Easy Smart Shop Software – Complete Business Management Solution for Modern Businesses

In today’s fast-growing and competitive business world, managing daily operations manually is becoming difficult and time-consuming. Every business requires fast billing, accurate stock management, proper accounting, and professional reporting to run smoothly and efficiently.

To solve these challenges, SwaNirmit Technologies proudly presents Easy Smart Shop Software — a smart, reliable, and complete business management solution designed for modern businesses.

Whether you run a retail shop, supermarket, manufacturing unit, medical store, or wholesale business, Easy Smart Shop Software helps you manage your entire business digitally from one powerful platform.

Why Businesses Need Smart Management Software

Traditional business management methods often create problems such as:

  • Slow billing process
  • Stock mismatch and inventory errors
  • Difficulty in maintaining accounts
  • Manual report preparation
  • Outstanding payment tracking issues
  • Data loss and security risks

A professional business software solution helps businesses save time, reduce errors, improve productivity, and make better business decisions.

Easy Smart Shop Software is specially developed to make daily business operations simple, fast, and professional.

Key Features of Easy Smart Shop Software

GST & Non-GST Billing

Generate professional invoices quickly with GST and Non-GST billing support.

Fast Invoice Printing

Create and print invoices instantly to improve customer service and reduce billing time.

Inventory & Stock Management

Track available stock, low stock alerts, purchase entries, and product management easily.

Purchase & Sales Management

Manage all purchase and sales activities from one system with complete records.

Customer & Supplier Management

Maintain customer and supplier information with transaction history and balance tracking.

Accounting & Ledger Reports

Get accurate accounting reports including ledgers, profit reports, balance summaries, and more.

Outstanding & Payment Tracking

Track pending payments, customer dues, and supplier outstanding reports easily.

Barcode Support

Faster product billing and inventory handling using barcode scanning support.

Multi-User Access

Allow multiple staff members to work securely with role-based access.

Reports & Business Analytics

Generate daily, monthly, and yearly reports to analyze business performance effectively.

Job Work & Production Management

Manage manufacturing, production, and job work operations professionally.

Data Backup & Security

Keep your important business data secure with backup and recovery options.

User-Friendly Interface

Simple and easy-to-use design suitable for all business owners and staff.

Custom Print Formats

Customize invoices and print formats according to your business requirements.

Businesses That Can Use Easy Smart Shop Software

Our software is suitable for various business types, including:

  • Retail Shops
  • Super Markets
  • Grocery / Kirana Stores
  • Garments & Footwear Shops
  • Mobile & Electronics Stores
  • Hardware & Electrical Businesses
  • Furniture Shops
  • Printing Press
  • Manufacturing Units
  • Wholesale Businesses
  • Job Work Industries
  • And many more…

Continuous Updates & New Features

Technology changes rapidly, and businesses need modern solutions to stay ahead in the market.

One of the biggest strengths of Easy Smart Shop Software is continuous improvement. We regularly provide:

  • New features
  • Software updates
  • Improved reports
  • Better performance
  • Latest business tools
  • Modern billing solutions

This keeps your business software future-ready and efficient.

Benefits of Using Easy Smart Shop Software

✔ Faster Billing Process
✔ Better Stock Control
✔ Professional Business Management
✔ Reduced Manual Work
✔ Accurate Accounting
✔ Improved Customer Service
✔ Secure Business Data
✔ Time & Cost Saving
✔ Increased Business Productivity

Our Mission

At SwaNirmit Technologies, our mission is simple:

To make business management smarter, faster, easier, and completely professional for every business owner.

We believe every business deserves reliable software that helps them grow confidently in the digital era.

Contact Us

If you are looking for a complete business management software solution, Easy Smart Shop Software is the perfect choice for your business.

📞 Mobile: +91 8180009888

🌐 Easy Smart Shop Official Website

🌐 SwaNirmit Technologies Official Website

Start managing your business smarter with Easy Smart Shop Software today!

Start Fresh This Financial Year – No More Billing Errors!

नवीन आर्थिक वर्ष म्हणजे व्यवसायासाठी एक fresh start. नवीन goals, नवीन planning आणि growth साठी नवीन दिशा. पण जर तुमच्या billing system मध्ये अजूनही चुका होत असतील, तर हे तुमच्या business growth साठी मोठं अडथळा ठरू शकतं.

👉 म्हणूनच, या financial year मध्ये एक smart decision घ्या – No More Billing Errors!

⚠️ Billing Errors तुमच्या Business ला कसा नुकसान करतात?

Manual billing किंवा outdated system वापरत असाल तर खालील समस्या येऊ शकतात:

  • ❌ Wrong calculations
  • ❌ GST filing errors
  • ❌ Duplicate / missing entries
  • ❌ Stock mismatch
  • ❌ Customer trust कमी होणे

या छोट्या चुका भविष्यात मोठ्या financial loss मध्ये बदलू शकतात.

🚀 Solution – Smart Billing Software

आजच्या digital युगात billing software हा luxury नाही, तर necessity आहे.

✔️ Error-Free Billing

Software automatically calculations करतो, त्यामुळे mistakes होण्याची शक्यता जवळजवळ शून्य होते.

✔️ Fast & Professional Invoices

काही सेकंदात professional bills तयार करा.

✔️ GST Ready System

Automatic GST reports आणि filing साठी complete support.

✔️ Real-Time Reports

Sales, profit, stock – सगळं एका click मध्ये track करा.

✔️ Easy Stock Management

Low stock alerts, inventory tracking सगळं सोपं होतं.

💡 Why This Financial Year is the Right Time to Upgrade?

  • 📅 New beginning = Better system
  • 📊 Clean accounting start
  • 💼 Professional business image
  • 📈 Faster growth & better control

🏪 कोणासाठी उपयुक्त?

