What documents do I need to bring for my Income Tax Return (ITR) filing?

You primarily need your PAN card, Aadhaar card, Form 16/16A (if salaried), bank statements for the entire financial year, AIS/Form 26AS, and details of any interest income, stock transactions, or investment deductions.

Who is required to obtain GST registration in Khammam, Telangana?

Businesses dealing in goods with an annual turnover exceeding ₹40 Lakhs (or ₹20 Lakhs for services in Telangana) must register for GST. Voluntary registration is also beneficial for claiming Input Tax Credit (ITC) and inter-state trade.

How long does it take to register a Private Limited Company or LLP?

Company incorporation usually takes 5 to 7 working days, subject to MCA portal approval. It includes name reservation, Digital Signature Certificates (DSC), SPICe+ form submission, PAN/TAN issuance, and bank account setup.

Statutory Master Directory•Updated: August 2026•9 Statutory Domains

Tax Slabs & Statutory Compliance Schedules

Comprehensive reference tables for Income Tax, GST, TDS, Professional Tax, and other statutory rates applicable for Tax Year 2026-27 (Income-tax Act, 2025 & FY 2025-26 FY 2024-25 1961 Act comparative).

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Active LawIncome-tax Act, 2025 (Section 202(1) Widened 4-Lakh Slabs)

Statutory Codification Notice (Act No. 30 of 2025)The rates and schedules presented below incorporate the statutory framework of the Income-tax Act, 2025 (applicable w.e.f. 1st April, 2026 for Tax Year 2026-27) alongside the Income-tax Act, 1961 for prior financial years, and the GST 2.0 rate reforms. Dual-act references provide complete transparency across section migrations for filing, assessment, and tax planning.

Direct Tax Framework

Section 202(1) Widened Default Tax Slabs (Tax Year 2026-27)

Universal single slab structure applying across all age categories under the Income-tax Act, 2025 (4-Lakh interval slabs).

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Key Takeaways for Tax Year 2026-27 (Act No. 30 of 2025)

Salaried Taxpayers

₹0 Tax up to ₹12.75L

Gross salary of ₹12,75,000 minus ₹75,000 standard deduction under Sec 19(1) leaves ₹12,00,000 net taxable income, covered 100% by Sec 156(2) rebate.

Non-Salaried & Business

₹0 Tax up to ₹12.00L

Professionals, business owners, and freelancers pay zero income tax on net taxable income up to ₹12,00,000 via statutory ₹60,000 rebate.

Marginal Relief Protection

Income ₹12L to ₹12.75L

Sec 156(2) guarantees you never pay more tax than the excess income earned over ₹12 Lakh. Tax on ₹12.1L is strictly ₹10,000 (not ₹61,500).

Default Tax Regime — Section 202(1)

Standard Deduction: ₹75,000 under Section 19(1) Table Sl. No. 2

Zero Tax up to ₹12,75,000 for Salaried

Tier 1

Up to ₹4,00,000

NIL (0%)

Tier 2

₹4,00,001 to ₹8,00,000

5% Tax

Tier 3

₹8,00,001 to ₹12,00,000

10% Tax

Tier 4

₹12,00,001 to ₹16,00,000

15% Tax

Tier 5

₹16,00,001 to ₹20,00,000

20% Tax

Tier 6

₹20,00,001 to ₹24,00,000

25% Tax

Tier 7

Above ₹24,00,000

30% Tax

Full Tax Rebate under Section 156(2)

Resident individuals with taxable income up to ₹12,00,000 receive a 100% tax rebate of up to ₹60,000. When combined with the flat ₹75,000 standard deduction under Section 19(1), gross salary up to ₹12,75,000 incurs zero income tax liability.

Statutory Marginal Relief Formula

For taxable incomes marginally exceeding ₹12,00,000 (up to ₹12.75 Lakh), statutory marginal relief guarantees that total tax payable will not exceed the income exceeding ₹12,00,000:Tax Payable = Math.min(TaxBeforeRebate, TaxableIncome - 1200000)

Surcharge & Cess Matrix (Section 202(1) Default)

₹50L to ₹1 Crore

10% Surcharge

₹1 Crore to ₹2 Crore

15% Surcharge

Above ₹2 Crore

25% Surcharge (Capped)

Health & Education Cess

4% on (Tax + Surcharge)

Statutory Evolution: Prior Law (Act 1961) vs. Current Law (Act 2025)

Direct comparison explaining the structural shift from ₹3-Lakh intervals to ₹4-Lakh intervals

Slab Restructuring Analysis

Prior Law (Act 1961)

Section 115BAC (3-Lakh Intervals)

FY 2024-25 & 2025-26

₹0 to ₹3,00,000NIL (0%)

₹3,00,001 to ₹7,00,0005%

₹7,00,001 to ₹10,00,00010%

₹10,00,001 to ₹12,00,00015%

₹12,00,001 to ₹15,00,00020%

Above ₹15,00,00030%

Section 87A Rebate: Up to ₹25,000 (Zero tax up to ₹7.75L for salaried with ₹75k std ded).

Current Law (Act 2025)

Section 202(1) (4-Lakh Intervals)

Tax Year 2026-27 Onwards

₹0 to ₹4,00,000NIL (0%)

₹4,00,001 to ₹8,00,0005%

₹8,00,001 to ₹12,00,00010%

₹12,00,001 to ₹16,00,00015%

₹16,00,001 to ₹20,00,00020%

₹20,00,001 to ₹24,00,00025%

Above ₹24,00,00030%

Section 156(2) Rebate: Up to ₹60,000 (Zero tax up to ₹12.75L for salaried with ₹75k std ded).