Income Tax - Explore the meaning and definition of Section 2(14) Capital Assets, including FAQ's, case laws, and exemptions. Learn how it applies to agricultural land and its tax implications....
Income Tax - Discover income tax benefits enjoyed by senior and super senior citizens under Income Tax Act of 1961, from higher deductions to special rates....
Income Tax - Article discusses about Deduction in respect of Life Insurance Premium, PPF, NSC, etc. [Section 80C]/ medical insurance premium [Section 80D]/ expenditure on training/ medical treatment of a dependent, being a person with disability [Section 80DD]/ expenditure on medical treatment of specified diseases [Section 80DDB], Amount of deduction...
Income Tax - Advocating for an increase in the limit of expenditure on treatment under Section 80DDB of the Income Tax Act. Discover why the current limits are inadequate for taxpayers....
Income Tax - Annual Information Statement and Taxpayers Information Summary are two of the new statements recently introduced by the Income Tax department. The information reflected under the Annual Information Statement is categorized under 50 different information categories. One such information category is ‘Receipts from life insurance policy’...
Income Tax - ne of the pillars of the of the taxation proposals included in the Finance Minister’s budget speech for 2015-16 was extension of benefits to the middle class. In this process the Finance Minister announced extension of certain benefits in respect of medical treatment under section 80DDB. This section allows a deduction for expenditure i...
Notification No. 78/2015 - Income Tax - (12/10/2015) - Notification No. 78/2015 - Income Tax The prescription in respect of the diseases or ailments specified in sub-rule (1) shall be issued by the following specialists:- (a) for diseases or ailments mentioned in clause (i) of sub-rule (1) - a Neurologist having a Doctorate of Medicine (D.M.) degree i...