  • Retail Shops
  • Wholesale Businesses
  • Supermarkets
  • Medical Stores
  • Service Providers

📢 Make the Smart Move Today!

या नवीन financial year मध्ये तुमचा business upgrade करा आणि billing mistakes ला कायमचा goodbye द्या 👋

👉 Smart बना, Digital बना!

📞 Contact Us

📱 8180009888
🌐 www.easysmartshop.com
📧 sales@swanirmit.com

Updated Income Tax Slabs Applicable for FY 2025–26 (AY 2026–27)

Complete Overview of Income Tax Slabs, Rebate, Standard Deduction, Surcharge & Cess

The Government has retained the New Tax Regime as the default option and further streamlined the income tax slab structure to offer greater relief to middle-income taxpayers. For Financial Year 2025–26 (Assessment Year 2026–27), the revised framework emphasizes higher basic exemption limits, an enhanced rebate, and a standard deduction for salaried individuals, making the regime more taxpayer-friendly.

This article provides a comprehensive explanation of the latest income tax slab rates, along with details on the rebate under Section 87A, standard deduction, health and education cess, applicable surcharge, and the categories of taxpayers to whom these provisions apply.

1. New Income Tax Slab Rates – FY 2025–26 (AY 2026–27)

Under the New Tax Regime, income is taxed at progressive slab rates as outlined below:

Total Income Applicable Tax Rate
Up to ₹4,00,000 Nil
₹4,00,001 – ₹8,00,000 5%
₹8,00,001 – ₹12,00,000 10%
₹12,00,001 – ₹16,00,000 15%
₹16,00,001 – ₹20,00,000 20%
₹20,00,001 – ₹24,00,000 25%
Above ₹24,00,000 30%

👉 Note: Income tax is calculated slab-wise, meaning each portion of income is taxed at the applicable rate, not the entire income at one single rate.

2. Income Up to ₹4,00,000 – No Tax Liability

For FY 2025–26, the basic exemption limit under the New Tax Regime stands at ₹4,00,000.
Accordingly, individuals whose total taxable income does not exceed ₹4 lakh are not required to pay any income tax.

3. Rebate Under Section 87A – Significant Relief

Eligibility Criteria

  • Available only to Resident Individual taxpayers

  • Applicable exclusively under the New Tax Regime

Rebate Provisions

  • If taxable income does not exceed ₹12,00,000

  • 100% rebate of tax payable is allowed

  • Maximum rebate amount: ₹60,000

👉 As a result, income up to ₹12 lakh becomes effectively tax-free under the New Regime.

Practical Clarification

  • Tax is first computed as per slab rates

  • If the calculated tax liability is ₹60,000 or less, the rebate completely offsets it

  • Net tax payable becomes Nil

4. Standard Deduction of ₹75,000

Who Can Claim?

  • Salaried employees

  • Pensioners

Deduction Amount

  • A flat standard deduction of ₹75,000 is available under the New Tax Regime

Tax Impact

Due to this deduction:

  • A salaried individual earning up to ₹12,75,000

  • After deducting ₹75,000, taxable income becomes ₹12,00,000

  • 👉 No income tax is payable

This significantly enhances the attractiveness of the New Regime for salaried taxpayers who do not rely heavily on deductions.

5. Health and Education Cess

  • 4% Health and Education Cess

  • Levied on income tax plus surcharge, if any

  • Applicable to all categories of taxpayers without exception

6. Surcharge on Higher Income Levels

Surcharge is levied when total income crosses ₹50 lakh, as per the following structure:

Total Income Surcharge Rate
₹50 lakh – ₹1 crore 10%
₹1 crore – ₹2 crore 15%
₹2 crore – ₹5 crore 25%
Above ₹5 crore 37%

Marginal Relief

Marginal relief is available to ensure that the additional tax payable due to surcharge does not exceed the additional income earned over the threshold limit.

7. Applicability of These Provisions

Applicable To

  • Resident Individuals

  • Salaried taxpayers

  • Pensioners

  • Professionals and business owners opting for the New Tax Regime

Not Applicable / Points of Caution

  • Non-resident individuals (Section 87A rebate not available)

  • Taxpayers with income taxed at special rates (such as lottery winnings or certain capital gains)

  • Individuals who claim substantial deductions under the Old Regime (80C, HRA, housing loan interest, etc.)

8. New Tax Regime vs Old Tax Regime – Practical Comparison

The New Tax Regime is more suitable if:

  • You have minimal deductions

  • You are a salaried taxpayer with a simple salary structure

  • Your annual income is around ₹12–13 lakh

The Old Tax Regime may be preferable if:

  • You claim major deductions under sections 80C, 80D, HRA, or home loan interest

  • You have substantial tax-saving investments

👉 Tip: Always compute tax liability under both regimes before filing your Income Tax Return to choose the most beneficial option.

Smart Reporting and Decision-Making with Easy Smart Shop

Data-driven decisions are critical for business growth. However, many businesses struggle because data is incomplete, inaccurate, or difficult to understand. Easy Smart Shop transforms daily business data into meaningful insights through powerful reports.

Comprehensive Business Reports

Easy Smart Shop provides detailed and easy-to-understand reports covering every area of business.

Reporting Features Include:

  • Sales reports (daily, monthly, yearly)

  • Purchase and expense reports

  • Stock and inventory summaries

  • Customer receivable reports

  • Supplier payable reports

  • Profit & Loss statements

  • Cash book and day book

Easy Analysis for Business Owners

All reports are presented in a structured format, helping business owners quickly identify trends and issues.

