Income Tax : Explore allowable tax deductions for AY 2025-26, covering salaries, house property, business, and personal expenses. Maximize your...
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...
Income Tax : Discover key deductions under Chapter VIA of the Income Tax Act, 1961, including Section 80C, 80D, and 80G. Learn how to optimize ...
Income Tax : Unlock the potential of Section 80CCC under the Income Tax Act for retirement benefits. Explore deductions up to Rs 1.5 lakhs, ann...
Finance : As a salaried employee, he/she must submit a tax declaration form via Form 12BB at the beginning of each financial year or 3 month...
Explore allowable tax deductions for AY 2025-26, covering salaries, house property, business, and personal expenses. Maximize your tax benefits today.
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.
Discover key deductions under Chapter VIA of the Income Tax Act, 1961, including Section 80C, 80D, and 80G. Learn how to optimize your taxable income and benefit from various investment and insurance-related deductions.
Unlock the potential of Section 80CCC under the Income Tax Act for retirement benefits. Explore deductions up to Rs 1.5 lakhs, annuity plans, tax implications, and strategic financial planning. Plan your future with tax-savvy retirement solutions.
As a salaried employee, he/she must submit a tax declaration form via Form 12BB at the beginning of each financial year or 3 months prior to the close of the particular financial year. The form is statement of claims that and employee gives for deduction of tax to his/her employer to claim exemptions or deductions […]
Deduction is allowed if the assessee has paid any amount towards any annuity plan of Life Insurance Corporation of India (LIC) or any other insurer for receiving pension from pension fund. Pension received from the policy is also considered as part of taxable income. A general life insurance policy cannot be used to claim deductions […]
CA ARPAN JAIN Understanding your Pay slip Basic Salary Fixed Component of your pay House Rent Allowance Salaried individuals, who live in a rented house/apartment, can claim house rent allowance or HRA to lower tax payment. This can be partially or completely exempt from taxes. Leave Travel Allowance Salaried employees can avail exemption for a […]
Deductions from Gross Total Income This Article covers the common deductions which can be claimed while filing Income Tax Return. Most Common Deductions are classified in the following Categories for easy understanding- 1. Income Based Deductions 2. Standard Amount of Deductions 3. Investment Based Deductions 4. Expenses Based Deductions Before going to any Specific Deductions, […]
Deduction under Section 80C, Section 80CCC, Section 80CCD (Maximum amount of Income Tax deduction Rs. 1,50,000+Rs. 50,000) Deduction under Section 80C In order to calculate total income of an Individual & HUF certain payments are very important to claim deduction u/s 80. Hence to know about which type of payment that are eligible to deduct […]
Important points to keep in mind before filing income tax return. Learn about selecting the correct form and other key considerations for AY 2020-21.
