sections 80C to 80U. • However, the Condition (s). The maximum amount deductible under section 80C, 80CCC, TO A.Y. Qualifying. Under Section 80C, deduction would be available from Gross Total Income. . referred to insection 80U or suffering from disease or ailment specified in section . during the previous years relevant to assessment year or Chapter VI-A of Indian Income Tax Act deals with these deductions. For financial year (Assessment Year ), following are few important.
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This section is new and announced in Budget All companies are also required to compulsorily file their income tax return electronically with Digital signature. Your email address will not be sold or shared with anyone else. I am paying 1. Deduction under Chapter VI-A.
Whether any relief is available to pensioners of 60 years age under sec88 b N K Kacker. Assets to be acquired for exemption. I heard that as senior citizens I need not pay interest on income tax even if it has not been paid before 31 march Should tp pay GTA while payment of service Tax? Valuation of perquisites rules are available here 8.
For this I have return to my PAO but no such reply till date. Erappa September 21, at 5: Any sum deducted form salary payable to Govt. I resigned from the service of a company and opted for full payment standing to my credit in the company managed recognized Trust Fund in the year and joined a new service in India. Deduction in respect of certain undertakings in North Eastern States.
Rebate u/s 87A of the Income Tax Act » Sensys Blog.
Expenses towards payment of premium to keep in force a contract for an annuity plan of LIC or any other insurance agency. Chart Showing Computation of ‘Salary’ Income.
Preet Pabla August 21, at Anonymous July 25, at 7: Contributions to certain pension funds of LIC or any other insurer up to Rs.
An additional deduction of up-to 30, is allowed if individual purchase a premium towards insurance for parents.
Chapter VI-A: Section 80C to 80U to save Income Tax
I run my own clinic in Delhi. In our view both service tax and income tax is applicable. Pls clarify that if i am housewife now then how much money i can invest in mutual funds and what is the limit of my savings which is tax free?
Profits and gains from business of hotels and convention centres in specified areas subject to certain conditions. Working for TATA motors. RS July 17, at 1: Short Term Capital Losses. With effect from deduction will not be allowed if sum is contributed in cash.
First you office must have deducted tax on pension also. With effect from assessment yearsub-section 1A of Section 80CCD which laid down maximum deduction limit of Rs. I have also investments in shares and i deducyion been filing itr2 regularly.
However you should match tds figure in form 26AS and Form Citizen, I got all the information I wanted to calculate my incometax, from this website. If any amount, including interest accrued thereon, is withdrawn by the assessee from his deposit account made under a Senior Citizen Saving Scheme or b Post Office Time Deposit Rules, before the expiry of the period of five years from the date of its deposit, the amount so withdrawn shall be deemed to be the income of the assessee of the previous year in which the amount is withdrawn and shall be liable to tax in the assessment year relevant to such previous year.
INCOME TAX RATES 2011-12 EXEMPTION DEDUCTION TAX CALCULATION INCOME TAX READY RECKONER FREE
Thank u for the very prompt reply but I also have a few more queries and I request sction kindly to answer them. Remarks It should be noted that individual or spouse or minor child should not have undre accommodation at the place of individual workplace. Deduction under section 80C is available only to individual or HUF.
Contribution to Central Government Pension Schemes. Unknown August 3, at 6: Amount deposited in as Term Deposit for a period of 5 years or more in accordance with a scheme framed by the Government.
Can I get ho of claiming full interest as a tax free in addition to 1. A person shall be treated as having acquired any shares or debentures on the date on which his name is entered in relation to those shares or debentures in the register of members or of debenture-holders, as the case may be, of the public company.
Amount invested in approved Debenture ofand equity shares in, public company engaged in infrastructure. Deduction under section 80C- How to find out.