Decision-Making Advantages:

  • Identify high-performing products

  • Monitor expenses and control costs

  • Track payment delays

  • Analyze profitability

  • Plan purchases and production better

Accuracy and Transparency

Because all operations are connected—billing, inventory, production, and finance—reports are accurate and reliable. This creates transparency across the business and reduces dependency on manual checks.

Conclusion

Easy Smart Shop is more than an operational tool. It is a business intelligence partner that helps owners understand their business clearly, take timely decisions, and grow with confidence.

Strengthening Customer Relationships and Sales Growth with Easy Smart Shop

In any business, customers are the foundation of success. Managing customer data, tracking sales, following up on payments, and maintaining service quality becomes difficult when records are scattered or manual. Easy Smart Shop helps businesses build stronger customer relationships by organizing everything in one place.

Centralized Customer Management

Easy Smart Shop allows businesses to store complete customer information along with transaction history, outstanding amounts, and follow-up records.

Customer Management Features:

  • Customer profile creation and management

  • Complete sales and payment history

  • Outstanding balance tracking

  • Due payment follow-up reminders

  • Customer-wise reports and summaries

Improved Sales Efficiency

With faster billing, easy quotation creation, and accurate records, businesses can respond quickly to customer requirements.

Sales Support Features:

  • Quick invoice and quotation generation

  • Easy conversion of quotations to invoices

  • Professional documentation

  • Sales summary and performance reports

Business Benefits

  • Faster customer service

  • Improved customer trust

  • Reduced payment delays

  • Better repeat sales

  • Clear visibility of customer behavior

By improving customer handling and communication, Easy Smart Shop helps businesses increase sales and build long-term relationships.

Why Easy Smart Shop Is the Perfect All-in-One Software for Modern Businesses

Managing a business today is more complex than ever. Business owners must handle billing, inventory, customers, suppliers, production, expenses, compliance, and reporting—often all at the same time. Using separate tools or manual registers not only increases workload but also creates chances of errors and delays.

Easy Smart Shop by Swanirmit Technologies is designed to solve these challenges by offering a single, integrated business management platform that is easy to use, reliable, and scalable.

What Makes Easy Smart Shop Different?

Easy Smart Shop is built by understanding real business needs. It focuses on automation, accuracy, and simplicity so that business owners can concentrate on growth instead of daily operational stress.

Key Capabilities of Easy Smart Shop

  • Fast and accurate billing system

  • Real-time inventory management

  • Customer and supplier tracking

  • Quotation and job work management

  • Expense control and financial tracking

  • Production and process monitoring

  • Due payment follow-up system

  • GST-ready reports and compliance support

  • Powerful business reports and analytics

  • Multi-user access with role control

Benefits for Business Owners

  • Saves time by automating routine tasks

  • Reduces manual errors and paperwork

  • Improves operational transparency

  • Enhances customer service with faster billing

  • Helps in better financial planning

  • Supports business growth with reliable data

Easy Smart Shop is suitable for retailers, wholesalers, distributors, manufacturers, factories, and service-based businesses. Whether the business is small or growing, the software adapts to changing needs.

In short, Easy Smart Shop is not just software—it is a complete digital backbone for your business.

The Supreme Court has fixed the maximum TDS on foreign remittances at 10%, stating that provisions of the Income Tax Act cannot prevail over those in the DTAA.

New Delhi: The Supreme Court on Tuesday ruled that tax deducted at source (TDS) on payments made to non-resident entities cannot exceed the 10% limit prescribed under various Double Tax Avoidance Agreements (DTAAs). Any higher demand raised by the income tax authorities would therefore be contrary to treaty provisions.

The Court dismissed appeals filed by the income tax department, which had sought a 20% TDS rate from IT companies such as Mphasis, Wipro, and Manthan Software Services. The department’s position was that a higher rate should apply when the foreign recipient does not provide a permanent account number (PAN), as required under Section 206AA of the Income Tax Act, 1961.

The Supreme Court held that the TDS provisions under the Income Tax Act must be interpreted in conjunction with the DTAA, and that when a foreign recipient qualifies for treaty benefits, the tax deduction cannot exceed the DTAA’s specified ceiling—often 10%.

Affirming a 2022 judgment of the Karnataka High Court, the bench stated that the DTAA rate takes precedence over Section 206AA. Any interpretation permitting tax authorities to levy more than the treaty rate would be inconsistent with the statutory framework, the Court noted.

This position aligns with the Supreme Court’s 2023 affirmation of a Delhi High Court ruling from July 2022, which also held that Section 206AA cannot override DTAA provisions.

The revenue department had earlier argued that a survey conducted under Section 133A(2A) revealed remittances made to non-residents without appropriate TDS. According to the department, failure to furnish a PAN automatically triggered the 20% TDS rate under Section 206AA(1)(iii).

During the proceedings, the IT companies contended that their payments were for technical services rendered by foreign entities and were subject to the beneficial tax rates outlined under the respective DTAAs.

Exclusive: MCA may remove mandatory audits for companies with turnover up to ₹1 crore.

1. Concise Rewritten Version

The Ministry of Corporate Affairs (MCA) is considering exempting companies with annual turnover up to ₹1 crore from mandatory statutory audits, signalling a major change in compliance norms under the Companies Act, according to people familiar with the discussions.

The proposed exemption, likely to be brought in through an amendment to Section 139 during the upcoming Winter Session of Parliament, would mark the first turnover-based relaxation in India’s statutory audit framework. Currently, every company—regardless of scale—must appoint an auditor and undergo a yearly statutory audit.

A person directly involved in the deliberations noted that audits of very small enterprises “rarely uncover significant issues and offer limited practical benefit,” adding that most micro-company audit reports “tend to be clean and do little to enhance oversight, while adding to compliance expenses.”

