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...
ITAT Delhi upholds deletion of Rs. 1.75 Cr disallowance, clerical error in ITR. Full order details of ITO vs. Roshan Lal Sharma for AY 2011-12 & 2012-13.
The ITAT Kolkata has deleted the penalty in Prem Kumar Goutam vs. DCIT, ruling that the AO cannot demand a Profit and Loss Account for Section 44AD income. Get the details.
ITAT Mumbai decision in Hari Mittar Yadav vs. ITO: Confirmation of addition on LTCG under Section 50C based on unregistered deeds entered on judicial stamp papers.
In Sandip Chattopadhyay vs. ITO case, ITAT Kolkata ruled that deductions under sections 24(b), 80C, and 80D cannot be denied for not being claimed in ITR.
Articlee examines significance of NPS for retirement arranging, its construction, and tax collection and GST part of National Pension Scheme.
Under section 80C, taxpayers can claim deductions up to Rs. 1.5 lakh per financial year. In this article, we will explore the different tax-saving investment options available under Section 80C in India.
Unlock tax planning simplicity with Sukanya Samriddhi Yojana (SSY). Launched as part of ‘Beti Bachao, Beti Padhao,’ this government-backed savings scheme offers tax benefits and secure financial planning for your girl child’s education and marriage. Learn about eligibility, account opening, and tax advantages under Section 80C.
Discover the tax advantages of home loans under the Income Tax Act, 1961. Explore Sections 24B, 80C, 80EE, and 80EEA, which offer deductions for interest on loan borrowed, principal repayment, and additional deductions. Gain insights into eligibility criteria and maximize your tax benefits.
ITAT Amritsar held that in case of non-cooperation during conduct of special audit under section 142(2A) of the Income Tax Act, the time limit to do the same can be extended at the end of the department.
ITAT Bangalore held that the interest income received on temporary Fixed Deposits is eligible for exemption under section 10AA of the Income Tax Act.
