All articles, News. Notification, Judiciary related to Deduction Under Section 80C of Income Tax Act, 1961 at one place.
Finance : #AD Equity-Linked Savings Schemes (ELSS) are among the best tax-saving investment options available in India. These funds offer th...
Income Tax : Learn how to save tax under the new tax regime with standard deduction, employer NPS contributions, and tax-free retirement benefi...
Finance : Explore the features, benefits, and taxation of 5-year tax-saving fixed deposits in India. Learn how they help save taxes while of...
Income Tax : Anticipated income tax changes in Budget 2025 include simplified laws, revised slabs, TDS reforms, and equitable taxation for indi...
Income Tax : Learn about ELSS funds, their tax-saving benefits under Section 80C, and how they combine equity investment with wealth creation f...
Income Tax : If a trader makes his transactions in cash on a turnover of Rs.Two Crore, then his income under the presumptive scheme will then b...
Income Tax : Senior Citizen Savings Schemes deposits are eligible for deduction under section 80C of Income Tax Act but interest earned on depo...
Income Tax : In Mumbai on Wednesday RBI Governor Raghuram Rajan said that there is a need for increase in tax exemption limit under section 80C...
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 ...
Income Tax : A Parliamentary panel scrutinising the Direct Taxes Code - DTC Bill has suggested raising the income tax exemption limit to 3 lakh...
Income Tax : ITAT Delhi held that once the books of accounts are rejected, it doesn’t warrant any adhoc addition. Thus, CIT(A) rightly restri...
Income Tax : ITAT Hyderabad sustains Section 68 additions, denies deductions for LIC premium and tuition fees, dismissing the assessee’s appe...
Income Tax : ITAT Jaipur held that disallowance of cash payment under section 40A(3) of the Income Tax Act deleted since genuineness of the tra...
Income Tax : ITAT Surat held that rejection of the application for condonation of delay in filing refund claim u/s 119(2)(b) of the Act is not ...
Income Tax : Denial of the entire expenditure incurred towards as cost of construction by AO could not be held to be justified even if assessee...
Income Tax : CBDT notifies vide Notification No. 134/2021- Income Tax, Dated: 06.12.2021 that Jeevan Akshay-VII Plan of the Life Insurance Corp...
Income Tax : Proof of savings/documents viz. insurance premium receipt, NSC, Infrastructure Bond, PPF Bank Statement, Housing Loan Certificate ...
Income Tax : CBDT notified vide Notification No. 45/2020-Income Tax dated 07th July, 2020 that Tax benefit of Section 80C will be available to ...
Income Tax : Vide Income Tax Notification No. 35/2020 dated 24.06.2020 govt extends Due date for ITR for FY 2018-19 upto 31.07.2020, Last...
Finance : The Public Provident Fund (PPF) account/ Sukanya Sarnriddhi Account (SSA) holders will be eligible to make a single deposit each i...
The stand of the assessee was that it was not necessary that loss of one industrial undertaking should necessarily be adjusted against the profit of another eligible industrial undertaking.
ITAT Delhi held that dismissal of appeal by CIT(A) for non-prosecution and confirmed the order of the AO as no submissions were made on behalf of the assessee. Accordingly, matter restored to CIT(A).
A tax saving FD not only offers a reliable way to save but also provides significant tax benefits, making it a dual-purpose investment. This article delves into why this option resonates with risk-averse investors and how tools like an FD calculator can help plan your finances effectively.
Explore the differences between Form 16 and Form 16A, their purposes, eligibility, and significance in income tax filing. Understand how these forms affect your tax returns. Understanding the distinctions between Form 16 and Form 16A is crucial for individuals navigating the complexities of income tax in India. Both forms are integral to the tax filing process, yet they serve different purposes and are applicable to different types of income. This detailed analysis will explore their definitions, components, eligibility criteria, issuance frequency, and their roles in tax compliance.
When it comes to managing your finances, the importance of investing and saving wisely cannot be understated. Today, safeguarding your future and having a safety net against any future financial burden is essential.
Understand Section 80C deductions of the Income Tax Act, eligible investments, and the limits for individuals and HUFs. Reduce tax liability with the right investments.
ITAT Ahmedabad ruled on tax treatment for Smt. Pashiben Prajapati Trust, clarifying the application of Section 164 and deductions under Chapter VI-A.
Explore allowable tax deductions for AY 2025-26, covering salaries, house property, business, and personal expenses. Maximize your tax benefits today.
Have questions about income tax payment? Read this article to find answers to frequently asked questions about income tax, including payment deadlines, income classification, gross total income, deductions, tax liability computation, and more.
Detailed analysis of Ramanlal Jivrajbhai Patel vs ITO case from ITAT Ahmedabad. Learn about judgments on business expenditure under Income Tax Act, 1961.