ETCFO’s query to the MCA seeking clarification remained unanswered at the time of publication.

As per existing law, statutory audits underpin the preparation of financial statements, annual general meetings and filings such as AOC-4 with the Registrar of Companies. The requirement applies equally to one-person companies, small companies and closely held private firms.

A former ICAI president cautioned that aligning the ₹1 crore turnover limit with the tax-audit exemption under the Income Tax Act could create a compliance gap. “If companies up to ₹1 crore are exempt from both tax and statutory audits, what mechanism will ensure financial reporting reliability?” he asked.

He further warned that removing the statutory audit for micro-enterprises could reduce transparency in accounting and weaken compliance discipline at the lower end of the corporate ecosystem.

The proposal is still under review, with the draft amendment expected to attract considerable attention once tabled in the Winter Session of Parliament.

2. Neutral News Reporter Style

The Ministry of Corporate Affairs (MCA) is expected to offer statutory audit exemptions to companies with annual turnover up to ₹1 crore, a move that would significantly alter current compliance requirements under the Companies Act, according to sources who spoke to ETCFO on condition of anonymity.

The change is likely to be introduced by amending Section 139 during the Winter Session of Parliament. If approved, it will be the first audit-related relaxation linked to turnover. Presently, all companies, irrespective of size, must appoint an auditor and undergo a statutory audit annually.

A government official involved in the deliberations said that audits of micro-enterprises “seldom bring up material findings and offer limited real value,” pointing out that most such reports “are clean and do not substantially enhance oversight, but do increase compliance costs.”

Emails sent by ETCFO to the MCA seeking responses remained unanswered.

Under existing provisions, statutory audits form the foundation for preparing financial statements, convening AGMs and submitting filings such as AOC-4 to the Registrar of Companies. The requirement applies equally to OPCs, small companies and private entities.

A former ICAI president told ETCFO that extending the ₹1 crore threshold—which already exists under the Income-tax Act for tax-audit exemption—to statutory audits could lead to a regulatory gap. “If both audits are exempted, how will the integrity of financial reporting be ensured?” he asked.

He also cautioned that eliminating statutory audit for micro-level companies may reduce visibility into accounting practices and weaken compliance discipline.

The proposal is still being examined, and the draft amendment is expected to draw significant attention once placed before Parliament during the Winter Session.

3. Detailed Paraphrased Version (Closer to Original but Fully Rewritten)

The Ministry of Corporate Affairs (MCA) is weighing a proposal to exempt companies with annual turnover of up to ₹1 crore from the mandatory statutory audit requirement, representing a major shift in the Companies Act’s compliance architecture, according to people with direct knowledge of the matter who spoke to ETCFO anonymously.

This exemption is likely to be introduced through an amendment to Section 139 during the forthcoming Winter Session of Parliament and would be the first time India considers a turnover-based relaxation in its statutory audit system. Currently, all companies—regardless of their scale or structure—must appoint statutory auditors and undergo yearly audits.

A government official engaged in the consultation process said that audits of micro-level companies “rarely surface any substantial irregularities and offer minimal practical benefit,” adding that most such audit reports “tend to be unqualified and don’t significantly improve oversight, even though they increase compliance expenditure.”

Queries sent by ETCFO to the MCA remained unanswered at the time of going to press.

Under the present legal framework, statutory audits serve as the foundation for preparing financial statements, conducting AGMs and submitting various filings, including AOC-4, to the Registrar of Companies. The audit mandate applies uniformly to OPCs, small companies and private limited firms.

A past president of the Institute of Chartered Accountants of India (ICAI) warned that raising the ₹1 crore threshold—already used for tax-audit exemption under the Income-tax Act—to statutory audits could result in a regulatory gap. “If both tax audit and statutory audit are waived for companies up to ₹1 crore turnover, how will the credibility of financial reporting be safeguarded?” he asked.

He also expressed concern that removing statutory audits for small firms could reduce accountability and weaken compliance behaviour within the lower segment of the corporate sector.

The proposal is still under active discussion, and the draft amendment is expected to attract significant debate once presented in Parliament’s Winter Session.

Updated Tax Rates Applicable to Individuals, HUFs, Firms, Companies and Co-operative Societies for FY 2025-26 & AY 2026-27

The Income-tax framework for Assessment Years 2025–26 and 2026–27 introduces updated slab rates, surcharge rules, cess applicability, and special concessional regimes for various categories of taxpayers. This consolidated guide provides a structured and up-to-date reference of the tax rates applicable to Individuals, HUFs, AOPs, BOIs, Firms, LLPs, Companies, Co-operative Societies, and Local Authorities. It also summarises key provisions relating to AMT, MAT, rebate under Section 87A, and concessional tax regimes under Sections 115BAC, 115BAA, 115BAB, 115BAD, and 115BAE.
The objective of this document is to offer a clear and reliable snapshot of the statutory tax structure as amended by the Finance Act, 2025.

