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Income Tax Deductions

Income Tax Tax Deductions related News, Article, Notification, Judgments covering all section Including Section 80C, 80D, 80TTA, 80HHC, 80JJA

Latest Articles


Is NPS Investment Under Section 80CCD Worth it for Salaried Individuals/HUFs?

Income Tax : Explore the worthiness of investing in NPS under Section 80CCD deduction for salary individuals/HUFs. Learn about tax benefits, re...

April 16, 2024 750 Views 0 comment Print

Deductions under Section 80: A Pathway to Tax Savings for Individuals and Businesses

Income Tax : The Income Tax Act's Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most import...

April 15, 2024 14559 Views 0 comment Print

Understanding potential of section 80CCD New Pension Scheme

Income Tax : Understand the potential of Section 80CCD New Pension Scheme and maximize your tax savings. Learn about deductions for employees a...

April 5, 2024 1017 Views 0 comment Print

TOP 7 Tax Saving Options Other Than 80C- For FY 2023-24

Income Tax : Explore top tax-saving options beyond Section 80C for FY 2023-24, including NPS, health insurance premiums, medical expenses, home...

March 29, 2024 9324 Views 0 comment Print

Section 80IAC-  Tax Holidays for Startups recognized by DPIIT

Income Tax : Discover how startups can benefit from tax holidays under Section 80-IAC recognized by DPIIT. Learn eligibility, benefits, and the...

March 5, 2024 927 Views 0 comment Print


Latest News


Deduction U/s 35AC available only up to previous year ending 31-03-2017

Income Tax : Section 35AC of the Income Tax Act, as amended by the Finance Act, 2016, provides that no deduction under this section shall be al...

August 19, 2016 14386 Views 9 comments Print

Govt. Plan to phase out deductions under Income-tax Act, 1961

Income Tax : Press Information Bureau Government of India Ministry of Finance 26-November-2015 09:44 IST Date for sending comments by the stake...

November 26, 2015 3968 Views 0 comment Print

CBDT makes Claiming of medical expenditure for tax purposes easy

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...

October 14, 2015 7105 Views 1 comment Print

RGESS – Period, Income Limit Liberalised, Allowed to Invest in MF

Income Tax :  Expanding the scope of deduction and its eligibility u/s. 80CCG The existing provisions of section 80CCG, inter-alia, provide th...

February 28, 2013 2139 Views 0 comment Print

LIC Jeevan Sugam – New Single premium plan

Finance : LIC’s Jeevan Sugam is a non-linked single premium plan wherein the risk cover is a multiple of premium paid by you. On maturity ...

February 27, 2013 13959 Views 0 comment Print


Latest Judiciary


Deduction u/s. 80IC eligible on addition u/s. 68 of unsubstantiated share capital: Delhi HC

Income Tax : Delhi High Court held that benefit of deduction under section 80IC of the Income Tax Act available even in case of addition of uns...

April 5, 2024 192 Views 0 comment Print

Co-Op society eligible for section 80P(2)(a)(i) deduction on compulsory investment with Central Co-op Bank  

Income Tax : In the case of Kalika Parameswari Co-op Society vs. ITO, ITAT Bangalore allows deduction under Section 80P(2)(a)(i) for interest i...

March 19, 2024 279 Views 0 comment Print

Form 10BA filing Mandatory to claim Section 80GG Deduction: ITAT Bangalore

Income Tax : ITAT Bangalore rules that submission of Income Tax Form No. 10BA is necessary for claiming deduction under Section 80GG. Details o...

March 15, 2024 480 Views 0 comment Print

Section 80P(2)(a)(i) deduction eligible on Income from Loans to Nominal Members

Income Tax : ITAT Bangalore rules income from credit facilities to nominal members of a Co-operative Society exempt under Section 80P(2)(a)(i) ...

March 3, 2024 846 Views 0 comment Print

Return Filing Mandatory for claiming Section 80P Deduction: ITAT Bangalore

Income Tax : ITAT Bangalore rules deduction under Section 80P of Income Tax Act requires filing of return of income, dismissing Madhu Souharda ...

March 3, 2024 849 Views 0 comment Print


Latest Notifications


NFRA Penalizes CA Rs 50 Lakhs for Misconduct in Section 80JJA Report

Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...

