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 : Explore the nuances of claiming HRA and deduction under Section 80GG in income tax. Understand eligibility, calculations, and key ...
Income Tax : Comprehensive guide to Section 80GG of the Income Tax Act. Learn about eligibility criteria, quantum of deduction, and an illustra...
Income Tax : Section 80GG allows Deduction of the rent paid by him even though he does not have any house property for self-occupation of occup...
Income Tax : Learn about the meaning of donation under the Income Tax Act, 1961, and explore the types of donations, deductions, and conditions...
Income Tax : ITAT Bangalore rules that submission of Income Tax Form No. 10BA is necessary for claiming deduction under Section 80GG. Details o...
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 Bangalore rules that submission of Income Tax Form No. 10BA is necessary for claiming deduction under Section 80GG. Details of the case explained.
Explore the nuances of claiming HRA and deduction under Section 80GG in income tax. Understand eligibility, calculations, and key considerations for tax relief.
Comprehensive guide to Section 80GG of the Income Tax Act. Learn about eligibility criteria, quantum of deduction, and an illustrative example. Maximize tax relief for renters without House Rent Allowance (HRA)
Section 80GG allows Deduction of the rent paid by him even though he does not have any house property for self-occupation of occupier.
Learn about the meaning of donation under the Income Tax Act, 1961, and explore the types of donations, deductions, and conditions for claiming them in India.
Form 10BD is a statement required to be furnished by the donee, i.e., the trust, NGO or institution that receives donations under Section 80G of the Income Tax Act, 1961. The purpose of this form is to provide details of the donations received during the financial year and to ensure that the donations received are genuine and eligible for tax benefits.
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.
Section 80GG deduction is to be claimed only in the cases where any residential accommodation is not owned by the assessee or by his spouse or minor child or by Hindu Undivided Family of which he is a member.
Learn about Section 80GG and how it allows individuals to claim a deduction for rent paid, even without receiving HRA.
