M. Abhishek & Associates
Chartered Accountants
CA Abhishek Mishra
M. Abhishek & Associates
Chartered Accountants
CA Abhishek Mishra
Practical accounting, taxation and compliance support — backed by structured execution and direct professional assistance.
Direct professional oversight
Cross-border support
Industry-specific solutions
Accounting → Tax → Compliance
Professional accounting, taxation, compliance and advisory solutions for businesses, professionals and individuals.
Tell us what you're dealing with — we'll help identify the right professional solution.
Accounting • GST • MIS • Ongoing support
Periodic compliance and review
ITR • Audit • Financial statements
Backlog accounting • Reconciliation • Finalisation
Incorporation • Restructuring • Special assignments
Tax planning • CFO support • Business advisory
Requirement and document review
Applicability, tax and compliance assessment
Preparation, filing or advisory
Reconciliation and quality checks
Reports, acknowledgements, certificates or final output
Ongoing compliance and professional assistance
Every service opens a detailed 17-point guide containing statutory rules, 4-tier document checklists, filing steps, common errors, and CA safeguards.
Comprehensive solutions tailored for your business across borders.
We work within the accounting environment you already use, so your existing records and workflows are not disturbed.
Software names are the trademarks of their respective owners. Listed to indicate working familiarity only — no partnership, affiliation or certification is claimed.
Due dates, statutory updates and verified government portals — kept in one place.
Compare the old and new tax regimes side by side for Tax Year 2026–27. Slab rates, standard deduction, Section 87A rebate, surcharge and cess are applied automatically — with a full computation breakdown you can review line by line.
Enter gross income, 80C, 80D and other deductions. See which regime is cheaper and by exactly how much.
Recurring due dates across income tax, GST, TDS and MCA.
Direct partner engagement, statutory precision, and one accountable point of contact.
Work directly with a CA-led professional practice.
Defined document and execution workflow.
Systematic handling of accounting, GST, tax and regulatory requirements.
Clear scope, documentation, timelines and deliverables.
Support for Indian and cross-border requirements.
Digital documentation, reconciliation and reporting workflows.
Let's discuss your requirement and identify the right professional solution.
M. Abhishek & Associates is an independent Chartered Accountancy practice founded by CA Abhishek Mishra. We operate on a model of direct partner engagement — your file is never delegated to junior articled assistants without qualified oversight.
We serve a diverse pan-India and international NRI clientele, strictly adhering to the ICAI Code of Ethics, Auditing Standards (SAs), and Indian Company Law.
Follow the practice for regulatory updates, filing reminders and professional insights.
61/49, Sitaram Mohal, Opp. Dr. Shyam Manohar Arya Public School, Mall Road, Kanpur Nagar, Uttar Pradesh – 208001
T27, F-12209, Mahagun Mywoods, Sector 16-C, Greater Noida West, Delhi (NCR), Uttar Pradesh – 201301
Proprietor: CA Abhishek Mishra (ICAI Member)
Phone: +91 81880 15557
Email: contact@mabhishekassociates.com
Before setting up independent practice, CA Abhishek Mishra spent several years inside finance functions and in banking credit — not only in audit rooms. That combination shapes how the firm works: advice is given with an understanding of how a business actually runs its accounts, and how a lender actually reads them.
Direct partner-led practice across income tax, GST, audit and assurance, MCA/ROC compliance, international taxation and business setup — serving pan-India and NRI clients.
Credit appraisal and underwriting of lending proposals — financial statement analysis, ratio and cash-flow assessment, borrower due diligence and risk evaluation. This experience directly benefits clients on CMA data, project reports, working capital assessment and bank loan documentation, because the file is prepared the way a credit team expects to receive it.
Managed the in-house finance and accounts function — day-to-day accounting, statutory compliance, internal controls, reconciliations, MIS and audit coordination in a high-volume, cash-intensive, closely regulated environment.
Every industry carries its own statutory pressure points. These are the segments we work with most closely, and the issues we handle for each.
DPIIT recognition, Section 80-IAC tax holiday structuring, ESOP valuation, cap table advisory and funding due diligence.
Inventory valuation, GST input tax reconciliation, factory audits, e-way bill controls and working capital CMA projections.
DTAA tax credits, 15CA/15CB remittance certifications, property sale withholding, repatriation and FEMA compliance.
Tax audit u/s 44AB, business loss set-off, crypto VDA taxation, and multi-broker turnover reconciliation.
12A & 80G registrations, Form 10B/10BB audit reporting, Form 10BD donation filing and FCRA donor compliance.
RERA quarterly audit, project escrow verification, TDS u/s 194-IA and joint development agreement (JDA) taxation.
