HRA exemption calculation formula, metro rates and old-regime rules

HRA Exemption Calculation (2026): Formula, 8 Metro Cities & Old-Regime Rules

HRA exemption is the smallest of three amounts — HRA received, rent minus 10% of salary, and 50% or 40% of salary by city. Worked examples, the 8-city list from FY 2026-27, and old-regime rules explained simply.

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Diwali gift tax guide: gifts from family are tax-free, gifts from friends above Rs 50,000 are taxable

Diwali Gift Tax (2026): Family Gifts Tax-Free, Friends’ Gifts Above Rs 50,000 Taxable

Diwali gifts from parents, siblings and in-laws are fully tax-free with no limit. Gifts from friends and cousins are tax-free only up to Rs 50,000 a year — cross it, and the whole amount is taxable. Here is how the rule works, with examples.

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Diwali bonus tax 2026 - employer gift Rs 15000 limit explained

Diwali Bonus Tax (2026): Is Bonus Taxable? Employer Gift Rs 15,000 Limit Explained

Diwali bonus is fully taxable as salary. Employer gifts in kind are tax-free only below Rs 15,000 in Tax Year 2026-27; cash gifts are fully taxable. Worked example, slab impact and FAQs.

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Missed tax audit deadline — Section 271B penalty, Section 273B relief and 21 November 2026 ITR date guide

Missed the Tax Audit Deadline? (21 Oct 2026): Section 271B Penalty and What to Do Now

Missed the 21 October 2026 tax audit report deadline? Here is how the Section 271B penalty works, when Section 273B reasonable cause saves you, and the exact steps to take before the 21 November ITR date.

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Income Tax Act 2025 complete guide — new section numbers, Tax Year and key changes

Income Tax Act 2025: Complete Guide — Key Changes, New Section Numbers & What It Means for You

The Income Tax Act 2025 replaces the 1961 Act from 1 April 2026 — 536 sections, a single Tax Year, and new section numbers (80C to 123, 87A to 156), with tax rates unchanged.

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