Pillar 11
Tax Concepts
Taxes are confusing because the language is technical and the rules change yearly. This section explains the underlying concepts: what tax slabs are, what deductions and credits do, what capital gains tax is, what HRA exemption means in India, what FICA tax funds in the US. These are definitional explainers, not filing advice. For your specific tax situation, consult a qualified Chartered Accountant in India or a Certified Public Accountant in the US.
19 articles
Section 80E has no upper limit, which is the part everyone quotes. It also sits outside the default tax regime, so on ₹15 lakh income claiming it can cost ₹66,300 more than skipping it.
12 min read
Gold ETFs turn long-term at 12 months, physical and digital gold at 24. SGBs stopped being issued in 2024, and SEBI says digital gold has no investor protection.
10 min read
Form 121 replaced Forms 15G and 15H on 1 April 2026. Almost every page says age no longer matters. The Act says otherwise, in a Note most coverage never reached.
17 min read
Ask the ranking pages what 80C became and you get 123, 100, 150 and 150-155. This is the map, read from the gazetted Act, with the derived rows marked as derived.
14 min read
TRACES offers Form 26AS as Excel already, so most people never need to convert. If you do, one step decides whether the result is usable. Plus what changes when it becomes Form 168.
13 min read
The AIS PDF password is your PAN in lowercase plus date of birth as DDMMYYYY. Form 26AS uses a different rule, and both merge into Form 168.
17 min read
The Form 26AS password is your date of birth as DDMMYYYY, the same for PDF, text and Excel. PAN plus date of birth is a different form entirely.
17 min read
Which Act governs the return you file this July, the FY 2025-26 slabs and Rs 60,000 rebate, and the 30-day e-verification rule that quietly makes returns late.
28 min read
GST is India's unified indirect tax. The new GST 2.0 rates from 22 September 2025 (nil/5/18/40%), CGST vs SGST vs IGST, input tax credit, and registration.
15 min read
FICA is the US payroll tax funding Social Security and Medicare. What Fed OASDI/EE and Fed MED/EE mean on your paycheck, the 2026 rate, and the wage base.
12 min read
A deduction cuts taxable income, a credit cuts tax owed. The TY2026 amounts, what OBBBA actually changed, and why India has no itemizing.
16 min read
A plain-English guide to the core tax concepts in India and the US: slabs, deductions, TDS, GST, capital gains, FICA, plus what the Income-tax Act 2025 renames.
17 min read
Marginal vs effective tax rate explained: the tax on your next rupee versus total tax over total income, with worked India and US examples and the bracket myth.
13 min read
TDS is tax withheld from your salary, interest, and rent. The FY 2025-26 section rates and thresholds, what Budget 2025 changed, and how TDS differs from TCS.
15 min read
Form 16 becomes Form 130 from Tax Year 2026-27, and a different Form 16 now certifies research donations. Plus the password, Part A vs Part B, and filing without it.
19 min read
Capital gains tax in India and the US: short vs long-term rates, the 12.5% LTCG and ₹1.25 lakh exemption, the US 0/15/20% brackets, and why a sale today is under new sections.
18 min read
Section 80C cuts up to ₹1.5 lakh off taxable income for PPF, ELSS, LIC, EPF and more, under the old regime only. The list, the limit, and where it lands as Section 123.
15 min read
Eight cities now get the 50% HRA rate, but only from FY 2026-27. See which year uses which list, the three-part formula, and when 50% changes nothing.
14 min read
Income tax slabs in India for FY 2025-26 (AY 2026-27): new and old regime rates, the ₹12.75 lakh salaried zero-tax point, the 87A rebate, surcharge, and cess.
13 min read