1961 Act vs 2025 Code
Quick Reference Cheat Sheet for Top 15 Tax Sections.
TAX SECTION MAPPING CHEAT SHEET
Generated specifically for Tax Professionals
www.ita1961to2025.in
Life Insurance, EPF, PPF Deduction
Aggregate deduction limit of Rs. 1.5 Lakh for specified investments.
Medical Insurance Premium
Deduction for health insurance premiums for self and parents.
House Rent Allowance (HRA)
Exemption on house rent allowance received from the employer.
Standard Deduction (Salary)
Flat standard deduction from gross salary income.
Filing of Income Tax Return
Mandatory requirement and due dates for filing annual ITR.
Intimation & Processing of ITR
Computerized processing of return and issuance of intimation.
Income Escaping Assessment
Notice issued for reassessment of hidden/escaped income.
TDS on Salary
Deduction of tax at source by the employer on salary payouts.
TDS on Contractors
TDS on payments made to contractors and sub-contractors.
TDS on Professional Fees
TDS on fees for professional, technical, or royalty services.
TDS on Rent
TDS on rental payments for land, building, or machinery.
Cash Transaction Limit (2 Lakhs)
Restriction on receiving cash of Rs. 2 Lakh or more in a single day/event.
Penalty for Cash Loans
100% penalty for accepting cash loans/deposits over Rs. 20,000 (Violation of 269SS).
Interest for Late ITR Filing
1% per month interest levied for late filing of Income Tax Return.
Tax on Long Term Capital Gains
Special tax rate on LTCG from listed equity shares and mutual funds.
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