Income Tax Deductions

Chapter VIA Deductions at a Glance, List of all Income Tax deductions from u/s 80C to 80U. Chapter VIA List of All Deductions at a Glance, Deduction under Chapter VI-A. Here we are providing a list of all deductions covered under  Chapter…

Know About Mediclaim Policy & Deduction Under Section 80D. Section 80D provides deduction to an individual or a Hindu undivided family towards medical insurance premium and preventive health check-up or contribution to Central…

Section 44 ADA: Presumptive Tax Scheme for Professionals. Difference Between Section 44AD & 44ADA, Presumptive Income Computation System for Professionals. In this article we provide complete details for Section 44AD, as…

Deduction for School Fees Paid u/s 80c.Section 80C of income tax act allows deduction in respect of many payments and investments made. Section 80C allows deduction for payment of Education Fees paid for the Education of Children. Any…

Deduction under section 80C, 80CCC & 80CCD for AY 2020-21 or For financial year 2019-20 (Including Budget amendments). Deductions on Section 80C, 80CCC & 80CCD for FY 2019-20. In this article you may find complete details for how…

Deduction for Medical Insurance Premium Under Section 80D. Section 80D provides deduction to an individual or a Hindu undivided family towards medical insurance premium and preventive health check-up or contribution to Central Government…

Section 80GGA Deduction for Donation For Scientific Research, Detailed Analysis of Section 80 GGA, We all know that Section 80G provides a comprehensive list of deductions available for donations. Here, let us do a detailed analysis of…

Deduction For Donation Under Section 80G, How to Claim Deduction For Donation U/s 80G. Section 80G provides deduction to all assessee’s for donations to specified organizations or institutions or funds. However, any donation of any sum…

Section 80IA - Deduction in respect of profits and gains from industrial undertakings or enterprise engaged in infrastructure development: Section 80IA is profit based deduction, which actually goes on to exempting the profits generated by…

Tax Treatment of Gifts Received By an Individual or HUF. A very common and frequent question running in the mind of taxpayers is the taxability of gifts. In this part, you can gain knowledge about various provisions relating to taxability…

Interest Expenses - Deduction & ITS Assessment under Income Tax Act: The Income-tax Act, 1961 (hereinafter "the Act") provides detailed provisions to claim a deduction of expenses incurred for earning business income. Sections 30 to 36…

Section 43B Deductions Based Actual Payments, As per section 43B of income tax there are certain expenses which can not be claimed as deduction unless they are actually paid.Section 43B overrides all the other sections of income tax…