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Section 80U

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New Financial Year and New ITR Forms

Income Tax : Explore crucial updates in ITR forms for the Financial Year 2023-24. From tax regime shifts to added disclosures, stay informed fo...

March 6, 2024 2223 Views 0 comment Print

Comprehensive analysis of Section 80U: Tax Exemptions for people with disabilities

Income Tax : Explore Section 80U of the Income Tax Act for a comprehensive analysis of tax exemptions for individuals with disabilities. Unders...

January 25, 2023 1800 Views 0 comment Print

Deduction Under Income Tax

Income Tax : SECTION 80C – DEDUCTION ON INVESTMENT: Section 80C is the most favorite section of all the income tax payer because it allows to...

October 19, 2021 9234 Views 2 comments Print

Allowable Deductions from Income while Filing Return of Income

Income Tax : Deductions from Gross Total Income This Article covers the common deductions which can be claimed while filing Income Tax Return. ...

December 27, 2020 11631 Views 4 comments Print

Deduction under section 80DD, 80DDB, 80U

Income Tax : Section 80DD: Deduction in respect of maintenance including medical treatment of a Dependent who is person with disability. 1. El...

August 3, 2020 56934 Views 4 comments Print

Latest Judiciary

Income accruing or arising in the hands of minor is added to parent’s total income

Income Tax : Kerala High Court held that provisions of section 64(1)(v) of Income Tax Act clearly states that income accruing or arising in the...

June 23, 2023 582 Views 0 comment Print

No section 69A addition for denial of section 80G deduction   

Income Tax : Batuk Vithalabhai Donga Vs ITO (ITAT Rajkot) If addition under section 80U is not made under section 68 or 69, then tax cannot be ...

February 16, 2023 870 Views 0 comment Print

General Exemptions & Deductions for Salaried employees

July 1, 2019 26526 Views 6 comments Print

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 – Medical Insurance, Section 80DD – Maintenance […]

Tax Benefits for Differently Able persons in India

July 28, 2018 16702 Views 6 comments Print

Tax benefits to individual who are differently able, Parents who have dependents who are differently able including minor and certain benefits to private sector for providing employment opportunities to differently able

Income / Profession Tax Benefits for Disabled / Handicapped Persons

July 24, 2018 293358 Views 81 comments Print

Article discusses Benefits under Income Tax and Profession Tax Act Available to Disabled or Handicapped Persons. Income Tax Act Provides Deduction Under Section 80DD, Section 80DDB and Section 80U and also provide indirect tax benefit under section 64 of the Income Tax Act to Disabled / Handicapped Persons.

Tips to save Income tax for Salaried Person

July 13, 2018 377566 Views 74 comments Print

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.

All Possible Tax Benefits of Health Insurance

July 4, 2018 17811 Views 0 comment Print

The increased incidence of lifestyle-related diseases and the spiraling costs of health care has made it necessary for people to get health insurance coverage. You can get yourself and your family, which includes your spouse, children, parents, and other dependents, covered under health insurance. If you or members of your family are affected by a […]

Deduction we use to forget while computing taxable income

July 1, 2018 44863 Views 17 comments Print

Deduction for Medical treatment of dependent :- Under Section 80DD of the Act, where an individual has incurred expenditure for the medical treatment, training and rehabilitation of a dependent, being a person with disability or has paid or deposited any amount under prescribed scheme for the maintenance of dependent, such individual will be allowed a deduction to the extent of Rs 50,000. However, if the dependent is suffering from severe disability, a deduction of Rs 75,000 will be allowed.

Deduction U/s. 80U for disabled persons

June 27, 2018 655177 Views 187 comments Print

The Income Tax Act, 1961 provides deduction u/s. 80U in pursuance of which an individual (Indian citizen and foreign national) who is resident of India, and who suffers from not less than 40 per cent of any disability is eligible for deduction to the extent of Rs. 75,000/- and in case of severe disability to the extent of Rs. 125,000/-.

10 lesser known Income Tax Deductions

June 25, 2018 149828 Views 56 comments Print

We all know about the popularly know deductions like deduction u/s. 80C & 80D. But many times we use to forget to claim many other deductions which are available under the Income Tax Act, which can reduce our tax burden significantly. In this article we discussed 10 such lesser know deductions which taxpayers tend to forget to claim while filing there Income Tax Return.

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

March 20, 2015 737998 Views 99 comments Print

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 are to be reduced from the gross total income, the latter do not form part of the income at all.

Budget 2015- Section 80U deduction Limit Raised

March 1, 2015 59108 Views 18 comments Print

Raising the limit of deduction under Section 80U for persons with disability and severe disability The existing provisions of section 80U, inter alia, provide for a deduction to an individual, being a resident, who, at any time during the previous year, is certified by the medical authority to be a person with disability (as defined […]