Free Tax & GST Workspace — Income Tax & GST

Everything you need to handle income tax and GST in one place — free. Compare the old and new tax regimes for AY 2026-27, compute your liability, handle GST notices and get step-by-step AI guidance.

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What you can do here

Old vs New tax regime comparison (AY 2026-27) with 87A rebate
Income tax, HRA, 80C, capital-gains and advance-tax calculators
GSTR-1 and GSTR-3B net-liability computation tools
GST notice (DRC-01) reply drafter and ITC eligibility check
AI Tax and GST agents — plain-English answers 24/7

The new regime is the default, so inaction is a choice

Since the new regime became the default, filing without an explicit election means your tax is computed under it. Salaried taxpayers may switch each year at the time of filing. Those with business or professional income cannot: they must file Form 10-IEA to opt for the old regime, and they do not get to move back and forth freely. Whichever applies to you, run both computations on your real figures rather than relying on a rule of thumb — the answer depends on deductions you can actually evidence.

Understand what the ₹12 lakh figure really is

Nil tax up to ₹12 lakh under the new regime comes from the section 87A rebate, not from the slabs themselves. That distinction has consequences. The rebate is available only to resident individuals, so non-residents and HUFs do not get it. And it does not apply to income taxed at special rates, most importantly capital gains on listed equity. A taxpayer under ₹12 lakh in total income can still owe tax after selling shares, which surprises people every year.

Deductions that survive in the new regime

The new regime is not entirely deduction-free, and the exceptions are worth knowing. Salaried taxpayers still get the standard deduction, the employer's contribution to NPS remains deductible under section 80CCD(2), and there is a deduction against family pension. What goes is the familiar list — HRA, LTA, 80C, 80D, and interest on a self-occupied house property. Interest on a let-out property is treated differently and is worth checking separately.

Income tax and GST are checked against data you did not supply

Both systems now reconcile you against third-party records. For income tax that is the AIS and Form 26AS, which carry interest, dividends, securities transactions and significant expenses reported by others. For GST it is GSTR-2B, populated by your suppliers' filings, and the comparison between your GSTR-1 and GSTR-3B. Filing something that disagrees with those records is the most reliable way to generate a notice, and reconciling first is much cheaper than replying later.

Sequence the year rather than reacting to it

Most penalties in both systems come from timing, not from disputes. Advance tax runs in four cumulative instalments; GST returns file in sequence so one gap blocks the next; a late income-tax return costs you the right to carry losses forward; and an unverified return is not a filed return at all. Put the dates in a calendar with reminders several days early — the compliance calendar has them — and use the reconciliation tools before each filing rather than after.

Frequently asked questions

Which income-tax regime is better for AY 2026-27?

Under the new regime, income up to ₹12 lakh is effectively tax-free via the 87A rebate. The old regime can still win if your deductions (80C, 80D, HRA, home-loan interest) exceed ₹3.75 lakh. Use our free calculator to compare.

How do I reply to a GST DRC-01 notice?

Read the section cited, reconcile your GSTR-2B and purchase register, and file a reply (DRC-06) before the deadline. The AI GST agent drafts the reply for you.

What is the ITR filing last date for AY 2026-27?

For individuals filing ITR-1/ITR-2 it was 31 July 2026, and it was not extended this year. ITR-3/ITR-4 non-audit filers have until 31 August 2026 and audit cases until 31 October 2026. A missed due date can still be met with a belated return under Section 139(4) up to 31 December 2026, with a Section 234F late fee (₹1,000 up to ₹5 lakh income, otherwise ₹5,000) plus Section 234A interest.

What deductions are allowed under the new tax regime?

The new regime allows only the standard deduction (₹75,000 for salaried), 80CCD(1B) NPS and 80JJAA employer NPS contribution. Most other deductions (80C, 80D, HRA, LTA) are not allowed.