Section 80TTA

Do not forget to include these things in your income tax returns

Income Tax - The income tax return season is in full swing with 31st July approaching fast. While filing the income tax return salaried people only provide copy of the form No. 16 to the person preparing his income tax returns without any further details. ...

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Section 80TTA Deduction – Interest on deposits in savings account

Income Tax - Section 80TTA has been introduced from this Financial Year [2012-13] and it allows to an employee from his gross total income if it includes any income by way of interest on deposits (not being time deposits) in a savings account a deduction amounting to : (i) in a case where the amount of such income does not exceed in the aggregate ten...

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Income Tax provisions – Individual Salaried for A.Y 2015-16

Income Tax - The article covers Introduction, Residential Status, Tax Rates, Head-wise Taxation & Deduction available under the Act. Hope you will find it useful in this Return Filing Season....

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27 tips to save Income Tax in India for salaried & business person

Income Tax - Everyone wants to increase the income but don’t want to pay taxes. There are many ways to save income tax. You might know few of these but I am sure you will find at least one new way from this article that can save more tax this year. There is a long list, so I […]...

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Income Tax Deductions for A.Y. 2014-15/ 2015-16 for Salaried

Income Tax - The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of the Income Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former ar...

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Recent Posts in "Section 80TTA"

Do not forget to include these things in your income tax returns

The income tax return season is in full swing with 31st July approaching fast. While filing the income tax return salaried people only provide copy of the form No. 16 to the person preparing his income tax returns without any further details. ...

Read More
Posted Under: Income Tax | ,

Section 80TTA Deduction – Interest on deposits in savings account

Section 80TTA has been introduced from this Financial Year [2012-13] and it allows to an employee from his gross total income if it includes any income by way of interest on deposits (not being time deposits) in a savings account a deduction amounting to : (i) in a case where the amount of such income does not exceed in the aggregate ten...

Read More
Posted Under: Income Tax | ,

Income Tax provisions – Individual Salaried for A.Y 2015-16

The article covers Introduction, Residential Status, Tax Rates, Head-wise Taxation & Deduction available under the Act. Hope you will find it useful in this Return Filing Season....

Read More
Posted Under: Income Tax |

27 tips to save Income Tax in India for salaried & business person

Everyone wants to increase the income but don’t want to pay taxes. There are many ways to save income tax. You might know few of these but I am sure you will find at least one new way from this article that can save more tax this year. There is a long list, so I […]...

Read More
Posted Under: Income Tax | ,

Income Tax Deductions for A.Y. 2014-15/ 2015-16 for Salaried

The Income Tax Act provides that on determination of the gross total income of an assessee after considering income from all the heads, certain deductions therefrom may be allowed. These deductions detailed in chapter VIA of the Income Tax Act must be distinguished from the exemptions provides in Section 10 of the Act. While the former ar...

Read More
Posted Under: Income Tax |

Section 80TTA Deduction- Interest on Bank savings deposit

Section 80TTA is introduced with effect from April 01, 2013 and will apply from AY 2013-14 and onwards. Section is introduced to provide deduction to an individual or a Hindu undivided family in respect of interest received on deposits (not being time deposits) in a savings account held with banks, cooperative banks and post office....

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Posted Under: Income Tax | ,

Income Tax deductions for A.Y. 2013-14 / FY 2012-13

DEDUCTION IN RESPECT OF LIFE INSURANCE PREMIA, DEFERRED ANNUITY, CONTRIBUTIONS TO PROVIDENT FUND, SUBSCRIPTION TO CERTAIN EQUITY SHARES OR DEBENTURES, ETC. [SEC. 80C, APPLICABLE FROM THE ASSESSMENT YEAR 2006-07] - SECTION 80C 1. Under section 80C, deduction would be available from gross total income. 2. Only an individual or a Hindu und...

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Posted Under: Income Tax | ,

Deduction for interest on deposits in savings accounts up to 10K Rs.

Under the proposed new section 80TTA of the Income-tax Act, a deduction up to an extent of ten thousand rupees in aggregate shall be allowed to an assessee, being an individual or a Hindu undivided family, in respect of any income by way of interest on deposits (not being time deposits) in a savings account with—...

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Posted Under: Income Tax | ,

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