Income Tax : The note highlights gaps in existing tax provisions affecting families, seniors, and small investors. It suggests targeted reforms...
Finance : Rising medical costs and low coverage make health insurance critical. Learn how modern plans protect your finances while offering ...
Income Tax : Explains key deductions under Chapter VI-A and highlights frequent taxpayer errors, including documentation lapses and section-wis...
Income Tax : Summary of exclusive tax benefits for resident senior citizens (60+ years) and super senior citizens (80+ years), including enhanc...
Income Tax : Excessive tax deductions trigger audits when claims are disproportionate to income, lack documentation, or mismatch AIS data. Taxp...
Corporate Law : The government has no plans to revise the ₹5,000 tax limit for preventive health check-ups. AI-based health initiatives focus on...
Goods and Services Tax : The government awaits GST Council recommendations on Jeevan Rakshak life insurance GST reduction. No proposal exists for additiona...
Income Tax : Pro-rata deduction of single premium paid in year one should be allowed over the term of the policy. E.g. if the premium paid is R...
Income Tax : Aviva Life Insurance today announced the launch of its online health plan – Aviva Health Secure. The plan provides the policyhol...
Income Tax : It is, therefore, proposed to also allow deduction in respect of any contribution made to CGHS by including such contribution unde...
Income Tax : Section 54/54F deduction allowed by ITAT Bangalore despite incomplete documents, as substantive investment in house construction w...
Income Tax : The Tribunal held that exclusion of time for transfer of seized material applies only within the running limitation period. As the...
Income Tax : ITAT clarified that a statement recorded during search does not automatically become incriminating material. Without supporting do...
Income Tax : ITAT upheld the deletion of a 25% bogus purchase addition, ruling that the AO cannot disallow purchases based merely on suspicio...
Income Tax : In Sandip Chattopadhyay vs. ITO case, ITAT Kolkata ruled that deductions under sections 24(b), 80C, and 80D cannot be denied for n...
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...
Income Tax : Central Government hereby notifies the Ex-Servicemen Contributory Health Scheme of the Department of Ex-Servicemen Welfare, Minist...
Income Tax : Central Government hereby notifies the Contributory Health Service Scheme of the Department of Atomic Energy for the purposes of s...
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...
Discover effective ways to save income tax on your salary beyond 80C, 80D & HRA. Explore tax regime options, flexi benefit plans, NPS benefits, and tax-saving for EMIs.
This article presents valuable tips that can assist you in saving income tax in the current financial year. From optimizing your salary structure to utilizing tax deductions, these tips are designed to help you make the most of the available tax-saving opportunities.
Discover smart tax-saving strategies for a salary of 12 lakh per annum. Learn about Section 80C deductions, HRA benefits, NPS contributions, and more. Optimize your tax liability, maximize take-home income, and achieve financial goals with effective tax planning. Stay updated on tax laws, explore deductions for medical expenses and education, and keep records for a seamless tax filing process.
Section 80DD of the Income Tax Act, 1961 offers tax deductions regarding the medical treatment and maintenance of a dependent with disability. Under this section, the taxpayer can claim a deduction in respect of expenses incurred for the medical treatment and maintenance of a dependant who is a person with disability.
Section 80D, allows taxpayers to claim deductions for premiums paid towards health insurance. This article will provide a detailed overview of deduction available under Section 80D and related provisions.
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.
Explore key factors for selecting a health insurance policy, including tenure, premium, post-hospitalization coverage, organ donor, and Ayush treatment benefits. Learn to safeguard your health with the right insurance.
Maximize your income tax savings on salary! Learn how to pay zero taxes and claim a full refund of TDS deducted under Section 192. Explore salary structures, deductions under Section 80C, 80D, 80E, and more. Make informed financial decisions for a tax-efficient financial year-end.
Learn how Indian laws combat cash transactions through measures like demonetization, Benami Transactions Act, and Income-tax Act. Understand penalties and compliance to ensure financial transparency.
Understand the benefits of Section 80D for health insurance premiums. Learn about the deductions available for insurance on self, spouse, dependent children, and parents.
