For those earning income only from Salary or Interest on Bank Deposits.
If you earn income from salary alone and/or interest from a Bank Savings account, Fixed or Recurring Deposits, there are no hassles you need be worried about. No matter the complex breakdowns of salary components, our tax expert pro-actively chooses the right deductions to apply, giving you maximum savings and minimum tax outgo.
Plan Description
Your salary is a composite of many parts including the Basic, Dearness allowance, Conveyance allowance, Medical Reimbursements, Leave Travel allowance (LTA), House Rent Allowance (HRA) and other assorted perquisites or perks.
Basic salary and dearness allowance are generally taxable. HRA, eligible allowances, standard deduction, and regime-specific deductions are reviewed against the current AY 2026-27 rules before filing.
Salaried individuals with income from savings accounts, fixed deposits, recurring deposits, or similar sources may subscribe to this plan. Our experts review interest income, available deductions, and the right ITR form before filing.
Who is this Plan for?
- Individuals with only salary income.
- Salaried individuals who additionally earn income from interest accrued on a fixed or recurring deposit account with a financial institution such as a bank.
- Individuals or Hindu Joint families who require filing a single Form 16.
- Individuals or Hindu Joint Families with income from interest earned on Fixed or Recurring Deposits exceeding Rupees 10,000 regardless of whether you’ve filed Form 15G or Form 15H.
What Do I Get?
- Call-back from a tax expert and advice on documents to be submitted.
- Tax scrutiny and double checking for discrepancies in figures.
- Validation by a professional CA.
- Identification and Computation of tax liability.
- Preparation of summary sheet.
- E-filing of income tax return.
Why Choose Us?
- You get the benefits of comparative advantage obtained through specialization.
- Obtain top-of-the-line tech-enabled tax preparation services from one of the leading government certified e-return intermediaries in the country.
- Unmatched affordability across the industry.
- Highly experienced tax experts dedicated to your success.
How to Proceed?
- Sign up with us or call our Toll-Free number. We’ll create a record of your tax implications.
- Buy one of our subscriptions based on your tax profile.
- Receive a call back from the CA assigned to you.
- Depending on your completed profile you would be asked to submit documents to enable the CA to process your returns, apply deductions, income tax slabs, and tax exemptions or e-file form 10E.
- The tax expert prepares your return, verifies it with you and submits it to the tax department.
FAQ
What income am I taxed for?
Income is not just salary but includes all income that you earn from all other sources. Other sources include house property, profit/loss from selling stocks, interest earned on a savings account/fixed deposits. All the income generated from these sources is your gross income and is taxable.
Which tax regime applies to salaried individuals for AY 2026-27?
The new tax regime is the default for individuals for FY 2025-26 (AY 2026-27). The old regime may still be selected subject to the applicable rules. Under the new regime, salaried taxpayers get a standard deduction of Rs. 75,000 and resident individuals with total income up to Rs. 12,00,000 get a rebate of up to Rs. 60,000 under Section 87A, so they pay no tax. Under the old regime, the standard deduction is Rs. 50,000 and the Section 87A rebate is up to Rs. 12,500 for resident individuals with total income up to Rs. 5,00,000. Our experts compare both regimes, including deductions available only under the old regime, before filing your return.
Use the current income tax calculator to estimate both regimes.
| New tax regime (default): rates of income-tax for all individuals (FY 2025-26 / AY 2026-27) | ||
|---|---|---|
| 1 | where the total income does not exceed Rs. 4,00,000 | Nil |
| 2 | where the total income exceeds Rs. 4,00,000 but does not exceed Rs. 8,00,000 | 5% |
| 3 | where the total income exceeds Rs. 8,00,000 but does not exceed Rs. 12,00,000 | 10% |
| 4 | where the total income exceeds Rs. 12,00,000 but does not exceed Rs. 16,00,000 | 15% |
| 5 | where the total income exceeds Rs. 16,00,000 but does not exceed Rs. 20,00,000 | 20% |
| 6 | where the total income exceeds Rs. 20,00,000 but does not exceed Rs. 24,00,000 | 25% |
| 7 | where the total income exceeds Rs. 24,00,000 | 30% |
| Old tax regime: rates of income-tax for those under 60 years of age (FY 2025-26) | ||
|---|---|---|
| 1 | where the total income does not exceed Rs. 2,50,000 | Nil |
| 2 | where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 | 5% |
| 3 | where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 | 20% |
| 4 | where the total income exceeds Rs. 10,00,000 | 30% |
| Old tax regime: rates of income-tax for Senior Citizens between 60 and 80 years | ||
|---|---|---|
| 1 | where the total income does not exceed Rs. 3,00,000 | Nil |
| 2 | where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000 | 5% |
| 3 | where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 | 20% |
| 4 | where the total income exceeds Rs. 10,00,000 | 30% |
| Old tax regime: rates of income-tax for Senior Citizens over 80 years | ||
|---|---|---|
| 1 | where the total income does not exceed Rs. 3,00,000 | Nil |
| 2 | where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000 | Nil |
| 3 | where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 | 20% |
| 4 | where the total income exceeds Rs. 10,00,000 | 30% |
Aren’t my taxes deducted by my employer? Why do I need to file returns as well?
Your employer deducts Tax Deducted at Source (TDS) every month and files TDS returns every quarter. But that doesn’t end your tax obligations. You are responsible for declaring your income and taxes paid on them at the end of the year. This is known as your income tax return for the relevant financial year.
Return-filing requirements now depend on your taxable income, income type, age, transactions, and other statutory conditions for the relevant assessment year. Late filing may attract fee, interest, and restrictions. For FY 2025-26 (AY 2026-27), the due date for individuals whose accounts are not required to be audited is 31 July 2026, unless extended by the government.
What is interest income?
Income from sources other than salary, house property, capital gains (sale of shares, house etc.), business or profession is classified under the head, “Income from Other Sources”. Income from interest earned on deposits with banks, post offices, FDs, Recurring Deposit schemes appear under this head.
Under the old tax regime, Section 80TTA allows a deduction of up to Rs. 10,000 a year on savings account interest for individuals below 60 years and HUFs, while resident senior citizens can claim a deduction of up to Rs. 50,000 a year on deposit interest under Section 80TTB.