January 3, 2024 50994 Views 0 comment Print

Tax Deduction Relaxation for Ship Lease in IFSC: Income Tax Notification 57/2023

Income Tax : Check out Income Tax Notification 57/2023 issued by the Ministry of Finance, offering tax deduction relaxation for ship lease paym...

August 1, 2023 1278 Views 0 comment Print

Income Tax Circular: Condonation of Delay for Deduction u/s 80P

Income Tax : Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80...

July 26, 2023 4800 Views 0 comment Print

CBDT amends Income-tax Rules for Provisional Approval under Section 80G

Income Tax : CBDT issued Notification No. 34/2023-Income Tax, dated May 30, 2023 & introduces amendments to rule 11AA of Income-tax Rules, ...

May 30, 2023 10725 Views 0 comment Print

CBDT allows donations to PM cares fund through form 16

Income Tax : Submission of certificate for claiming deductions U/s. 80G of the Income-tax Act, 1961 in respect of donation made by an employee ...

April 9, 2020 8712 Views 0 comment Print


Latest Posts in Income Tax Deductions

Is NPS Investment Under Section 80CCD Worth it for Salaried Individuals/HUFs?

April 16, 2024 750 Views 0 comment Print

Explore the worthiness of investing in NPS under Section 80CCD deduction for salary individuals/HUFs. Learn about tax benefits, registration process, and investment options.

Deductions under Section 80: A Pathway to Tax Savings for Individuals and Businesses

April 15, 2024 14559 Views 0 comment Print

The Income Tax Act’s Section 80, which gives taxpayers several deductions to lower their taxable income, is one of its most important parts. Since its enactment, Section 80 has undergone multiple amendments and additions.

Understanding potential of section 80CCD New Pension Scheme

April 5, 2024 1017 Views 0 comment Print

Understand the potential of Section 80CCD New Pension Scheme and maximize your tax savings. Learn about deductions for employees and employers, practical examples, and more.

Deduction u/s. 80IC eligible on addition u/s. 68 of unsubstantiated share capital: Delhi HC

April 5, 2024 192 Views 0 comment Print

Delhi High Court held that benefit of deduction under section 80IC of the Income Tax Act available even in case of addition of unsubstantiated share capital into the account of the assessee under Section 68 of the Act.

TOP 7 Tax Saving Options Other Than 80C- For FY 2023-24

March 29, 2024 9324 Views 0 comment Print

Explore top tax-saving options beyond Section 80C for FY 2023-24, including NPS, health insurance premiums, medical expenses, home loan interest, electric vehicle purchases, charitable donations, savings account interest, and rebates.

Co-Op society eligible for section 80P(2)(a)(i) deduction on compulsory investment with Central Co-op Bank  

March 19, 2024 279 Views 0 comment Print

In the case of Kalika Parameswari Co-op Society vs. ITO, ITAT Bangalore allows deduction under Section 80P(2)(a)(i) for interest income from cooperative bank investments.

Form 10BA filing Mandatory to claim Section 80GG Deduction: ITAT Bangalore

March 15, 2024 480 Views 0 comment Print

ITAT Bangalore rules that submission of Income Tax Form No. 10BA is necessary for claiming deduction under Section 80GG. Details of the case explained.

Section 80IAC-  Tax Holidays for Startups recognized by DPIIT

March 5, 2024 927 Views 0 comment Print

Discover how startups can benefit from tax holidays under Section 80-IAC recognized by DPIIT. Learn eligibility, benefits, and the application process in this comprehensive guide.

Section 80P(2)(a)(i) deduction eligible on Income from Loans to Nominal Members

March 3, 2024 846 Views 0 comment Print

ITAT Bangalore rules income from credit facilities to nominal members of a Co-operative Society exempt under Section 80P(2)(a)(i) of the Income Tax Act.

Return Filing Mandatory for claiming Section 80P Deduction: ITAT Bangalore

March 3, 2024 849 Views 0 comment Print

ITAT Bangalore rules deduction under Section 80P of Income Tax Act requires filing of return of income, dismissing Madhu Souharda Pathina’s appeal.

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