15/05/2026
π’ MAJOR UPDATE β New Income Tax Act 2025 is here!
Effective 01.04.2026 β here are the 7 BIG changes every salaried employee, business owner and finance professional must know π
1οΈβ£ HRA RULES UPDATED
Hyderabad, Bengaluru & Pune are now metro cities. Higher HRA exemption for employees in these cities. Landlord PAN mandatory if rent > βΉ1 lakh/year.
2οΈβ£ BIG ALLOWANCE HIKES
π Children Education: βΉ100 β βΉ3,000/month
π« Hostel Allowance: βΉ300 β βΉ9,000/month
π½οΈ Meal Allowance: βΉ100 β βΉ200/meal
π Festival Gift: βΉ5,000 β βΉ15,000/year
βΏ Transport (Disabled): βΉ8,000 β βΉ15,000/month
3οΈβ£ ITR DUE DATES CHANGED
β’ Salaried β 31st July 2026
β’ Freelancers/Professionals β 31st Aug 2026
β’ Audit Cases β 31st Oct 2026
β’ Transfer Pricing β 30th Nov 2026
4οΈβ£ REVISED RETURN DEADLINE EXTENDED
Revised return: up to 31st March 2027 (3 months more!)
Belated return: up to 31st December 2026
Late fees still apply: βΉ1,000ββΉ5,000
5οΈβ£ CAR PERQUISITE LIMITS REVISED
π Below 1600cc: βΉ1,800 β βΉ5,000/month
π Above 1600cc: βΉ2,400 β βΉ7,000/month
π¨ββοΈ Driver Allowance: βΉ900 β βΉ3,000/month
6οΈβ£ TAX FORMS RENAMED
β’ Form 16 β Form 130
β’ Form 26AS β Form 168
β’ Form 15G/15H β Form 121
β’ Tax Audit Forms β Form 26
7οΈβ£ NEW TAX REGIME β βΉ12.75 LAKH EFFECTIVELY TAX-FREE
βΉ12 lakh zero tax (Rebate 87A) + βΉ75,000 standard deduction = βΉ12.75 lakh tax-free for salaried employees.
β οΈ But remember β HRA, 80C, 80D & most deductions NOT available under new regime.
π‘ This is not just a tax update β it's a complete compliance transformation.
Swipe through all 9 slides for the full breakdown π
Need help navigating the new IT Act? We've got you covered.
π± +91 99520 26713
π§ [email protected]
π Perambur, Chennai
HRAExemption TaxSlab NewTaxRegime Form16 TDSUpdate TaxCompliance TaxUpdatesWithBhuvanesh ACMEAccountingAndTaxSolutions ChennaiCA ITR2026 TaxSavings FinanceUpdate SalariedEmployees PayrollUpdate IndianTax TaxIndia FY2627 TaxFiling IncomeTaxIndia TaxTips 80C StandardDeduction