Section 80C of the Income Tax Act allows tax deduction for various products. The maximum deduction allowed in a financial year is Rs. 1,50,000.
There is an unknown general rule of the income tax act 1961 which disallows you to claim deductions. In this article, we will make you understand everything about it.
The Income Tax Department allows scope for deductions not only on income earned but also on the donations made. Taxpayers participating in philanthropic activities can avail of tax deductions subject to certain conditions.
It is important to submit the investment proofs in the last quarter of the FY to avoid TDS deduction from salary. One can also claim the income tax refund at the time of filing their ITR if they miss submitting the investment proofs. Read further to know more
Getting protected financially in both ways, against uncertainties and tax, is the very first thing we look for before investing. In this article, we will explain how insurances help you in saving tax.
The Income Tax tribunal held that the payment towards maintenance charges have to be made after 2% TDS when the receivers for rent and other charges are separate.
Section 80TTB of the Income Tax Act provides tax deductions to senior citizens on income earned from interest on deposits held with banks, post offices and cooperative societies. It allows a deduction of up to ₹50,000 from the total income of such individuals.
Buy insurance not only to secure your life and health but also for associated tax benefits. Different insurance plans come with different benefits and hence investors must choose to buy them accordingly. Read further to know more
Union Budget: Move amid a spurt in amounts locked up in disputes.
There are some salary allowances that you may include to claim the much-needed tax exemptions.
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