Tax Rates

1. Individuals (Resident or Non-resident), HUFs, AOPs, BOIs, and Other Artificial Juridical Persons

a. Individuals (Other than Resident Senior or Super Senior Citizens)

Net Income Range AY 2026–27 AY 2025–26
Up to ₹2,50,000 Nil Nil
₹2,50,000 to ₹5,00,000 5% 5%
₹5,00,000 to ₹10,00,000 20% 20%
Above ₹10,00,000 30% 30%

b. Resident Senior Citizens

(60 years or more but less than 80 years during the previous year)

Net Income Range AY 2026–27 AY 2025–26
Up to ₹3,00,000 Nil Nil
₹3,00,000 to ₹5,00,000 5% 5%
₹5,00,000 to ₹10,00,000 20% 20%
Above ₹10,00,000 30% 30%

c. Resident Super Senior Citizens

(80 years or more during the previous year)

Net Income Range AY 2026–27 AY 2025–26
Up to ₹5,00,000 Nil Nil
₹5,00,000 to ₹10,00,000 20% 20%
Above ₹10,00,000 30% 30%

d. Hindu Undivided Family (Including AOPs, BOIs, and Other Artificial Juridical Persons)

Net Income Range AY 2025–26 AY 2024–25
Up to ₹2,50,000 Nil Nil
₹2,50,000 to ₹5,00,000 5% 5%
₹5,00,000 to ₹10,00,000 20% 20%
Above ₹10,00,000 30% 30%

Surcharge

Surcharge is levied on the amount of income tax at the following rates when the total income exceeds the specified thresholds:

Total Income Range Surcharge Rate
₹50 lakh to ₹1 crore 10%
₹1 crore to ₹2 crore 15%
₹2 crore to ₹5 crore 25%
Above ₹5 crore 37%

Important Note:

  1. The higher surcharge rates of 25% and 37% do not apply to:

    • Dividend income

    • Income taxable under Sections 111A, 112, 112A, and 115AD(1)(b)

  2. For such incomes, the maximum surcharge is capped at 15%.

    (3) Surcharge Exemption for Specified Funds

    No surcharge is applicable if the total income of a ‘specified fund’ (as defined under Section 10(4D)) includes income from securities referred to in Section 115AD(1)(a).

    Marginal Relief – Conditions and Application

    Marginal relief is provided so that the increase in tax liability (including surcharge) is not disproportionately higher than the increase in income. It applies as follows:

    1. Income above ₹50 lakh and up to ₹1 crore:
      The tax plus surcharge should not exceed the tax payable on ₹50 lakh by more than the amount by which the income exceeds ₹50 lakh.

    2. Income above ₹1 crore and up to ₹2 crore:
      The combined tax and surcharge cannot be more than the tax payable on ₹1 crore plus the income exceeding ₹1 crore.

    3. Income above ₹2 crore and up to ₹5 crore:
      Total tax liability (tax + surcharge) shall not exceed the tax on ₹2 crore by more than the additional income above ₹2 crore.

    4. Income exceeding ₹5 crore:
      The tax plus surcharge should not go beyond the tax payable on ₹5 crore by more than the income exceeding ₹5 crore.

    b. Health and Education Cess

    A cess of 4% is charged on the total of income-tax plus surcharge.

    Exceptions:

    1. No cess is levied on a specified fund (Section 10(4D)) if its income includes securities income covered under Section 115AD(1)(a).

    2. A resident individual with taxable income up to ₹5,00,000 is eligible for rebate under Section 87A, reducing their income-tax liability (before cess) by 100% of tax or ₹12,500, whichever is lower.

    Alternate Minimum Tax (AMT)

    AMT applies when the regular tax payable is less than 18.5% of the adjusted total income. In such cases, tax is computed at 18.5% of adjusted total income.

    For non-corporate taxpayers who are units in an IFSC and earn solely in foreign exchange, AMT is charged at a reduced rate of 9% (plus applicable cess and surcharge).

    1.1 Special Tax Rates for Individuals, HUFs, AOPs, BOIs, and AJPs

    Section 115BAC offers an optional lower tax rate regime (now the default regime). To opt for this structure, the taxpayer must forego various deductions and exemptions.

    Tax Slabs – Assessment Year 2025–26

    Net Income Tax Rate
    Up to ₹3,00,000 Nil
    ₹3,00,001 – ₹7,00,000 5%
    ₹7,00,001 – ₹10,00,000 10%
    ₹10,00,001 – ₹12,00,000 15%
    ₹12,00,001 – ₹15,00,000 20%
    Above ₹15,00,000 30%

    Tax Slabs – Assessment Year 2026–27

    Net Income Tax Rate
    Up to ₹4,00,000 Nil
    ₹4,00,001 – ₹8,00,000 5%
    ₹8,00,001 – ₹12,00,000 10%
    ₹12,00,001 – ₹16,00,000 15%
    ₹16,00,001 – ₹20,00,000 20%
    ₹20,00,001 – ₹24,00,000 25%
    Above ₹24,00,000 30%

    Additional Tax Components

    a. Surcharge

    Surcharge is imposed on income-tax based on the total income:

    Income Range Surcharge Rate
    ₹50 lakh – ₹1 crore 10%
    ₹1 crore – ₹2 crore 15%
    ₹2 crore – ₹5 crore 25%
    Above ₹5 crore 37%

    Notes:

    • The 25% surcharge is not applicable to dividend income or incomes taxed under Sections 111A, 112, 112A, and 115AD(1)(b). For such incomes, the surcharge cannot exceed 15%.

    • If an AOP has only corporate members, surcharge is capped at 15%.

    • Specified funds under Section 10(4D) with eligible securities income have no surcharge.

    Marginal Relief under New Regime

    Provided similarly as in the old regime:

    • Ensures tax + surcharge does not exceed tax on the threshold (₹50 lakh / ₹1 crore / ₹2 crore) by more than the excess income above that threshold.

    Health & Education Cess (New Regime)

    A cess of 4% is charged on tax plus surcharge, except when the taxpayer is a specified fund covered under Section 115AD(1)(a).

    Important Notes

    (a) Rebate under Section 87A

    • Up to AY 2025–26:
      Residents opting for Section 115BAC(1A) and having income up to ₹7,00,000 get a rebate up to ₹25,000.

    • From AY 2026–27:
      Rebate increased to ₹60,000 for residents with income up to ₹12,00,000 under Section 115BAC(1A).
      Rebate cannot exceed the actual tax computed.

