Question 1

What is the corporate tax rate for 2026?

Accepted Answer

Domestic companies: 22% under section 115BAA (no exemptions) or 25% / 30% under the old regime depending on turnover. New manufacturing companies: 15% under section 115BAB subject to conditions.

Question 2

When is advance tax due?

Accepted Answer

Four instalments: 15% by 15 June, 45% by 15 Sept, 75% by 15 Dec, 100% by 15 March. Shortfalls attract interest under sections 234B and 234C.

Question 3

TDS on salary vs contractor?

Accepted Answer

Salary: section 192 at applicable slab. Contractor / professional: section 194C (1%/2%) / 194J (10%/2%). TDS is deposited by 7th of following month and returns filed quarterly.

Question 4

When is Tax Audit u/s 44AB applicable?

Accepted Answer

Business turnover above Rs1Cr (Rs10Cr if digital transactions exceed 95%). Profession gross receipts above Rs50L. Audit report in Form 3CA / 3CB plus 3CD by 30 September.

Question 5

What triggers an income tax notice?

Accepted Answer

Mismatch with AIS/TIS, high-value transactions, refund discrepancies, non-filing, GST vs ITR mismatch, and risk-based AI scrutiny under sections 143(1), 143(2), 148.

Income Tax Advisory & TDS Compliance for Indian SMEs

What we deliver

Frequently Asked Questions

Related services

Guides & Resources

Ready to get started?