Presumptive taxation u/s 44ADA for doctors and consultants, clinic entity structuring, and professional receipts reconciliation.
LUT for zero-rated exports, GST refund on input services, SOFTEX and FIRC tracking, and transfer pricing for captive units.
Marketplace TCS reconciliation, multi-state GST registration, GSTR-8 credit matching and platform settlement audits.
Section 10(23C) and 12AB exemption approvals, fee accounting, grant utilisation reporting and institutional audits.
FSSAI licensing, restaurant GST rate structuring, banquet and package billing, and outlet-level margin review.
GTA reverse charge, e-way bill compliance, fleet depreciation planning and presumptive taxation u/s 44AE.
RBI registration and returns, NPA classification, statutory ratio monitoring and takeover due diligence.
Statutory society audits, Section 80P deduction claims, member accounting and registrar filings.
Agricultural income characterisation, FPO structuring, warehousing and processing unit compliance.
Foreign platform receipts, TDS u/s 194R on gifts and barter, GST on digital services and royalty taxation.
Percentage completion accounting, works contract GST, retention and mobilisation advance treatment.
Regime comparison, capital gains planning, estate and succession structuring, and notice representation.
Your sector not listed? The statutory framework still applies — we will map it for your business.
Enter your figures below — the comparison updates instantly. Slab rates, standard deduction, Section 87A rebate, surcharge and cess are applied automatically under both regimes.
All amounts in rupees, per annum.
Deductions — Old Regime Only
The new regime does not allow 80C, 80D or HRA — only the standard deduction is applied there.
| Computation | Old Regime | New Regime |
|---|
The Income-tax Act, 2025 has replaced the Income-tax Act, 1961 with effect from 1 April 2026, and applies from Tax Year 2026–27 onwards. The rewrite consolidates and simplifies the statute — the core principles of taxation for salary, house property, capital gains, business income and deductions remain substantially the same, but the section numbering, terminology and forms have changed.
| Provision | Old Section (1961) | New Section (2025) |
|---|---|---|
| Return of income | Sec. 139 | Sec. 263 |
| TDS on salary | Sec. 192 | Sec. 392 r/w 402 |
| TDS provisions (consolidated) | Sec. 190–206 | Sec. 393 |
| Advance tax | Sec. 208 | Sec. 404 |
| Audit of accounts / presumptive taxation | Sec. 44AB, 44AD, 44ADA, 44AE | Sec. 58 & 63 |
| Capital gain — residential house | Sec. 54 | Sec. 82 |
| Capital gain — agricultural land | Sec. 54B | Sec. 83 |
| Capital gain — other assets | Sec. 54F | Sec. 86 |
| Deduction — LIC / PF / investments | Sec. 80C | Sec. 123 (Sch. XV) |
| Deduction — health insurance | Sec. 80D | Sec. 126 |
| Deduction — donations | Sec. 80G | Sec. 133 |
| Salary — charging section | Sec. 15 | Sec. 15 |
| Salary — deductions | Sec. 16 | Sec. 19 |
| Perquisites | Sec. 17 | Sec. 16–18 |
| New tax regime (default) | Sec. 115BAC | Sec. 202 |
| Document | Old Form | New Form |
|---|---|---|
| Salary TDS certificate | Form 16 | Form 130 |
| Annual tax statement | Form 26AS | Form 168 |
| Due Date | Compliance | Form / Challan |
|---|---|---|
| 7th | Deposit of TDS / TCS deducted in the previous month | Challan ITNS-281 |
| 10th | GST TDS return and GST TCS return by e-commerce operators | GSTR-7 / GSTR-8 |
| 11th | Outward supplies return — monthly filers | GSTR-1 |
| 13th | QRMP invoice furnishing; non-resident and ISD returns | IFF / GSTR-5 / GSTR-6 |
| 15th | Deposit of Provident Fund and ESI contributions | ECR / ESIC |
| 20th | Summary return and payment of net GST liability | GSTR-3B |
| 22nd / 24th | QRMP quarterly GSTR-3B — due date varies by State group | GSTR-3B |
| 25th | QRMP monthly tax payment for the first two months of a quarter | PMT-06 |
| 30th | TDS on property, rent and contractual payments by individuals | 26QB / 26QC / 26QD |
| Due Date | Compliance | Form |
|---|---|---|
| 15 Jun | Advance tax — 1st instalment (15% of estimated liability) | Challan 280 |
| 15 Sep | Advance tax — 2nd instalment (cumulative 45%) | Challan 280 |
| 15 Dec | Advance tax — 3rd instalment (cumulative 75%) | Challan 280 |
| 15 Mar | Advance tax — final instalment (100%) | Challan 280 |