    (b) Marginal Rebate (AY 2026–27 onwards)

    If income slightly exceeds ₹7 lakh or ₹12 lakh (as applicable), rebate is adjusted (marginal relief) so that:

    • The tax payable does not exceed the amount by which income exceeds the threshold.

    (c) AMT Exemption under New Regime

    Taxpayers opting for the new regime under Section 115BAC(1A) are not subject to AMT provisions.

    2. Partnership Firm

    A partnership firm, including an LLP, is taxed at a flat rate of 30%.

    Add-On Taxes

    (a) Surcharge
    If the total income exceeds ₹1 crore, surcharge is charged at 12% of the income-tax.
    However, marginal relief applies so that the total tax plus surcharge does not exceed the tax payable on ₹1 crore by more than the income above ₹1 crore.

    (b) Health & Education Cess
    A cess of 4% is levied on the total of income-tax plus surcharge.

    Alternate Minimum Tax (AMT)

    AMT applies when the regular tax is less than 18.5% of adjusted total income. In such cases, tax is computed at 18.5% on the adjusted total income.

    For non-company assessees operating as units in an IFSC and earning exclusively in convertible foreign exchange, AMT is reduced to 9% (plus surcharge and cess).

    3. Local Authority

    A local authority is taxable at a 30% rate.

    Add-On Taxes

    (a) Surcharge
    If income exceeds ₹1 crore, surcharge at 12% is applied, subject to marginal relief so that tax plus surcharge does not exceed the tax on ₹1 crore by more than the excess income.

    (b) Health & Education Cess
    Cess at 4% is charged on income-tax plus surcharge.

    Alternate Minimum Tax (AMT)

    AMT applies when regular tax is less than 18.5% of adjusted total income, making 18.5% the effective tax rate.

    For companies located in an IFSC and earning solely in foreign exchange, AMT is 9%.

    4. Domestic Company

    The tax rates for domestic companies for AY 2025–26 and 2026–27 are as follows:

    Category AY 2026–27 AY 2025–26
    Company with turnover ≤ ₹400 crore in the relevant previous year 25% (PY 2023–24) 25% (PY 2022–23)
    Any other domestic company 30% 30%

    Add-On Taxes

    (a) Surcharge

    • 7% if total income > ₹1 crore but ≤ ₹10 crore

    • 12% if income exceeds ₹10 crore
      Subject to marginal relief ensuring:

      • For income between ₹1–10 crore: tax + surcharge ≤ tax on ₹1 crore + excess income

      • For income > ₹10 crore: tax + surcharge ≤ tax on ₹10 crore + excess income

    (b) Health & Education Cess
    Cess at 4% on income-tax plus surcharge.

    Minimum Alternate Tax (MAT)

    MAT applies when normal tax is less than 15% of book profit. Tax is then computed at 15% of book profit.

    For IFSC units earning exclusively in convertible foreign exchange, MAT rate is 9%.

    4.1 Special Tax Rates for Domestic Companies

    Certain concessional corporate tax regimes are available:

    Section Particulars Tax Rate
    115BA Optional scheme for certain manufacturing companies 25%
    115BAA Concessional regime without incentives/deductions 22%
    115BAB For new manufacturing companies satisfying notified conditions 15%

    Surcharge & Cess

    • For 115BAA and 115BAB, surcharge is a flat 10%, regardless of income level.

    • Health & Education Cess applies at 4%.

    MAT Applicability

    • Companies choosing 115BAA or 115BAB are exempt from MAT.

    • MAT continues to apply where 115BA is chosen.

    5. Foreign Company

    Applicable income-tax rates for AY 2025–26 and 2026–27:

    Type of Income Tax Rate
    Royalty or technical service fees per agreements entered within the eligible historical period (with Central Government approval) 50%
    All other income 35%

    Add-On Taxes

    (a) Surcharge

    • 2% when income exceeds ₹1 crore but ≤ ₹10 crore

    • 5% when income exceeds ₹10 crore
      Marginal relief ensures the surcharge does not create a disproportionate tax burden beyond the excess income.

    (b) Health & Education Cess
    4% cess on income-tax plus surcharge.

    Minimum Alternate Tax (MAT)

    MAT is levied at 15% of book profit, unless the foreign company:

    • Has no permanent establishment (PE) in India, or

    • Is taxed under presumptive schemes: Sections 44B, 44BB, 44BBA, 44BBB.

    In such cases, MAT does not apply.

    6. Co-operative Society

    Tax slabs for AY 2025–26 and 2026–27:

    Taxable Income Rate
    Up to ₹10,000 10%
    ₹10,000–₹20,000 20%
    Above ₹20,000 30%

    Add-On Taxes

    (a) Surcharge

    • 7% when income > ₹1 crore but ≤ ₹10 crore

    • 12% when income > ₹10 crore
      Subject to marginal relief.

    (b) Health & Education Cess
    4% on tax plus surcharge.

    Alternate Minimum Tax (AMT)

    AMT at 15% of adjusted total income applies if normal tax is lower.
    For IFSC units earning solely in convertible foreign exchange, AMT is 9%.

    6.1 Optional Tax Regimes for Co-operative Societies

    Co-operatives may opt for concessional regimes subject to eligibility:

    Section Key Conditions Tax Rate
    115BAE New co-op (registered on/after 01-04-2023), engaged in manufacturing, commenced production before 31-03-2024, and does not claim specified deductions 15% (manufacturing income)
    115BAD If the society forgoes specified exemptions/deductions 22%

    Surcharge & Cess

    • Surcharge is 10% flat under both schemes.

    • Health and Education Cess at 4% applies.

    AMT Exemption

    Co-operatives opting for 115BAD or 115BAE are not subject to AMT, and no AMT credit can be computed or carried forward.

