Income Tax Audit under Section 44AB Income Tax audit under section 44AB defines tax provisions of the tax audit for a business entity. According to the tax provisions laid down under section 44AB [...]
What is ITR 7 Form? Individuals and companies earning income from properties and using it for charitable or religious purposes need to file form ITR 7 while filing income tax return. It is filled by [...]
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 [...]
Budget 2020 The union budget is presented by Finance Minister Nirmala Sitharaman on February 1, 2020 . This is the first full year budget after the people selected PM Modi’s BJP party again in the [...]
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 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 [...]
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 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 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 Under section 80G of the income tax act, contributions made towards relief funds & charitable institutions can be claimed as a deduction. The amount of donation can be claimed as a [...]
