Income Tax : Explains key deductions under Chapter VI-A and highlights frequent taxpayer errors, including documentation lapses and section-wis...
Income Tax : Understand tax deductions for paying family's home or education loans. Learn conditions for claiming benefits, including borrower ...
Income Tax : Section 80E of the Income Tax Act provides deduction towards interest paid on loan taken for higher education. The current article...
Income Tax : Learn about key deductions under Section 80 for Income Tax Returns (ITR) filing. Explore benefits, limits, and eligibility criteri...
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 : The Tribunal examined whether cost of acquisition could be fixed on assumptions. It held that government-notified MVR rates must b...
Income Tax : Karnataka High Court held that revision petition u/s. 264 of the Income Tax Act wrongly dismissed by holing that delay in filing r...
Income Tax : ITAT Kolkata deletes the Section 271(1)(c) penalty against Asit Kumar Dutta. The Tribunal ruled that an incorrect deduction claime...
Income Tax : ITAT Mumbai held that income by way of interest on loans given for residential purposes for period less than 5 years is eligible f...
Income Tax : LOAN AND ADVANCES –Interest free funds available with the assessee is in excess of amount advanced to sister concern. There is n...
Income Tax : Notification No. 79/2010-Income Tax Section 80E of the Income-tax Act, 1961- Deduction - In respect of interest on loan taken for ...
The Tribunal examined whether cost of acquisition could be fixed on assumptions. It held that government-notified MVR rates must be considered and ad-hoc estimates cannot replace statutory valuation methods.
Karnataka High Court held that revision petition u/s. 264 of the Income Tax Act wrongly dismissed by holing that delay in filing revision petition cannot be condoned since the revisional authority already condoned the delay.
Explains key deductions under Chapter VI-A and highlights frequent taxpayer errors, including documentation lapses and section-wise misclaims.
ITAT Kolkata deletes the Section 271(1)(c) penalty against Asit Kumar Dutta. The Tribunal ruled that an incorrect deduction claimed by mistake, with full disclosure, does not constitute furnishing inaccurate particulars of income.
Understand tax deductions for paying family’s home or education loans. Learn conditions for claiming benefits, including borrower and ownership requirements.
Section 80E of the Income Tax Act provides deduction towards interest paid on loan taken for higher education. The current article covers deduction under section 80E of the Income Tax Act; eligibility for claiming deduction under section 80E; amount and period of deduction u/s. 80E; source of loan availment for claiming deduction u/s. 80E and […]
Learn about key deductions under Section 80 for Income Tax Returns (ITR) filing. Explore benefits, limits, and eligibility criteria for deductions like 80C, 80D, 80E, and more.
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.
ITAT Mumbai held that income by way of interest on loans given for residential purposes for period less than 5 years is eligible for deduction under section 36(1)(vii) of the Income Tax Act.
This article delves into the provisions of Section 80E, highlighting its benefits and clarifying common queries related to educational loans and deductions.
