What is the standard deduction for salaried individuals in FY 2026-27?

Under the new tax regime, the standard deduction for salaried employees and pensioners is ₹75,000. Under the old tax regime, it remains ₹50,000.

What is the deadline for filing Income Tax Returns (ITR) for non-audit individuals?

For non-audit individual taxpayers, the statutory deadline to file the Income Tax Return for an Assessment Year is typically 31st July of the assessment year.

How is GST calculated on goods and services?

GST is calculated by applying the prescribed slab rate (0%, 5%, 12%, 18%, or 28%) to the net taxable supply value of goods or services.

What is Section 87A tax rebate?

Section 87A provides a rebate to resident individuals if their total taxable income does not exceed ₹7,00,000 under the New Tax Regime, making their payable tax zero.

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Featured Video Income Tax & Slabs Aug 28, 2026

Mastering Income Tax Computation: From Gross Salary to Net Tax Payable

A comprehensive visual walkthrough explaining how taxable income is assessed in India for FY 2025–26. Learn the step-by-step breakdown of standard deduction (₹75,000), HRA exemptions, Section 87A tax rebate, and how to accurately compute your final tax bill.

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