Income Tax

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How to file an Income Tax Return (ITR)?

It’s that time of the year again when the common man is buzzed with the question of how to file an Income Tax Return (ITR). The Income Tax Returns can… Read more

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Income Tax efiling Online in 6 Simple Steps for Free

Income Tax efiling can be done online through the Income Tax Website without any cost in 2 different ways:- Income Tax efiling by downloading the ITR Java utility or the… Read more

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ITR 2A: All about new Income Tax Form for AY 2016-17

The Income Tax Department has released the new ITR Forms applicable for AY 2016-17. Apart from the normal ITR Forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, ITR 4S… Read more

section 80ccc-Pension

Section 80CCC: Tax Deduction for Contribution to Pension Funds

Section 80CCC was introduced so as to encourage taxpayers to invest in Pension Funds and secure their future. Section 80CCC provides for Income Tax Deduction for contribution to Pension Funds… Read more

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Amendment in Section 288: Appointment of Auditor: Budget 2015

Budget 2015 which was presented by Arun Jaitley on 28th Feb 2015 has introduced an Amendment in Section 288 of the Income Tax Act to provide that an Auditor who… Read more

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Income Tax & TDS on Interest on Recurring Deposit (RD)

When you have a lump-sum amount to invest, it is always advisable to invest in Fixed Deposits. But when you don’t have a lump-sum amount to invest, and can save… Read more

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Section 80DDB: Deduction for Treatment of Specified Disease

Section 80DDB provides for Income Tax Deduction under Chapter VI-A for payment of medical treatment of a person suffering from a specified disease. The deduction under Section 80DDB is allowed… Read more

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Wealth Tax in India abolished & removed: Budget 2015

Wealth Tax in India was introduced in India in the year 1957 and is levied on Individuals, HUF’s and Companies if the Net Wealth of such person exceeds Rs. 30… Read more

Section-80D

Section 80D: Deduction for Medical Insurance & Health Checkup

Section 80D provides for tax deduction from the total taxable income for the payment (by any mode other than cash) of medical insurance premium paid by an Individual or a… Read more

Section 80CCD-NPS

Section 80CCD: Deduction for NPS Contribution (Updated)

Income Tax Act provides for various deductions under Chapter VI-A for Contribution to Pension Plans. These Deductions are available under Section 80C, Section 80CCC & Section 80CCD and can be… Read more