| 31 Jul / 31 Oct 31 Jan / 31 May | Quarterly TDS/TCS statements — salary, resident non-salary, non-resident and TCS. For FY 2025-26 the forms are 24Q / 26Q / 27Q / 27EQ; from FY 2026-27 they are renumbered under the Income-tax Rules, 2026. See the TDS FY 2026-27 reference. | 138 / 140 / 144 / 143 (was 24Q / 26Q / 27Q / 27EQ) |
| 15 Aug / 15 Nov 15 Feb / 15 Jun | Issue of TDS certificates to deductees | Form 16A |
| Due Date | Compliance | Form |
|---|---|---|
| 31 May | Statement of donations by trusts and institutions | Form 10BD |
| 15 Jun | Issue of salary TDS certificate to employees | Form 130 (earlier 16) |
| 31 Jul | Return filing — individuals, HUFs and non-audit assessees | ITR-1 to ITR-4 |
| 30 Sep | Tax audit report; trust and institution audit reports | 3CA/3CB-3CD, 10B/10BB |
| 31 Oct | Return filing — audit cases, companies and firms | ITR-3 / ITR-5 / ITR-6 |
| 31 Oct | Transfer pricing accountant's report | Form 3CEB |
| 30 Nov | Return filing — assessees with international / specified domestic transactions | ITR + 3CEB |
| 31 Dec | Belated and revised return for the tax year | ITR |
| Due Date | Compliance | Form |
|---|---|---|
| 30 Apr | Annual return by composition taxpayers | GSTR-4 |
| 30 Jun | Annual return by e-commerce operators collecting TCS | GSTR-9B |
| 31 Dec | Annual return and reconciliation statement | GSTR-9 / GSTR-9C |
| Before 1st supply of FY | Letter of Undertaking for exports without payment of tax | LUT / RFD-11 |
| Due Date | Compliance | Form |
|---|---|---|
| 30 May | LLP annual return | LLP Form 11 |
| 15 Jul | Annual return of foreign liabilities and assets (RBI) | FLA Return |
| 30 Sep | Annual KYC by every DIN holder | DIR-3 KYC |
| 30 Sep | Annual General Meeting — companies | AGM |
| 14 Oct | Auditor appointment intimation (within 15 days of AGM) | Form ADT-1 |
| 29 / 30 Oct | Filing of audited financial statements (within 30 days of AGM) | Form AOC-4 |
| 30 Oct | LLP statement of account and solvency | LLP Form 8 |
| 28 / 29 Nov | Company annual return (within 60 days of AGM) | MGT-7 / MGT-7A |
| 31 Dec | FCRA annual return by registered associations | Form FC-4 |
Complete TDS reference for FY 2026-27 / Tax Year 2026-27. From 1 April 2026 the tax deduction provisions previously spread across sections 192 to 194T of the Income-tax Act, 1961 sit consolidated in sections 392 and 393 of the Income-tax Act, 2025, presented as a table with serial numbers rather than as separate sections. Every rate, threshold and serial number below is taken from the section 393 Table as published by the Income Tax Department.
The Income-tax Act, 2025 does not carry the old section numbers in its text. The correspondence below is an indicative practitioner's aid, not part of the statute — it is offered to help you find the new entry, and the operative reference to quote on a challan or statement is the new one.
| What changed | Until 31 March 2026 | From 1 April 2026 |
|---|---|---|
| TDS charging provisions | Sections 192 – 194T, 195, 196A – 196D | Sections 392 and 393, as a Table with serial numbers |
| Salary TDS | Section 192 | Section 392 |
| Resident payments | Various sections | Section 393(1) — Table Sl. Nos. 1 to 8 |
| Non-resident payments | Section 195 and 196A – 196D | Section 393(2) — Table Sl. Nos. 1 to 17 |
| Winnings, cash withdrawal, partner payments | 194B, 194BA, 194BB, 194G, 194N, 194EE, 194T | Section 393(3) |
| Quarterly statement — salary | Form 24Q | Form 138 |
| Quarterly statement — resident non-salary | Form 26Q | Form 140 |
| Quarterly statement — non-resident | Form 27Q | Form 144 |
| Quarterly statement — TCS | Form 27EQ | Form 143 |
| Challan-cum-statement | Forms 26QB, 26QC, 26QD, 26QE | Form 141 — all four merged |
| Certificate — salary | Form 16 | Form 130 |
| Certificate — non-salary | Form 16A | Form 131 |
| Certificate — property, rent, 194M, VDA | Forms 16B, 16C, 16D, 16E | Form 132 — all four merged |
| Certificate — TCS | Form 27D | Form 133 |
| Refund of excess TDS deposited | Form 26B | Form 139 |
| Foreign remittance declaration | Form 15CA | Form 145 |
| Foreign remittance — accountant's certificate | Form 15CB | Form 146 |
Two points worth flagging, because they are easy to get the wrong way round: Form 27Q maps to Form 144 and Form 27EQ maps to Form 143 — the numbers do not run in the order the old forms did. And the TCS quarterly statement date has moved from the 15th of the month following the quarter to the 31st, in line with the other three statements.
