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Income Tax Deductions

Income Tax Tax Deductions related News, Article, Notification, Judgments covering all section Including Section 80C, 80D, 80TTA, 80HHC, 80JJA

Latest Articles


Budget 2025: Deduction Under Section 80CCD for NPS Vatsalya Scheme

Income Tax : Learn about tax benefits under Section 80CCD for NPS Vatsalya contributions. Includes details on deductions, withdrawals, and rela...

February 3, 2025 843 Views 0 comment Print

Budget 2025: Tax Benefits Extended for Start-ups incorporated until April 1, 2030

Income Tax : Section 80-IAC is amended to extend 100% profit deduction for eligible start-ups incorporated until April 1, 2030, effective from ...

February 2, 2025 537 Views 0 comment Print

Section 80CCD deduction for NPS Vatsalya Contributions: FAQs

Income Tax : Finance Bill 2025 extends tax benefits for NPS Vatsalya contributions for minor children, allowing deductions up to Rs. 50,000 und...

February 2, 2025 504 Views 0 comment Print

FAQs on Extension of Section 80-IAC Tax Deduction Benefit for Startups

Income Tax : The Finance Bill 2025 extends the tax deduction under Section 80-IAC for eligible startups until 2030, providing a 100% deduction ...

February 2, 2025 429 Views 0 comment Print

IT department verifying Section 80GGC Political Donation deduction: What to Do?

Income Tax : Received an SMS about Section 80GGC deductions? Learn why the Income Tax Department is scrutinizing claims and what steps to take ...

January 29, 2025 15945 Views 0 comment Print


Latest News


Section 80G Amendment: National Sports Fund Update

Corporate Law : Finance Bill 2024 updates Section 80G to reflect "National Sports Development Fund" and changes approval procedures for charities....

July 24, 2024 300 Views 0 comment Print

Increased Employer Pension Contribution Deduction under Section 36 & 80CCD

Income Tax : Learn about the amended provisions allowing non-government employers to deduct up to 14% of employee salaries for pension scheme ...

July 23, 2024 375 Views 0 comment Print

Deduction U/s 35AC available only up to previous year ending 31-03-2017

Income Tax : Section 35AC of the Income Tax Act, as amended by the Finance Act, 2016, provides that no deduction under this section shall be al...

August 19, 2016 14560 Views 9 comments Print

Govt. Plan to phase out deductions under Income-tax Act, 1961

Income Tax : Press Information Bureau Government of India Ministry of Finance 26-November-2015 09:44 IST Date for sending comments by the stake...

November 26, 2015 4064 Views 0 comment Print

CBDT makes Claiming of medical expenditure for tax purposes easy

Income Tax : ne of the pillars of the of the taxation proposals included in the Finance Minister’s budget speech for 2015-16 was extension of...

October 14, 2015 7378 Views 1 comment Print


Latest Judiciary


No Section 80P(2)(d) deduction on Co-Op bank interest: ITAT Bangalore

Income Tax : ITAT Bangalore rules co-op societies can't claim Sec. 80P(2)(d) deduction for interest from co-op bank deposits, citing Totgars So...

February 8, 2025 561 Views 0 comment Print

Co-op societies can claim Section 80P(2)(d) deduction on interest on investments in co-op banks

Income Tax : ITO Vs Shivsahyadri Sahakari Pathpedhi (ITAT Mumbai) - Credit co-operative society investments in co-operative bank claimed as all...

January 28, 2025 474 Views 0 comment Print

Section 80JJAA Deduction Denial Due to Technical Default: ITAT Directs JAO to Rectify CPC Intimation

Income Tax : ITAT Ahmedabad remands case of Vimalachal Print & Pack Pvt. Ltd. for re-assessment regarding deduction under Section 80JJAA in AY...

January 16, 2025 156 Views 0 comment Print

Deduction u/s. 80P(2)(d) allowable towards interest from deposits with co-op banks

Income Tax : ITAT Ahmedabad held that interest income earned from deposits with co-operative banks is allowable as deduction under section 80P(...

December 21, 2024 5094 Views 0 comment Print

Karnataka Souharda Society Eligible for Section 80P Deduction: ITAT Bangalore

Income Tax : ITAT ruled that co-operative societies under the Karnataka Souharda Sahakari Act qualify for Section 80P deductions, allowing for ...

