Income Tax Tax Deductions related News, Article, Notification, Judgments covering all section Including Section 80C, 80D, 80TTA, 80HHC, 80JJA
Income Tax : Explore Section 80JJAA of Income Tax Act, encouraging job creation in India. Learn about conditions, deductions, and benefits for ...
Income Tax : Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment proces...
Income Tax : Discover everything about Income Tax Deduction under Section 80C - eligibility, qualifying investments, maximum deduction, and mor...
Income Tax : Learn about Deduction u/s 80JJAA: Who's eligible, how much is allowed, and what it means for additional employee costs. Expert ins...
Income Tax : Explore the worthiness of investing in NPS under Section 80CCD deduction for salary individuals/HUFs. Learn about tax benefits, re...
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...
Income Tax : Press Information Bureau Government of India Ministry of Finance 26-November-2015 09:44 IST Date for sending comments by the stake...
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...
Income Tax : Expanding the scope of deduction and its eligibility u/s. 80CCG The existing provisions of section 80CCG, inter-alia, provide th...
Finance : LIC’s Jeevan Sugam is a non-linked single premium plan wherein the risk cover is a multiple of premium paid by you. On maturity ...
Income Tax : Gujarat High Court allows income tax deduction for payment clearing mortgage, dismissing Revenue’s appeal under section 263. Ful...
Income Tax : Read the detailed analysis of Laxminarayana Suvarna Credit Co-operative Society Ltd. Vs ITO (ITAT Bangalore) on the eligibility of...
Income Tax : Detailed analysis of Alubound Dacs India Private Limited vs. DCIT case before ITAT Mumbai regarding the allowance of Section 80G d...
Income Tax : In Purnasons Pvt. Ltd vs. ITO, ITAT Kolkata rules on the allowance of deductions under Section 80M of the Income Tax Act when divi...
Income Tax : Bombay HC in Hindustan Export & Import Corporation Private Limited Vs DCIT held that sharing newspaper cuttings alone did not meet...
Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...
Income Tax : Check out Income Tax Notification 57/2023 issued by the Ministry of Finance, offering tax deduction relaxation for ship lease paym...
Income Tax : Circular No. 13/2023-Income Tax: The government allows condonation of delay for filing returns of income claiming deduction u/s 80...
Income Tax : CBDT issued Notification No. 34/2023-Income Tax, dated May 30, 2023 & introduces amendments to rule 11AA of Income-tax Rules, ...
Income Tax : Submission of certificate for claiming deductions U/s. 80G of the Income-tax Act, 1961 in respect of donation made by an employee ...
In this article I want to introduce tax planning hints for taxpayers having housing loans and what are additional benefits available to taxpayers for claiming interest on housing loan under section 80EE and 80EEA
Polyflex (India) Pvt. Ltd. Vs CIT (Supreme Court) SC ruling denying 80IB claim to manufacturer of intermediary product for the end product falling under entry 25 of 11th schedule of Income Tax Act, 1961. Sub- Whether deduction u/s 80IB can be claimed by a manufacturer of an item which falls under entry 25 of the […]
Malwa Coop. L & C Society Ltd. ITO (ITAT Amritsar) In this case Hon’ble ITAT already determined the turnover, and the direction was made accordingly. Also related to deduction u/s 80P(2)(a)(vi) specific direction was made by the Hon’ble ITAT in its order dated 13.10.204 in ITA No. 483/Asr/2014. ITAT heard the rival submissions and relied […]
Understand the tax implications of interest on securities and income from house property for co-operative societies. Learn about Section 80P(2)(f) deduction and eligibility criteria.
Section 80P(2)(a)(i) Deduction is allowable when interest is derived from credit provided to its members by co-operative credit societies
JCIT Vs Shree Ganesh Construction (ITAT Ahmedabad) It is observed that even though the original receipt for payment of donation of Rs.50,000/- made to Chief Minister Kanya Kelvani Nidhi was not produced by the assessee as the same was lost or misplaced, sufficient evidence was produced by the assessee to support and substantiate its claim […]
Himachal Pradesh High Court held that benefit u/s 80IC not available when only small part of entire process is carried out at unit and other process is outsourced.
The controversy revolves around the word ‘derived’ and the word ‘industrial undertaking’. The question is whether the interest paid on delayed payments form part of profits and gains derived from an industrial undertaking?
Interest income earned by assessee on its investments with a co-operative bank would be eligible for claim of deduction under Sec. 80P(2)(d) of Act.
All Corporates are ready to file their Income Tax Return for the AY 22-23 on or before 30th September 2022 and claiming various deduction under Chapter VI A of the Income Tax Act 1961.