Important Update for All Employees! The New Labour Codes 2025 and All Four Revised Labour Laws Are Now in Effect

On 21 November 2025, the Ministry of Labour & Employment announced the long-awaited implementation of all four Labour Codes — a transformative consolidation of 29 Central labour laws into four simplified, modern, and comprehensive Codes:

  1. Code on Wages, 2019
  2. Industrial Relations Code, 2020
  3. Code on Social Security, 2020
  4. Occupational Safety, Health and Working Conditions (OSHWC) Code, 2020

This landmark move modernises India’s labour framework, improves worker protection, simplifies compliance for industries, and aligns India with global labour standards — a major reform supporting Aatmanirbhar Bharat.

 

Why Labour Reforms Were Needed

Most existing labour laws were drafted between 1930 and 1950, when the nature of work, employer–employee relationships, and industry structures were vastly different. Over the years, global economies have consolidated and upgraded their labour laws, but India continued to function under fragmented, outdated, and complex regulations.

Challenges under the old regime included:

  • Multiple registrations and returns
  • Unequal wage protection
  • Limited coverage of PF, ESIC, and social security
  • Restrictions on women’s employment
  • High compliance burden on MSMEs
  • Lack of protection for gig, platform, and fixed-term workers

The new Labour Codes bring a uniform, transparent, and technology-driven labour ecosystem that strengthens both worker welfare and industrial productivity.

Before vs After: Key Transformations Under the Four Labour Codes

The following table summarises the shift from the old system to the new labour regime:

1. Formalisation of Employment

  • Earlier: Appointment letters not mandatory
  • Now: Mandatory written appointment letters for all workers → transparency, job security, formal recognition

2. Social Security Coverage

  • Earlier: Limited coverage; gig/platform workers not recognised
  • Now: PF, ESIC, insurance & other benefits available to all workers, including gig & platform workers

3. Minimum Wages

  • Earlier: Applied only to scheduled industries; many workers excluded
  • Now: Statutory minimum wages for all workers under the Code on Wages

4. Preventive Healthcare

  • Earlier: No mandatory annual check-ups
  • Now: Free annual health check-up for all workers aged 40+

5. Timely Payment of Wages

  • Earlier: No uniform requirement
  • Now: Mandatory timelines for wage payment → enhanced financial stability

6. Women in Workforce

  • Earlier: Restrictions on night shifts and certain occupations
  • Now: Women permitted in all jobs and night shifts with consent & safety measures → equal opportunities

7. ESIC Coverage

  • Earlier: Limited to notified areas & certain industries
  • Now:Pan-India coverage, including:
    • Voluntary for establishments < 10 employees
    • Mandatory for even 1 worker in hazardous units

8. Compliance Burden

  • Earlier: Many licences, separate registrations, multiple returns
  • Now: Single registration, single licence, single return → low compliance burden

Sector-wise Benefits Under the Labour Codes

1. Fixed-Term Employees (FTE)

  • FTEs get all benefits equal to permanent workers
  • Gratuity eligibility after 1 year (instead of 5 years)
  • Equal wages & better protection
  • Encourages direct hiring, reduces contract labour exploitation

2. Gig & Platform Workers

For the first time, the Codes legally define:

  • Gig workers
  • Platform workers
  • Aggregators

Key provisions:

  • Aggregators to contribute 1–2% of annual turnover (capped at 5% of worker payouts)
  • Aadhaar-linked Universal Account Number ensures portability of benefits across states

On 21 November 2025, the Ministry of Labour & Employment officially confirmed that the long-discussed labour law overhaul is now a reality. India has put into force all four new Labour Codes, replacing 29 separate Central labour laws with a unified, updated, and simplified framework. These four Codes are:

  • Wages Code, 2019

  • Industrial Relations Code, 2020

  • Social Security Code, 2020

  • Occupational Safety, Health & Working Conditions Code, 2020

This marks one of the biggest reforms in India’s labour system, aimed at strengthening worker rights, reducing compliance burden for employers, and bringing India’s labour ecosystem in line with international standards—supporting the government’s broader push towards Aatmanirbhar Bharat.

(Click here for the official press release.)

Why Did India Need These New Labour Codes?

For decades, India relied on labour laws written in the early to mid-20th century. These laws were created for an era with different industries, limited technology, and a smaller workforce. As the economy grew, these outdated laws became complex, overlapping, and difficult to comply with.

The old system had several issues:

  • Multiple registrations and numerous return filings

  • Minimum wage inconsistencies across sectors

  • Many workers excluded from PF, ESIC, and social security

  • Restrictions on women’s working hours and roles

  • High compliance costs for small and medium businesses

  • No legal coverage for gig workers, platform workers, or fixed-term employees

By replacing 29 laws with 4 broad codes, the government has created a centralised, transparent, and digitally integrated labour system that benefits both workers and employers.

Before vs After: Key Reforms Under the Labour Codes

1. Job Formalisation

  • Earlier: Appointment letters often not issued

  • Now: Appointment letters are compulsory for all workers → better protection & clarity

2. Wider Social Security Access

  • Earlier: Only workers in certain industries were covered

  • Now: PF, ESIC, maternity and other social security benefits extend to all worker categories, including gig and platform workers

3. Universal Minimum Wage

  • Earlier: Minimum wages applied only to specific scheduled sectors

  • Now: Every worker is entitled to statutory minimum wages

4. Health Benefits

  • Earlier: No rule for regular medical check-ups

  • Now: Annual health check-up is mandatory for workers aged 40+

5. Standard Wage Payment Timelines

  • Earlier: No uniform rule

  • Now: Strict deadlines ensure timely payment of wages

6. More Opportunities for Women

  • Earlier: Women faced restrictions in certain jobs and in night work

  • Now: Women can work across all sectors, including night shifts, with consent and safety measures

7. ESIC for All Regions

  • Earlier: ESIC limited to notified areas

  • Now: ESIC available across the country, including:

    • Voluntary coverage for units with <10 workers

    • Mandatory for hazardous establishments even with 1 worker

8. Simpler Compliance Structure

  • Earlier: Many licences, registrations and separate returns

  • Now: Single registration, single licence, single return → easier compliance for businesses

Who Benefits the Most?

