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...
ITAT Mumbai allows 80P(2)(a)(i) deduction for cooperative credit society, including interest from cooperative banks, reversing lower orders.
ITAT Hyderabad sustains Section 68 additions, denies deductions for LIC premium and tuition fees, dismissing the assessee’s appeal for AYs 2011-12 & 2012-13.
ITAT Rajkot dismisses Liliya Lathi Sahkari Sangh’s appeal as infructuous after CCIT condones late filing delay, directing AO to pass a consequential order.
The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, acquiring a comprehensive understanding of fundamental concepts such as Gross Total Income (GTI) and deductions can substantially influence financial management and the reduction of tax liabilities. Both GTI and deductions serve as critical elements in ascertaining tax […]
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.
Learn about tax benefits under Section 80CCD for NPS Vatsalya contributions. Includes details on deductions, withdrawals, and related income tax amendments.
Section 80-IAC is amended to extend 100% profit deduction for eligible start-ups incorporated until April 1, 2030, effective from April 1, 2025.
Finance Bill 2025 extends tax benefits for NPS Vatsalya contributions for minor children, allowing deductions up to Rs. 50,000 under Section 80CCD.
The Finance Bill 2025 extends the tax deduction under Section 80-IAC for eligible startups until 2030, providing a 100% deduction on business profits.
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.
