ITR 6 Form
What is ITR 6 Form? It is mandatory for every company to file income tax return in ITR 6 form except the companies already claiming exemption under Section-11 of the income tax act, 1961. Companies [...]
Blog
Union Budget 2020
Union budget 2020 Date The union budget is going to be announced on February 1, 2020 by Finance Minister Nirmala Sitharaman. This is the first full year budget after the people selected PM Modi’s [...]
ITR 3 Form
What is ITR 3 Form? Individuals or HUF’s (must be partners in a firm) earning income from a business or profession in the form of profits & gains are eligible to file ITR 3. It is mandatory for a [...]
Section 80C: Income Tax Deduction under Section 80C in India
Section 80C Section 80C of the income tax act came into effect from 1st April 2016 and is applicable on individuals and HUF’s only. Under section 80C of the income tax act, any individual or HUF is [...]
Section 80D: Income Tax Deduction for Medical Insurance & Health Checkups
Section 80D Section 80D allows you to claim deduction on money spent as premium on health insurance policy and health care of your family members including parents. This deduction can be claimed by a [...]
Section 80DD: Income Tax Deduction for Disabled Person Medical Treatment
Section 80DD Under section 80DD of the income tax act, any resident individual or HUF can claim tax deduction for the medical treatment of an individual dependent on him having disability or severe [...]
Section 80DDB: Income Tax Deduction in Respect of Medical Treatment of Specified Diseases
Section 80DDB Section 80DDB of the income tax act defines tax saving provisions for individuals that helps them in covering the expenses incurred by them on the treatment of certain specified [...]
Section 80G: Income Tax Deduction for Donations
Section 80G Under section 80G of the income tax act, contributions made towards relief funds & charitable institutions can be claimed as deduction. The amount of donation can be claimed as tax [...]
Section 80EEA: Deduction for Interest Paid on Home Loan for Affordable Housing
Section 80EEA Overview Section 80EE is an existing provision which allows deduction up to Rs. 50000 on interest, paid by first time home buyers on a loan sanctioned by financial institution between [...]
Section 80EEB: Tax Exemption on Purchase of Electric Vehicles
Section 80EEB Overview In union budget 2019, government announced incentive on purchase of electric vehicles. It has also been said by the finance minister that this scheme is applicable on advanced [...]
