Section 80E

TDS on Salaries – Procedure to deduct TDS – Compliances

Income Tax - CA C. Maheshwar Reddy TDS on Salaries – Section 192- Procedure to deduct TDS – Compliance with Income Tax Act and rules there under Under Section 192, the employer is required to deduct Tax at Source while making the payment of salary during financial year to the employees, at the rate of applicable to the […]...

Now is the time to attack! Start firing bullets at your taxes

Income Tax - Act before March-end, so that you don’t have to regret in July! So many clients put their palms on their head, when it is the time to pay taxes and file return, in July. Taxes have already fired at them, they have done nothing to save themselves against the tax shots....

How to Save Income Tax

Income Tax - You can save your Income Tax lawfully.There are various deductions available through which you can save your tax.Utilize the investment process properly for your tax planning.We will discuss about the same:- DEDUCTION U/S 80C, DEDUCTION U/S 80D, DEDUCTION U/S 80E, DEDUCTION U/S 80TTA...

All about section 80E of Income Tax Act, 1961

Income Tax - Essential conditions for claiming deduction under section 80E of income tax act, 1961 for Interest on Education Loans: This deduction under section 80E for for Interest on Education Loans is over and above the Rs 1,50,000 deduction allowed under section 80C of Income Tax Act, 1961. 1 Who Can Claim deduction under section 80E ONLY [&hellip...

Deduction under section 80E of Income Tax Act

Income Tax - Education plays an essential role in the overall development of any country. In order to promote education, interest paid on an educational loan is allowed as a deduction under section 80E of the Income Tax Act. Provisions of section 80E are explained in the present article, along with the Frequently Asked Question. Deduction under sect...

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Assessee needs to discharge initial onus in case of Commission to Related Party

Yogendra Khandelwal Vs ACIT (ITAT Jaipur) - LOAN AND ADVANCES –Interest free funds available with the assessee is in excess of amount advanced to sister concern. There is no nexus between the interest bearing funds and the money so advanced to sister concern which has been established by AO. In view of the same, a presumption will arise in ...

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Notification No. 79/2010-Income Tax Dated 13/10/2010

Notification No. 79/2010-Income Tax - (13/10/2010) - Notification No. 79/2010-Income Tax Section 80E of the Income-tax Act, 1961- Deduction - In respect of interest on loan taken for higher education - Financial institution notified for purpose of section 80E(3)(b)...

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Recent Posts in "Section 80E" | Total 21 Posts

TDS on Salaries – Procedure to deduct TDS – Compliances

CA C. Maheshwar Reddy TDS on Salaries – Section 192- Procedure to deduct TDS – Compliance with Income Tax Act and rules there under Under Section 192, the employer is required to deduct Tax at Source while making the payment of salary during financial year to the employees, at the rate of applicable to the […]...

Posted Under: Income Tax | Articles, Featured

Now is the time to attack! Start firing bullets at your taxes

Act before March-end, so that you don’t have to regret in July! So many clients put their palms on their head, when it is the time to pay taxes and file return, in July. Taxes have already fired at them, they have done nothing to save themselves against the tax shots....

Posted Under: Income Tax | Articles

How to Save Income Tax

You can save your Income Tax lawfully.There are various deductions available through which you can save your tax.Utilize the investment process properly for your tax planning.We will discuss about the same:- DEDUCTION U/S 80C, DEDUCTION U/S 80D, DEDUCTION U/S 80E, DEDUCTION U/S 80TTA...

Posted Under: Income Tax | Articles

All about section 80E of Income Tax Act, 1961

Essential conditions for claiming deduction under section 80E of income tax act, 1961 for Interest on Education Loans: This deduction under section 80E for for Interest on Education Loans is over and above the Rs 1,50,000 deduction allowed under section 80C of Income Tax Act, 1961. 1 Who Can Claim deduction under section 80E ONLY [&hellip...

Posted Under: Income Tax | Articles

Deduction under section 80E of Income Tax Act

Education plays an essential role in the overall development of any country. In order to promote education, interest paid on an educational loan is allowed as a deduction under section 80E of the Income Tax Act. Provisions of section 80E are explained in the present article, along with the Frequently Asked Question. Deduction under sect...

Posted Under: Income Tax | Articles

General Exemptions & Deductions for Salaried employees

General Exemptions & Deductions available for salaried employees for FY 2018-19 i.e. AY 2019-20 includes House Rent Allowance, Interest on Home Loan, Standard Deduction and Chapter VI-A deductions which includes- Section 80C, Section 80CCC – Pension Funds, Section 80CCD – National Pension Scheme (NPS), Section 80CCE, Section 80D �...

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Assessee needs to discharge initial onus in case of Commission to Related Party

Yogendra Khandelwal Vs ACIT (ITAT Jaipur) -

LOAN AND ADVANCES –Interest free funds available with the assessee is in excess of amount advanced to sister concern. There is no nexus between the interest bearing funds and the money so advanced to sister concern which has been established by AO. In view of the same, a presumption will arise in favour of assessee that interest free fu...

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Jaipur

Tax benefits for education

In order to promote education, the government provides certain relief to the individual tax payers in respect of certain expenses incurred by them for education. Let us discuss these tax benefits. Tax benefits on Tuition fee for children You can claim deduction upto Rs. 1.50 lakh every year for tuition fee paid for full time […]...

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School reopens! Unresolved questions of its Fees in Income Tax

Arjuna (Fictional Character): Krishna, July is here, Schools / colleges soon will reopen. Therefore Parents are busy in their children’s school preparation. Today, tell us in detail about education expenses and provisions relating to it under Income Tax Act...

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Tips to save Income tax for Salaried Person

Often, investment for most individuals begins and ends with tax planning. Although it is pertinent to avail tax breaks, this should not be the sole focus. Start by jotting down your key financial objectives, the tentative time of money requirement and the corpus needed to achieve those goals....

Posted Under: Income Tax | Articles, Featured