All articles, News. Notification, Judiciary related to Deduction Under Section 80C of Income Tax Act, 1961 at one place.
Income Tax : This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the fin...
Income Tax : The provisions detail deductions for investments, insurance, pension contributions, home loans, medical expenses, charitable donat...
Income Tax : The provisions under Sections 80C, 80D, 80DD, and 80DDB provide tax deductions because taxpayers incur eligible expenses on life i...
Income Tax : Explains key deductions under Chapter VI-A and highlights frequent taxpayer errors, including documentation lapses and section-wis...
Income Tax : Understand the difference between Section 87A rebate and 80C deductions under the Income Tax Act. Learn how these provisions lower...
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 : The Tribunal held that a 12.5% disallowance could not be sustained when the Assessing Officer neither rejected the books of accoun...
Income Tax : The Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding that bank transaction...
Income Tax : The Tribunal found that the assessees claim for deductions under Chapter VI-A required factual verification rather than outright r...
Income Tax : The dispute concerned restriction of leave encashment exemption to ₹3 lakh. The Tribunal allowed the full claim after applying t...
Income Tax : The Tribunal held that documents relating to payments made to suppliers such as TS MARKFED and Sri Venkateshwara Agencies required...
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...
Anticipated income tax changes in Budget 2025 include simplified laws, revised slabs, TDS reforms, and equitable taxation for individuals, corporates, and trusts.
Learn about ELSS funds, their tax-saving benefits under Section 80C, and how they combine equity investment with wealth creation for better returns.
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 an appealable order u/s. 253. Thus, appeal dismissed as infructuous.
Denial of the entire expenditure incurred towards as cost of construction by AO could not be held to be justified even if assessee did not submit satisfactory bills/vouchers in support of her claim towards the cost of construction.
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.
