Tag: Income Tax Deductions

The Income Tax Act provides for various income tax deductions which can be claimed at the time of filing of income tax returns. The total taxable income (after reducing the...

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...

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...

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...

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...

To promote education in India, the govt allows for Income Tax Deduction under Section 80C & Section 80E. Deduction under Section 80C is allowed for payments made by self and...

To promote the Retail Investor to invest in Shares and Mutual Funds, the Govt has introduced the Rajiv Gandhi Equity Saving Scheme (RGESS) which allows a deduction under Section 80CCG...

Deduction under Section 80GGA is an Income Tax Deduction for Donations made for Scientific Research or Rural Development. The whole amount given as donation to the institutions specified under Section...

Income Tax Rebate under Section 87A is allowed as per the following schedule for different Financial Years Financial Year Amount of Rebate Applicable only if Income is less than 2018-19...