Taxinfo.inMar 14, 20192 minComplete Guide on Rebate under Section 87A to IndividualsEligible Person Rebate under Section 87A is allowed only to individuals resident in India whose total taxable income is below the specified limits. Please no...
Taxinfo.inJul 10, 20181 minDeduction in respect of medical treatment etc – Section 80DDBEligible Assessee Resident individual (whether Indian Citizen or not) or Resident HUF Deduction is allowed for the expenditure incurred for medical treatmen...
Taxinfo.inJul 8, 20182 minSection 80TTA – Deduction of Interest from Savings AccountEligible Assessee Individual or HUF (Whether resident or non resident). No benefit is available to partnership firms, company, LLP, AOP etc. If the individua...
Taxinfo.inJun 29, 20181 minContribution to Certain Pension Funds – Section 80CCCEligible assesse – Individual Under this section deduction is allowed if assesse has paid or deposited an amount in any annuity plan of the LIC of India or ...
Taxinfo.inJun 12, 20181 minSection 80U – Deduction in case of Person with DisabilityThis guide is applicable for Financial year 2017-18 (A.y 2018-19) An individual suffering from disability himself gets tax benefit under section 80U while an...
Taxinfo.inJun 11, 20182 minDeduction in respect handicapped dependant – Section 80DDEligible Assesse – Resident individual or resident HUF (may be ordinarily resident or not ordinarily resident) Deduction is available in respect of – Expendi...
Taxinfo.inJun 11, 20187 minDeduction for Donations – Section 80GEligible Assessee – All assessees including NRI’s Mode of Payment – If any donation is made for amount exceeding Rs. 10,000 in cash then deduction is not all...
Taxinfo.inJun 10, 20182 minIncome Tax Deduction for Interest on Education Loan – Section 80EDeduction under Section 80E is allowed under Income Tax for interest paid on student loan taken for higher education. The deduction is allowed to encourage u...
Taxinfo.inJun 9, 20181 minExtra Deduction of Rs. 50,000 on Home Loan Interest – Section 80EEFinance Act, 2016 has introduced deduction of interest payable on housing loan for first time home buyers taken from any financial institution over and above...
Taxinfo.inJun 9, 20186 minRajiv Gandhi equity savings scheme – Section 80CCGThis section is inserted by Finance Act,2012 and is applicable from Assessment Year 2013-14. Eligible Assesee – Resident Individual who is a new retail inves...
Taxinfo.inJun 6, 20185 minInsurance, PPF, Repayment of Loan and other Deductions – Section 80CEligible Assessee – Individual and HUF Maximum amount of Deduction – A maximum of Rs. 1,50,000 is allowed as deduction under sections 80C, 80CCC, 80CCD(1) ag...
Taxinfo.inMay 15, 20183 minSection 80D – Deduction of Medical Insurance PremiumThis information is applicable for Assessment Year 2016-17 The following conditions should be satisfied for claiming deduction under section 80D. Assessee sh...
Taxinfo.inMay 12, 20181 minSection 80TTB – Deduction of Interest to Senior CitizensThis section is inserted in budget 2018 and is applicable from financial year 2018-19. When a senior citizen receives interest on deposits with a bank a co-o...
Taxinfo.inJan 8, 20187 minNational Pension Scheme – Section 80CCDNational Pension Scheme (NPS) is launched with the objective of providing retirement income to the government employees on 01st January 2004. It is a governm...
