Follow Us :

Income Tax Deductions

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

Latest Articles


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 786 Views 0 comment Print

Unlock the door to tax savings with Section 80C!!!

Income Tax : Discover the key to tax savings with Section 80C! Explore various investment options like EPF, PPF, ELSS, life insurance premiums,...

February 27, 2024 1110 Views 0 comment Print

Decoding Section 80D in 2024: Navigating New Tax Regime, Health Insurance Deductions and Medical Billing Insights

Income Tax : Understand Section 80D in 2024: Learn about the new tax regime, health insurance deductions, and gain insights into medical billin...

February 20, 2024 2196 Views 0 comment Print

All about deduction under Section 80GG of Income Tax Act, 1961

Income Tax : Explore the nuances of claiming HRA and deduction under Section 80GG in income tax. Understand eligibility, calculations, and key ...

February 2, 2024 1047 Views 0 comment Print

Understanding Section 80GG of Income Tax Act: A Boon for Renters without HRA

Income Tax : Comprehensive guide to Section 80GG of the Income Tax Act. Learn about eligibility criteria, quantum of deduction, and an illustra...

January 30, 2024 2781 Views 1 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 14350 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 3962 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 7066 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 2115 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 13911 Views 0 comment Print


Latest Notifications


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 1248 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 9951 Views 0 comment Print

S. 80D Contributory Health Service Scheme of Department of Space notified

Income Tax : Notification No. 6/2014-Income Tax In exercise of thy powers conferred by clause (a) of sub-section (2) of section 80D of the Inco...

January 15, 2014 5099 Views 0 comment Print

Section 80CCG Govt notifies Rajiv Gandhi Equity Savings Scheme, 2013

Income Tax : Notification No. 94/2013 - Income Tax S.O. 3693 (E).- In exercise of the powers conferred by sub-section (1) of section 80CCG of ...

December 18, 2013 10928 Views 1 comment Print

Rajiv Gandhi Equity Savings Scheme, 2012 -Section 80CCG – Notification

Income Tax : Notification No. 51/2012-Income Tax Rajiv Gandhi Equity Savings Scheme, 2012 shall apply for claiming deduction in the computatio...

November 23, 2012 10143 Views 0 comment Print


Loans and income tax benefits available

July 17, 2018 73741 Views 9 comments Print

Most of us must have borrowed at some point in life whether it is friendly borrowings from friends and relatives or whether it is a home loan from a financial institution. In this article, I shall discuss the tax benefits available in respect of such loans.

Lesser Known Tax Saving Tips / Deductions

July 17, 2018 175564 Views 88 comments Print

For most of the people ‘tax savings’ brings to mind life insurance, PPF, NSC, Sukanya Samriddhi Account and equity-linked savings scheme, among others, that qualify for tax deduction under Section 80C of the Income-Tax Act. An individual can claim tax deductions of up to Rs 1.50 lakh (One Lakh Up to AY 2014-15) under 80C.

Double Benefit on Taxes on Housing Loan

July 16, 2018 109886 Views 10 comments Print

The Income Tax Act provides deduction under section 80C against Principal Repayment and exemption under Section 24(b) on Interest payment of Housing Loan. Article explains tax benefit on Housing Loan taken and possession received in the same year and also when possession received in next year.

HRA Vs. Rent Free Accommodations (RFA)

July 16, 2018 51405 Views 1 comment Print

House Rent Allowance (H.R.A.) results in tax savings because accounting under Income tax act is direct exemption based. However, accounting of Rent Free accommodation is valuation based taxation and added to total income of employee presumptive basis. Please note Rent-Free Accommodation cannot be taxed if Salary is NIL The principles of valuations are explained below:- […]

Tips to save Income tax for Salaried Person

July 13, 2018 377551 Views 74 comments Print

Often, investment for most individuals begins and ends with tax planning. Although it is pertinent to avail tax breaks, this should not be the sole focus. Start by jotting down your key financial objectives, the tentative time of money requirement and the corpus needed to achieve those goals.

Section 80E -Tax Concession on Education Loan

July 12, 2018 27956 Views 19 comments Print

Section 80E of the Income Tax Act, 1961 provides for a deduction to an assessee (being an individual), out of his income chargeable to tax, on account of any amount paid by him in the previous year by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursing his higher education or for the purpose of higher education of his relative.

Section 80DD Deduction- Medical expense of disabled dependent

July 9, 2018 779587 Views 323 comments Print

Section 80DD allows a deduction to an individual or HUF if the person has incurred in the previous year any expenditure on medical treatment (including nursing), training and rehabilitation of a dependant with a disability or paid or deposited

Income tax saving investment options

July 6, 2018 12758 Views 0 comment Print

Once again, most of you all might have filed in the Income Tax returns but still at the back of the mind wished that you could have paid less taxes or to save more for the upcoming year. People falling in the high income group often miss out on some of the lesser known tax planning strategies which could substantially reduce their tax liability.

Tax Benefits of Health Insurance – Invest in Your Heath to Save More

July 5, 2018 10858 Views 1 comment Print

Every financial year, taxpayers look for legal ways to protect their savings and minimise tax liability. The pressure to keep up with the costs of living, the skyrocketing property rates or the ever-increasing health care costs in India, fuels the need to save on tax even further. Besides methods such as house rent allowance, saving […]

Deduction U/s. 80D for Medical Insurance/Expenses & Mediclaim

July 5, 2018 750665 Views 51 comments Print

Deduction U/s. 80D of the Income Tax Act, 1961 in respect of Medical Insurance Premium (Mediclaim) paid, to keep in force insurance by individual either on his own health or on the health of spouse, dependent parents and children or paid by HUF on the health of any members of the family.

Search Post by Date
March 2024
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031