— provisions. Select any row to open the full detail — payee type, PAN position, surcharge, cess, effective date, statement form, certificate form, conditions and the official source.
| Nature of Payment | Old Act (1961) |
New Act (2025) |
Payee Type | TDS Rate | Threshold |
|---|
Rates in force = the rate specified in the Finance Act for the tax year. Old Act column = indicative aid, not statutory text.
Salary TDS is governed by section 392 of the Income-tax Act, 2025. It is not a fixed percentage and never has been. The employer estimates the employee's salary income for the whole tax year, computes the tax on it at the rates in force, and deducts at the average rate so that the liability is spread across the year.
| Basis | Average rate of income-tax on the estimated salary for the tax year, at the rates in force. |
| Regime | The employee's choice of tax regime drives the computation, and the deductions and exemptions actually available follow from that choice. The election must be captured in writing at the start of the year and applied consistently. |
| Adjustments permitted | Salary from another employer during the tax year, loss under the head house property, and tax already deducted may be taken into account. Section 392 does not permit the deduction to be reduced on any other ground. |
| Non-monetary perquisites | The employer may elect to pay the tax on a non-monetary perquisite itself rather than deduct it, and that payment is treated as tax deducted at source. |
| Provident fund withdrawal | Taxable accumulated balance of a recognised provident fund attracts 10% where the aggregate payment is ₹50,000 or more — section 392(7). |
| Surcharge & cess | Both apply to salary TDS. The carve-out in section 3(17)(i) of the Finance Act, 2026 that removes cess for resident payees is expressed to disapply only sub-section (16), and so does not reach salary. |
| Quarterly statement | Form 138 (previously Form 24Q) |
| Certificate | Form 130 (previously Form 16) — due 15 June following the tax year, downloaded from TRACES. Offline preparation is not permitted. |
Non-resident deduction sits in section 393(2), a Table of 17 entries. One structural point matters more than any individual rate: the section 393(2) Table has no threshold column at all. Unlike resident payments, there is no minimum amount below which deduction is not required. Deduction is on the sum chargeable to tax, from the first rupee.
| Residual entry | Sl. No. 17 — any other interest, or any other sum chargeable to tax, paid to a non-resident and not being salary. This is the successor to the familiar section 195. |
| Treaty relief | A beneficial rate under a Double Taxation Avoidance Agreement may be claimed where the treaty conditions are satisfied. It is not automatic. In practice this means a valid tax residency certificate, the prescribed declaration, beneficial ownership, and no treaty-abuse trigger. Where any element is missing, the domestic rate applies. |
| PAN | Where the payee has not furnished a PAN, a higher rate of deduction applies. The operative provision and rate for the tax year should be confirmed before deducting — we have deliberately not stated a figure we could not verify against the Act. |
| Surcharge | Applies to non-resident and foreign-company deductees, per the Table in section 3(7) of the Finance Act, 2026. The specific slab must be read from that Table for the payee's category and income level. |
| Health & Education Cess | 4% applies on income-tax and surcharge. One carve-out: a specified fund under Schedule VI referred to in section 210(1) — section 3(17)(ii), Finance Act, 2026. |
| Remittance reporting | Form 145 (previously Form 15CA) — declaration by the remitter, under Rule 220 |
| Accountant's certificate | Form 146 (previously Form 15CB) — required where the remittance is chargeable to tax and exceeds ₹5 lakh in the tax year and no certificate under section 395(1) or 395(2) has been obtained from the Assessing Officer |
| Quarterly statement | Form 144 (previously Form 27Q) |
Prescribed by the Table under Rule 219(1) of the Income-tax Rules, 2026. Which form you file is decided by the section under which you deducted and by whether the deductee is a resident — not by a general idea of what the payment was.
