Income Tax FAQs – India (2025)
Get answers to the most searched questions about income tax in India
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Frequently Asked Questions about Income Tax in India
Income tax is a tax imposed by the Government of India on individuals and entities based on their income. Anyone earning more than the basic exemption limit (₹2.5 lakh for individuals under 60) is required to pay tax as per the applicable slabs.
The old regime allows various exemptions and deductions like HRA, 80C, 80D, etc., while the new regime offers lower slab rates but without these benefits. Taxpayers can choose the regime each financial year based on what suits them best.
Visit the official income tax website (https://incometax.gov.in), log in with your PAN, and select the appropriate ITR form. You can file online using prefilled data or upload a JSON file. Finally, e-verify the return to complete the process.
Form 16 is a certificate issued by an employer that summarizes an employee’s salary and TDS (tax deducted at source) details. It is essential for filing ITR, especially under the old regime.
Common deductions include:
- Section 80C – up to ₹1.5 lakh (e.g., PPF, LIC, ELSS)
- Section 80D – medical insurance premiums
- Standard deduction – ₹50,000 (₹75,000 for FY25 in tool)
- HRA exemption
- Interest on home loan under Section 24(b)
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