A blank AIS is not a clean AIS
Futures and options trades often do not show up in your AIS. That empty space feels safe, but leaving the income out of your return is what triggers the notice.
194C is gone. Find its new code.
From 1 April 2026, every TDS and TCS section of the 1961 Act lives inside sections 392, 393 and 394 of the Income Tax Act 2025, and your returns need a four digit payment code. Search any old section, code or payment type.
The return forms changed too
| Old form | New form | Used for |
|---|---|---|
| 24Q | 138 | TDS on salary |
| 26Q | 140 | Other TDS, residents |
| 27Q | 144 | TDS, non residents |
| 27EQ | 143 | TCS |
| Form 16 | 130 | Salary TDS certificate |
| Form 16A | 131 | Other TDS certificate |
Old references with no new home
206C(1H), TCS on sale of goods, has no row in the section 394 table. The buyer side TDS (old 194Q, code 1031) covers these purchases.
206AB and 206CCA, higher TDS and TCS for non filers, are not carried into the new Act.
194IA, 194IB, 194M and 194S paid by individuals have no payment code in the quarterly return forms. These are deposited through a challan cum statement, as with the old 26QB, 26QC, 26QD and 26QE.
Payments made up to 31 March 2026 still go in the old forms with old section numbers, even if the return is filed later.
Codes follow the notes to Forms 138, 140, 143 and 144 under the Income Tax Rules 2026. Rates and thresholds are not shown here; check the Act table for each row.
Old or new regime, in ten seconds
Tax Year 2026–27 slabs are the same as last year. Enter your numbers and see which regime leaves more in your pocket.
Old or new regime?
Compare your tax for Tax Year 2026–27. Individuals below 60, resident.
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PF, PPF, ELSS, life and health insurance, NPS, home loan interest, HRA exemption.
New regime
₹0Old regime
₹0Includes 4% cess and surcharge above ₹50 lakh (marginal relief on surcharge not applied). An estimate for planning, not advice for your specific case.
Things taxpayers miss until a notice arrives
A few of the hidden problems we have covered. Each one looks harmless on paper and costs real money later.
Your father's purchase price becomes yours
A house gifted by a parent is tax free to receive. When you sell it, the original cost and holding period carry over, and so can a large capital gains bill.
Switching plans is a sale
Moving from regular to direct, or from growth to IDCW, is treated as redeeming one unit and buying another. Capital gains tax applies even though no money left the fund house.
The wrong form quietly deletes your losses
File ITR 1 when you have capital losses and there is nowhere to report them. The loss you could have carried forward for eight years simply disappears.
Written for three kinds of readers
Salaried taxpayers
Regime choice, HRA, capital gains on shares and funds, and the mismatches that cause refund delays.
Business owners
GST compliance, advance tax, cash transaction limits and the paperwork banks and departments expect.
Chartered Accountants
New Income Tax Act section mapping, CBDT circulars and practical points from filing season.
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About Taxology India
Taxology India is a knowledge portal with one objective: making complex things simple.
Our focus is financial literacy, and the portal is run by a team of professionals who work with tax, audit and compliance every day. We write about the rules the way they actually play out: in notices, in mismatched statements, in refunds that get stuck, and in deadlines that are easy to miss.
Most tax content tells you what the law says. We try to show you what it means for your money, and what usually goes wrong before anyone notices. If a rule can quietly cost you, we want you to hear about it from us first, not from a notice.
What we cover
Income tax for salaried people, investors and traders, GST for businesses, the move from the Income Tax Act 1961 to the Income Tax Act 2025, capital gains, TDS and TCS, and everyday personal finance decisions like choosing a tax regime or planning a property sale.
How we work
Every update is read against the Act, the rules and the official circulars before it is published. We explain in plain language, use real examples instead of jargon, and update our tools when the law changes.
Where to find us
Daily updates go out on X, Instagram, LinkedIn and our WhatsApp Channel, with video explainers on YouTube. This website brings together the tools and guides you will want to come back to, starting with the TDS and TCS code finder.