| Form | Covers | Replaces | Rule 219(1) Sl. No. |
|---|---|---|---|
| Form 138 | Section 392 (other than 392(7)) and section 393(1) — salary | Form 24Q | 1 |
| Form 140 | Sections 392(7), 393(1) other than Table Sl. No. 8(iii), and 393(3) — resident non-salary | Form 26Q | 3 |
| Form 144 | Sections 392(7), 393(2) and 393(3) where the deductee is a non-resident | Form 27Q | 2 |
| Form 143 | Section 394(1) — tax collected at source | Form 27EQ | 4 |
| Form 141 | Challan-cum-statement for rent, transfer of immovable property, contract/professional payments by an individual or HUF, and virtual digital assets — one form, four schedules | Forms 26QB, 26QC, 26QD, 26QE | Rules 218(3), 219(5) |
| Form 139 | Claim for refund of excess TDS deposited. This is not a quarterly statement. | Form 26B | — |
Six certificate forms have been consolidated into four. Note in particular that Forms 16B, 16C, 16D and 16E are now a single Form 132.
| Form | Covers | Replaces | Due for issue |
|---|---|---|---|
| Form 130 | Salary | Form 16 | 15 June of the financial year immediately following the tax year |
| Form 131 | Non-salary payments | Form 16A | Within 15 days of the due date for the corresponding quarterly statement — 15 Aug / 15 Nov / 15 Feb / 15 June |
| Form 132 | Immovable property, rent, contract and professional payments by individuals and HUFs, and virtual digital assets | Forms 16B, 16C, 16D, 16E | Within 15 days of the due date for the corresponding challan-cum-statement in Form 141 |
| Form 133 | Tax collected at source | Form 27D | Within 15 days of the due date for the corresponding quarterly TCS statement |
Four distinct obligations, frequently collapsed into one in practice. Deduction, deposit, quarterly statement and certificate each carry their own date.
At the time of credit to the account of the payee or at the time of payment, whichever is earlier. Crediting a suspense account counts as credit. Salary is the exception — deduction is at the time of payment.
| Deductor / situation | Due date |
|---|---|
| Government deductor, tax paid without an income-tax challan (book entry) | Same day |
| Government deductor, with challan | Within 7 days from the end of the month of deduction |
| Non-government deductor — ordinary monthly deduction | Within 7 days from the end of the month of deduction |
| Income credited or paid in March | On or before 30 April |
| Deductions requiring challan-cum-statement in Form 141 — rent, transfer of immovable property, contract or professional payments by an individual or HUF, virtual digital assets | Within 30 days from the end of the month of deduction, with Form 141 |
| Quarter ended | Due date | Forms |
|---|---|---|
| 30 June 2026 | 31 July 2026 | 138 / 140 / 143 / 144 |
| 30 September 2026 | 31 October 2026 | 138 / 140 / 143 / 144 |
| 31 December 2026 | 31 January 2027 | 138 / 140 / 143 / 144 |
| 31 March 2027 | 31 May 2027 | 138 / 140 / 143 / 144 |
The same four dates now apply to the TCS statement in Form 143. Under the old Rule 31AA the TCS return in Form 27EQ was due on the 15th of the month following the quarter. If your internal calendar still carries 15 July, 15 October, 15 January and 15 May for TCS, it needs updating.
| Form 130 (salary) | 15 June 2027 |
| Form 131 (non-salary) | 15 Aug 2026 / 15 Nov 2026 / 15 Feb 2027 / 15 June 2027 |
| Form 132 (property, rent, 194M-type, VDA) | Within 15 days of the Form 141 due date |
| Form 133 (TCS) | Within 15 days of the Form 143 due date |
| Governing Act | Income-tax Act, 2025 (30 of 2025), as amended by the Finance Act, 2026 |
| Sections | 392 (salary and provident fund), 393 (all other deduction), 394 (collection at source), 395 (certificates and lower-deduction orders), 397 (statements) |
| Rules | Income-tax Rules, 2026 — Rule 218 (deposit), Rule 219 (statements), Rule 220 (foreign remittance reporting), Rule 215 (certificates) |
| Notification | G.S.R. 198(E) dated 20 March 2026, made under section 533, commencing 1 April 2026 |
| Surcharge & cess | Section 3 of the Finance Act, 2026 — sub-sections (7) and (9) carry the surcharge Tables; sub-sections (15) and (16) impose the 4% cess; sub-section (17) carries the carve-outs |
| Regulator | Central Board of Direct Taxes, Department of Revenue, Ministry of Finance |
| Last verified | 16 August 2026 |
Connect directly with CA Abhishek Mishra for regulatory assessments, tax planning, and corporate compliance.
61/49, Sitaram Mohal, Opp. Dr. Shyam Manohar Arya Public School, Mall Road, Kanpur Nagar, Uttar Pradesh – 208001
T27, F-12209, Mahagun Mywoods, Sector 16-C, Greater Noida West, Delhi (NCR), Uttar Pradesh – 201301
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