling
The Income Tax Act, 2025 consolidates and strengthens India's international tax framework — aligning it with OECD BEPS standards and India's extensive DTAA network. Businesses with cross-border transactions require specialised CA expertise in these areas.
🌐 International Tax & Cross-Border Services
DTAA
Double Taxation Avoidance Agreement Advisory
Analysis of applicable DTAA between India and the relevant country to determine residency, source rules, reduced withholding rates, and exemptions available to NRIs and foreign entities.
Non-Residents
Taxation of Non-Residents & Foreign Companies
Advisory on taxability of business income, royalties, fees for technical services, capital gains, and interest income of non-residents and foreign companies under the new Act and applicable DTAA.
Foreign Remittances
145 / 146 — Foreign Remittance Compliance
Mandatory CA certification (Form 146) and online filing (Form 145) for remittances to non-residents under the Income Tax Act, 2025 — covering payments for services, dividends, royalties, and capital account transactions.
BEPS
BEPS Compliance & GAAR
Guidance on India's BEPS-aligned provisions — Country-by-Country Reporting (CbCR), Master File, Local File, and the General Anti-Avoidance Rule (GAAR) provisions under the Income Tax Act, 2025.
POEM
Place of Effective Management (POEM)
Advisory on POEM determinations for foreign companies with significant India connections — ensuring correct residency classification under the Income Tax Act, 2025.
Repatriation
NRI Repatriation & Tax Advisory
End-to-end advisory for NRIs on repatriation of funds, sale of Indian assets, FEMA compliance, and applicable DTAA benefits — coordinated with our FEMA and banking advisory practice.
📊 Transfer Pricing Study & Compliance
Any Indian company or entity entering into international transactions or specified domestic transactions with associated enterprises must comply with Transfer Pricing (TP) regulations under the Income Tax Act, 2025. Our TP services include:
TP Study Report
Comprehensive economic analysis establishing arm's length price for each international transaction with associated enterprises.
Form 48 Certification
Mandatory CA-certified accountant's report in Form 48 disclosing international and specified domestic transactions — due 31st October of the Tax Year.
TP Documentation
Master File, Local File, and transaction-wise documentation as required under the Income Tax Rules, 2026 — maintained and ready for audit.
TP Audit & Disputes
Representation before Transfer Pricing Officers (TPOs), DRP (Dispute Resolution Panel), and ITAT's dedicated TP Benches for TP adjustments and litigation.
APA — Advance Pricing Agreement
Assistance in applying for Unilateral, Bilateral, or Multilateral APAs with the competent authority to secure TP certainty for future transactions.
📮 Advance Ruling — Pre-Transaction Certainty
The Income Tax Act, 2025 provides for Advance Rulings through the Board for Advance Rulings (BAR) — allowing taxpayers to obtain binding clarification on the income tax treatment of a proposed transaction before it is entered into.
Who Can Apply
Eligible Applicants
Non-residents, residents with international transactions, public sector companies, and any resident with a transaction value above the prescribed threshold can apply for an advance ruling under the new Act.
Why It Matters
Benefits of Advance Ruling
Eliminates tax uncertainty for complex or high-value transactions. A ruling is binding on the applicant and the tax department — providing certainty for investment decisions, M&A, and restructurings.
Our Role
Our Advisory & Filing Support
We assess whether an advance ruling application is suitable, prepare the application with full legal and factual analysis, and assist in presenting arguments before the Board for Advance Rulings.
For international tax, transfer pricing, or advance ruling requirements, early engagement is critical. Contact us to discuss your situation and we will advise on the most appropriate approach under the Income Tax Act, 2025. Contact us →
Why Choose Gupta Chandan & Associates?
We are a New Delhi-based Chartered Accountancy firm providing specialised income tax services under the Income Tax Act, 2025 — for individuals, businesses, NRIs, and multinational groups operating in India.
New Act Ready
Our team has thoroughly studied the Income Tax Act, 2025 and Income Tax Rules, 2026 — we advise and comply under the new law from day one, not the old one.
Full-Spectrum Practice
From simple ITR filing to complex TP studies, ITAT appeals, and advance rulings — our multi-disciplinary team handles every income tax matter in-house.
Deadline Driven
We track every due date — ITR, TDS, audit reports, Form 48, advance tax instalments — and ensure you never face avoidable penalties or interest.
International Tax Expertise
DTAA analysis, transfer pricing, Form 145/146, BEPS compliance, and NRI taxation — we handle India's most complex cross-border tax requirements.
Notice to Resolution
From the moment you receive a notice to the final order — we handle the entire lifecycle: drafting responses, submissions, hearings, and appeals if needed.
Confidential & Professional
All financial data and tax documents are handled with complete confidentiality, professional discretion, and strict adherence to CA ethics and ICAI standards.
Need Income Tax Assistance Under the New Act?
Whether you need tax advisory, an audit report, a CA certificate, help with a notice, or transfer pricing documentation under the Income Tax Act, 2025 — our team is ready to help.
ITR Filing → | TDS Return Filing → | All Services → | [email protected]
