Income Tax Tax Deductions related News, Article, Notification, Judgments covering all section Including Section 80C, 80D, 80TTA, 80HHC, 80JJA
Income Tax : Income-tax Act, 2025 reorganises Chapter VI-A deductions into Chapter VIII from 1 April 2026 while largely retaining existing bene...
Income Tax : Explore all major deductions available under the Income-tax Act for AY 2026-27. The guide covers salary, business, house property,...
Income Tax : Tax on dividends, interest, royalties and FTS earned by non-residents is governed by the more beneficial rate under the Income-tax...
Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...
Income Tax : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...
Income Tax : This explainer breaks down how Section 80G deductions work and who can claim them. It highlights deduction categories, qualifying ...
Corporate Law : Finance Bill 2024 updates Section 80G to reflect "National Sports Development Fund" and changes approval procedures for charities....
Income Tax : Learn about the amended provisions allowing non-government employers to deduct up to 14% of employee salaries for pension scheme ...
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 : ITAT Ahmedabad upheld disallowance of Section 80GGC deduction, holding the Revenue's investigation established the donation formed...
Income Tax : Supreme Court held that services rendered by marine product procurement agents did not qualify for deduction under Section 80-O as...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : The Tribunal upheld deletion of disallowance where the tax authority failed to produce direct evidence linking the taxpayer to any...
Income Tax : Bombay High Court granted interim relief to a co-operative credit society, restraining coercive tax recovery in a Section 80P dedu...
Income Tax : CBDT corrigendum adds Sikkim to the list of eligible states for income tax deductions under Section 80-IE for North-Eastern undert...
Income Tax : CBDT issues corrigendum adding Sikkim to Schedule 80-IE for income tax deductions under Section 80-IE for North-Eastern undertakin...
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...
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...
The ITAT has denied a deduction under Section 80ID for Ramesh Bhatia HUF, ruling that a previously used hotel building doesn’t qualify as a new business for tax purposes.
A co-operative society tax deduction was denied due to a late return. The ITAT has sent the case back to the CIT(A) for a fresh look citing an error in the previous ruling.
The ITAT Delhi allows a taxpayer to claim a Section 80C deduction even though it was initially omitted from their tax return, citing a lack of a bar in the law for that year.
Understand the difference between Section 87A rebate and 80C deductions under the Income Tax Act. Learn how these provisions lower your tax liability and which savings qualify.
Delhi ITAT rules that Section 80IC deduction cannot be denied if Form 10CCB is filed before assessment, not necessarily with the original return.
Understand key income tax deductions under the Income Tax Act, including Sections 80C, 80D, and 24(b). Learn how to lower your taxable income and save money.
Mumbai ITAT rules ACG Pam Pharma’s CSR donations are eligible for Section 80G deduction, quashing PCIT’s revisional order and restoring the AO’s assessment.
ITAT Mumbai rules cooperative housing societies can claim Section 80P(2)(d) deduction on interest from co-operative banks. Interest from nationalized banks is not eligible.
Summary: Under the Income Tax Act, individuals can claim tax deductions on insurance premiums, offering relief while ensuring financial protection. Premiums paid on life insurance policies qualify for deduction under Section 80C, up to a limit of ₹1.5 lakh annually, including other eligible investments, but only under the old tax regime. Health insurance and Mediclaim […]
ITAT Mumbai quashes PCIT’s revision, confirming Dalal And Broacha Stock Broking’s Section 80G deduction on CSR expenses, citing judicial precedents.
