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 : This article delves into the provisions of Section 80E, highlighting its benefits and clarifying common queries related to educati...
Income Tax : Learn all about income tax benefits on interest on education loans under Section 80E with our overview of eligibility criteria and...
Income Tax : Article delve into the details of Section 80EE, its eligibility criteria, and how to claim the deduction while optimizing your inc...
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 : 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 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.
Learn all about income tax benefits on interest on education loans under Section 80E with our overview of eligibility criteria and approved lenders!
Article delve into the details of Section 80EE, its eligibility criteria, and how to claim the deduction while optimizing your income tax return.
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.
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.
Whether Income Tax Exemption is available in respect of Educational Loan taken for the purposes of higher education abroad? All salaried persons and pensioners should submit their Income Tax Final Statement (with respect to the A.Y 2022-203, Previous Year 2021-2022) before February 28, 2022. Income Tax Final Statement should be submitted before the relevant Drawing […]
Mr. X has sent his son to abroad for pursuing his higher studies in a foreign university. Mr. X has taken a loan from a financial institution towards meeting cost of his son’s higher education. Mr. X wants to claim the interest on repayment of education loan as a deduction under Section 80E. This is a common question posed by the tax payers in a similar scenario.
SECTION 80C – DEDUCTION ON INVESTMENT: Section 80C is the most favorite section of all the income tax payer because it allows to reduce the tax liability of the tax payer by making tax saving investment and collect eligible expenses. It allows a deduction of maximum Rs 1, 50, 000 every year from the total […]
