MCAFiling Blog — Compliance Guides for Indian Businesses

Income Tax

Section 115BAA: 22% Corporate Tax Rate for Domestic Companies (Explained)

Section 115BAA offers 22% tax (effective 25.17% with surcharge) for domestic companies foregoing exemptions. Eligibility, opt-in process, comparison.

24 Apr 2026 6 min read

Income Tax

Section 80-IAC: Startup India 3-Year Tax Holiday (Eligibility & Process)

100% tax exemption for 3 consecutive years out of 10 for eligible startups. Eligibility criteria, application process via DPIIT, common mistakes.

22 Apr 2026 5 min read

Income Tax

Section 44AD: Presumptive Taxation for Small Businesses (8%/6% scheme)

Section 44AD allows small businesses to declare 8% (cash) / 6% (digital) of turnover as presumptive income. No books needed. Eligibility, who cannot opt.

20 Apr 2026 5 min read

Income Tax

ITR-6: Income Tax Return for Companies — Due Date, Process (2026)

ITR-6 is for companies other than Section 11 (charitable). Due 31 October (with audit) or 31 July. Filing process, required documents.

18 Apr 2026 5 min read

Income Tax

Section 115BAB: 15% Tax Rate for New Manufacturing Companies

Section 115BAB offers 15% (effective 17.16%) corporate tax for new manufacturing companies. Strictest eligibility — date, activity, no other regime.

16 Mar 2026 6 min read

Income Tax

Section 56(2)(viib) Angel Tax: Exemption Process for Startups (2026)

Angel Tax taxes share issuance above fair value. Exemption available for DPIIT-recognised startups under specific conditions. Procedure detailed.

14 Mar 2026 6 min read

Income Tax

TDS Rates & Deadlines for FY 2026-27 (Complete Guide)

TDS rates by section, due dates for deposit and quarterly returns, Form 16/16A issuance. Updated rates for major sections.

12 Mar 2026 6 min read

Income Tax

ITR-U: Updated Return for Past Years (Section 139(8A))

ITR-U allows updating ITR for past 2 years. Use cases, additional tax (25-50%), eligibility conditions, situations NOT allowed.

10 Mar 2026 5 min read

Income Tax

Section 44ADA: Presumptive Taxation for Professionals (50% Scheme)

Section 44ADA allows professionals (CA, doctor, lawyer, etc.) to declare 50% of gross receipts as income. Up to ₹75 lakh turnover (extended).

08 Mar 2026 4 min read

Income Tax

Section 80C Deductions: Complete List of Eligible Investments (₹1.5L)

Section 80C allows ₹1.5 lakh deduction across LIC, PPF, ELSS, NSC, EPF, home loan principal, school fees. Detailed list and limits.

10 Feb 2026 6 min read

Income Tax

Section 80D: Health Insurance Tax Deduction (Self + Parents)

Section 80D allows ₹25k (self+family) + ₹50k (senior parents) deduction on health insurance premiums. Preventive check-up included.

08 Feb 2026 4 min read

Income Tax

Section 80G: Tax Deduction on Donations (50% / 100% / Eligible List)

Section 80G allows tax deduction for donations — 50% (most NGOs) or 100% (PM CARES, government funds). Conditions, proof, claim process.

06 Feb 2026 5 min read

Income Tax

Section 194Q: TDS on Purchase of Goods (Buyer Side — 0.1%)

Section 194Q makes BUYER deduct TDS at 0.1% on purchase value above ₹50 lakh from each seller. Buyer turnover > ₹10 cr threshold.

04 Feb 2026 5 min read

Income Tax

Section 206C(1H): TCS on Sale of Goods (Seller Side — 0.1%)

Section 206C(1H) makes SELLER collect TCS at 0.1% on sales above ₹50 lakh to a single buyer. Seller turnover > ₹10 cr threshold.

02 Feb 2026 5 min read

Income Tax

Tax Audit (Section 44AB): Applicability, Form 3CD, Due Date

Tax audit mandatory for businesses > ₹1 cr turnover (₹10 cr if cash < 5%). Process, Form 3CD details, due date 30 September.

31 Jan 2026 6 min read

Income Tax

Annual Information Statement (AIS): How to Review & Correct

AIS shows your financial transactions reported to Income Tax. Review before filing ITR. How to access, correct errors, types of data captured.

15 Jan 2026 5 min read