UNION BUDGET 2017 Click Here

Analysis of Union Budget 2017 provisions of Income Tax Service Tax Excise Duty Custom Duty with Budget Highlights Commentary Speech, Notification, News & Articles.

Section 80CCD - Page 2

Budget 2016: Expectations from the Finance Minister

Raising the limit for eligible deduction under Section 80C, 80CCC and 80CCD- Presently the Section 80 CCE provides for a cap of Rs. 1.50 lacs for deduction available under Section 80C, 80CCC and 80 CCD(1) taken together. The present limit of Rs. 1.50 lacs was raised from Rs. 1 lacs in the budget of 2014. The erstwhile limit of Rs. 1 lacs ...

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How to Open NPS Account Online and Tax Benefits

Guidelines for Online Registration NPS Trust welcomes you to ‘eNPS’ ,which will facilitate:- ➤  Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) ➤  Making initial and subsequent contribution to your Tier I as well as Tier II account To open an Individual Pension account online. ✔  ...

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Income Tax provisions – Individual Salaried for A.Y 2015-16

The article covers Introduction, Residential Status, Tax Rates, Head-wise Taxation & Deduction available under the Act. Hope you will find it useful in this Return Filing Season....

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Posted Under: Income Tax |

Income Tax Deduction Under section 80CCC and 80CCD

As per section 80CCC, where an assessee being an individual has in the previous year paid or deposited any amount out of his income chargeable to tax to effect or keep in force a contract for any annuity plan of Life Insurance Corporation of India or any other insurer for receiving pension from the Fund referred to in clause (23AAB) of se...

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Income Tax Deductions for A.Y. 2014-15/ 2015-16 for Salaried

The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of the Income Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former ar...

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Union Budget 2015 – Key takeaways for individuals

The expectation from the Government was to reduce the tax burden for overall middle class, however there was no alteration in the income tax slabs, only some additional deductions are been introduced in the budget. The Finance Minister has said that individuals can now increase its non-taxable income close to Rs 450,000 a year if they pla...

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Sec. 80CCD- Additional deduction for National Pension System contribution

Budget 2015-16 Additional deduction under Section 80CCD Under the existing provisions contained in sub-section (1) of section 80CCD of the Income-tax Act, 1961 if an individual, employed by the Central Government on or after 1st January, 2004, or being an individual employed by any other employer, or any other assessee being an individual...

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