1. Fixed-Term Employees (FTEs)

  • Same benefits as permanent staff

  • Eligible for gratuity after 1 year

  • Equal wages and protections

  • Promotes direct hiring instead of contract labour

2. Gig Workers & Platform Workers

For the first time, these categories are legally recognised.

Key features:

  • Aggregator platforms must contribute 1–2% of turnover to social security (capped at 5% of payouts)

  • Workers get Aadhaar-linked Universal Account Numbers ensuring portability of benefits

3. Contract Workers

  • Contract labour will now receive the same social security and health-related benefits as permanent employees.

  • Annual medical check-ups are compulsory.

  • Fixed-Term Employees (FTEs) become eligible for gratuity after completing just one year.

  • The primary employer is accountable for ensuring contractor workers’ welfare.

4. Women Workers

  • Equal pay for equal work is mandated across sectors.

  • Women can work in night shifts, hazardous environments, mining, and heavy machinery—subject to their consent and adequate safety protocols.

  • The definition of “family” now includes parents-in-law.

  • Every workplace grievance committee must include women representatives.

5. Young Workers

  • Minimum wages are guaranteed for youth entering the workforce.

  • Written appointment letters are compulsory.

  • Wages must be paid even when the worker is on leave.

  • A national floor wage ensures a decent standard of living.

6. MSME Workforce

  • All MSME workers fall under the Social Security Code.

  • Minimum wage protection is universal.

  • Employers must provide drinking water, rest spaces, canteens, and basic safety measures.

  • Working hours, overtime rules, and paid leave are standardised.

  • Timely payment of wages is mandatory.

7. Beedi & Cigar Workers

  • Minimum wages apply to all workers in the sector.

  • Working hours capped at 8–12 hours per day and 48 hours weekly.

  • Overtime must be paid at double the regular wage rate.

  • Workers become eligible for bonus after 30 days of employment.

8. Plantation Workers

  • Fully covered under the OSHWC and Social Security Codes.

  • Applicable to plantations with over 10 workers or 5 hectares+.

  • Mandatory safety training, PPE, and safe working conditions.

  • ESIC benefits extend to workers and their families.

  • Education facilities for workers’ children are required.

9. Audio-Visual & Media Personnel

  • Covers journalists, voice artists, stunt performers, and more.

  • Appointment letters are obligatory.

  • Wages must be paid promptly.

  • Overtime compensation at double wages.

  • Full social security coverage is ensured.

10. Mine Workers

  • Travel-related accidents are treated as employment-related (subject to conditions).

  • National occupational safety standards apply.

  • Annual free medical check-ups for all mine workers.

  • Work hours capped at 8–12 hours/day, 48 hours/week.

11. Workers in Hazardous Industries

  • Free annual medical examinations are compulsory.

  • Uniform national safety guidelines must be followed.

  • Women can be employed even in hazardous roles with safeguards.

  • Safety committees must be set up at every hazardous site.

12. Textile Sector Employees

  • Migrant and permanent workers receive equal wages and welfare benefits.

  • Claims for outstanding dues can be filed up to 3 years.

  • Overtime payments are mandatory at double the wage rate.

13. IT & ITeS Employees

  • Salaries must be credited no later than the 7th of every month.

  • Women are permitted night shifts with adequate protection.

  • Grievances on wages and harassment must be resolved swiftly.

  • Appointment letters and equal pay for equal work are compulsory.

14. Dock Workers

  • Appointment letters required for every worker.

  • PF, pension, and insurance benefits apply to contract and temporary workers as well.

  • Employers must fund annual medical check-ups.

  • Hygiene, welfare, and first-aid facilities are mandatory.

15. Export Industry Workers

  • Fixed-term workers entitled to gratuity, PF, and other social security benefits.

  • Eligible for annual leave after 180 days of service.

  • Timely wage payment is compulsory; overtime paid at double the rate.

  • Women can work night shifts with their consent and safety measures.

Additional Major Reforms Under the Labour Codes

  • Introduction of a National Floor Wage across India.

  • Gender-neutral provisions, including protections for transgender workers.

  • Inspector-cum-Facilitator model promoting support before penalties.

  • Faster dispute settlement through upgraded Industrial Tribunals.

  • One licence and one registration for working condition compliance.

  • National OSH Board for safety standard-setting.

  • Mandatory safety committees for establishments with 500+ workers.

  • Higher factory thresholds to ease compliance for smaller units.

Transitional arrangements ensure that earlier laws will continue until notifications under the new Codes are fully operational.

Impact on India’s Social Security Framework

India’s social security coverage increased from 19% (2015) to 64% (2025). The new Codes further strengthen this by ensuring:

  • Universal and portable social security benefits

  • Protection for gig workers, platform workers, migrant labour, women, and young workers

  • Reduced compliance burden on employers

  • Improved job creation and workforce skilling

Conclusion

The implementation of the four Labour Codes is the most significant labour policy transformation in India’s history. It modernises labour governance, enhances worker rights, simplifies compliance for industries, and prepares the workforce for the demands of a fast-evolving economy. This progressive shift strengthens a worker-centric, youth-focused, gender-equal, and employment-driven ecosystem—accelerating India’s path toward a stronger, future-ready, and self-reliant nation.