October 6, 2024 516 Views 0 comment Print


Latest Notifications


Revision of rate of TDS deduction on Agents Commission w.e.f 01.10.2024

Income Tax : TDS on agents commission reduced from 5% to 2% as per the Finance Bill 2024. New rate effective from October 1, 2024, under Sectio...

October 1, 2024 17151 Views 1 comment Print

NFRA Penalizes CA Rs 50 Lakhs for Misconduct in Section 80JJA Report

Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...

January 3, 2024 52563 Views 0 comment Print

Tax Deduction Relaxation for Ship Lease in IFSC: Income Tax Notification 57/2023

Income Tax : Check out Income Tax Notification 57/2023 issued by the Ministry of Finance, offering tax deduction relaxation for ship lease paym...

August 1, 2023 1596 Views 0 comment Print

Income Tax Circular: Condonation of Delay for Deduction u/s 80P

Income Tax : Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80...

July 26, 2023 7050 Views 0 comment Print

CBDT amends Income-tax Rules for Provisional Approval under Section 80G

Income Tax : CBDT issued Notification No. 34/2023-Income Tax, dated May 30, 2023 & introduces amendments to rule 11AA of Income-tax Rules, ...

May 30, 2023 13896 Views 0 comment Print


Latest Posts in Income Tax Deductions

No Section 80P(2)(d) deduction on Co-Op bank interest: ITAT Bangalore

February 8, 2025 561 Views 0 comment Print

ITAT Bangalore rules co-op societies can’t claim Sec. 80P(2)(d) deduction for interest from co-op bank deposits, citing Totgars Society case precedents.

Budget 2025: Deduction Under Section 80CCD for NPS Vatsalya Scheme

February 3, 2025 843 Views 0 comment Print

Learn about tax benefits under Section 80CCD for NPS Vatsalya contributions. Includes details on deductions, withdrawals, and related income tax amendments.

Budget 2025: Tax Benefits Extended for Start-ups incorporated until April 1, 2030

February 2, 2025 537 Views 0 comment Print

Section 80-IAC is amended to extend 100% profit deduction for eligible start-ups incorporated until April 1, 2030, effective from April 1, 2025.

Section 80CCD deduction for NPS Vatsalya Contributions: FAQs

February 2, 2025 504 Views 0 comment Print

Finance Bill 2025 extends tax benefits for NPS Vatsalya contributions for minor children, allowing deductions up to Rs. 50,000 under Section 80CCD.

FAQs on Extension of Section 80-IAC Tax Deduction Benefit for Startups

February 2, 2025 429 Views 0 comment Print

The Finance Bill 2025 extends the tax deduction under Section 80-IAC for eligible startups until 2030, providing a 100% deduction on business profits.

IT department verifying Section 80GGC Political Donation deduction: What to Do?

January 29, 2025 15945 Views 0 comment Print

Received an SMS about Section 80GGC deductions? Learn why the Income Tax Department is scrutinizing claims and what steps to take if you’ve donated or made an error.

5-Year Tax Saving Fixed Deposit – Section 80C Deduction

January 28, 2025 1293 Views 1 comment Print

Explore the features, benefits, and taxation of 5-year tax-saving fixed deposits in India. Learn how they help save taxes while offering guaranteed returns.

Tax Benefits of a Medical Insurance Policy for Family: A Guide for Maximising Deductions

January 28, 2025 1413 Views 0 comment Print

A medical insurance policy for a family wards off unexpected expenses in an individual’s health and provides great tax benefits. The deductions will help save more while having broader coverage under it.

Co-op societies can claim Section 80P(2)(d) deduction on interest on investments in co-op banks

January 28, 2025 474 Views 0 comment Print

ITO Vs Shivsahyadri Sahakari Pathpedhi (ITAT Mumbai) – Credit co-operative society investments in co-operative bank claimed as allowable u/s. 80P(2) because co-operative banks are also registered under co-operative society

Section 80JJAA Deduction Denial Due to Technical Default: ITAT Directs JAO to Rectify CPC Intimation

January 16, 2025 156 Views 0 comment Print

ITAT Ahmedabad remands case of Vimalachal Print & Pack Pvt. Ltd. for re-assessment regarding deduction under Section 80JJAA in AY 2020-21.

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