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deduction under section 80e

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Tax exemption to industry and commerce sectors


Direct Tax Various tax concessions in the form of exemptions deductions etc have been provided under the Income tax Act 1961 which have been availed by different sectors of Commerce and Industry also Cumulative figures of revenue impact of direct tax incentives for the last five years are as follows

Applicability of Income Computation and Disclosure Standards


Applicability of Income Computation and Disclosure Standards notified under section 145 2 of the Income tax Act 1961 from Assessment Year 2017 18 The Central Board of Direct Taxes has vide Press Release dated 6 07 2016 For copy click here clarified that the Income Computation Disclosure Standards sh

ICDS to be applicable from 1st April 2016


Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi 6th July 2016 Subject Applicability of Income Computation and Disclosure Standards ICDS notified under section 145 2 of the Income tax Act 1961 Vide Notification No SO 892 E dated 31st March 2015 Ce

MCA issues order regarding rotation of auditors


Ministry of Corporate Affairs has issued Companies Third Removal of Difficulty Order 2016 regarding applicability of the provisions of Rotation of Auditors as per Section 139 2 of the Companies Act 2013 PFA the enclosed attachment for more details

Government Notifies Rules regarding Fair market value


Government Notifies Rules regarding Fair market value and reporting requirement for Indian concern Indirect transfer provisions section 9 1 of the Income tax Act 1961 Under section 9 of the Income tax Act 1961 the Act any income arising from transfer of any share of or interest in a foreign company

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Experts Opinions

Section 24(b)


I took possession of my flat in 2004 after availing a housing loan from ICICI Bank and start claiming deduction of interest under income from house property In Feb 2008 I availed another loan under an written agreement from my relative for repairs renovation of this flat I started claiming both the

Section 54f capital gain


whether i can claim the Exemption u s 54F against the Repayment of Housing taken for the purpose of Purchase of Flat from the sale proceeds of Land sold Flat was purchased just 6 month before the land transfer and sale consideration was used for Repayment of housing loan

Tds deduction


My query is if my professional payment 29950 for the year should tds under 94j be deducted

Regarding intimation under section 200A/206CB of the Income Tax Act 1961


Dear Experts I have just received an intimation under 200A 206CB of I T Act on Interest on Late deduction collection of TDS MY QUESTION IS WHETHER I CAN FILE REVISED RETURN IN RESPONSE TO THE SAID INTIMATION WITHOUT EVEN PAYING THE DEMAND AMOUNT OR IS IT NECESSARY TO PAY THE DEMAND AMOUNT BEFORE AND

Deductions under income tax act


WHEATHER DEDUCTIONS UNDER INCOME TAX ACT ARE SHOWN ANYWHER IF SHOWS HOW TO CHECK PLEASE SUGGEST ME

Discussion

Tds deduction in case of salary

Whether liability to deduct TDS against salary arises if salary paid to empoyee is 2 50 lakhs or above or whether the TDS need to be deducted if salary is 2 70 lakhs or above due to rebate U S 87 A

Deduction under sec.80c

How much amount of PF contribution is qualified for 80C deduction for employee if employer is deducting 21 from employee s salary Is there any fix percentage of employee s contribution for claiming 80C deduction As in case of interest on PF

deduction 80 g

donation for Nepal earthquake has been deducted from salary can any one tell me what is the pan no pin code and address to be mentioned in itr

Deduction u/s80c

IF HOUSE LOAN TAKEN ON BASIS OF AGREEMENT FOR PURCHASE OF PROPERY IN THAT CASE ASSESSEE WILL BE ELIGIBLE FOR 80C REPAYMENT AND EXEMPTION OF HOME LOAN INTEREST OR NOT

Benefit under section 24(b) and 80ee

hello sir Madam I booked a ready flat in thane in April 16 loan Amount is 26 lacs my EMI will start from aug 16 and upto mar 17 approximate interest calculation will be 142000 and for principal it will be 13000 my question is can i claim deduction of Rs 50000 under section 80EE over and above the in

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File Download

  • Deduction Allowable To Taxpayer

    All Deduction Available To Tax Payer By Income Tax Act 1961 At One Place
  • Income Tax Calculation 2016-17

    Prepare form 16 upto 500 employee in single excel sheet Tax calculation and prepare section 89 1 relief from F Y 1985 86 to 2016 17 View Tax Rate for last 31 years Calculation of Tax under section 234A 234B 234C prepare challan no 280 281 Find out TDS TCS rates Find out Maturity value of Term Deposit RD House Rent Allowance rebate calculation and find out interest on NSC and much more in single excel sheet
  • Deduction from Total Income

    Deductions
  • Deduction u/s 80C :- ULIP vs ELSS

    The two products are often confused because both are tax saving instruments Here s what you should know before putting your money in either
  • Nature of Deduction in Income Tax

    NATURE OF DEDUCTIONS IN INCOME TAX

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Articles

Extract of postmortem of Section 44AD?


Dear All Section 44AD talks about presumptive taxation scheme under which an eligible assessee engaged in an eligible business can declare his profits gains minimum of 8 of turnover or gross receipts If he opts for the same then he need not to maintain books of accounts not liable for advance tax pa


Income Tax Deductions 2016-17


Dear All Here are Income tax Deductions taking effect of amendments as per finance budget 2016 presented by Mr Arun Jaitely Income tax deduction for AY 16 17 Section 80c The maximum tax exemption limit under Section 80C has been retained as Rs 1 5 Lakh only The various investment avenues or expenses


Learn How to Use Tax Deductions to Save Money


The Income Tax Department allows certain deductions which can be claimed to save tax at the time of filing the income tax return These deductions are only available if the taxpayer has done proper planning during the year To make the best use of these sections it is important to have their complete


Section 115-UB Tax on income of investment fund and its unit holders


Introduction Its Applicability Section 115 UB of Income Tax Act 1961 shall be inserted by the Finance Act 2015 and is applicable w e f 01 04 2016 Extract of Budget Speech 15 16 I propose to undertake a series of steps in this direction to attract capital both domestic and foreign Tax pass through is


TDS on sale of property @1% under Section 194IA


TDS on sale of property The buyer of an immovable property land flat apartment shop or a bungalow which is valued at Rs 50 lakh or more is required to pay a withholding tax to the government The prevailing withholding tax is deducted at source and is 1 of the consideration payable to the seller It i


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Updated on : 8/3/2016 6:09:11 PM


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