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Introduction- Angel Tax Relief vide latest DIPP notification dated 16th January 2019 has provided the exemption from under clause (viib) of sub-section (2) of section 56 for startups and Investors. The application for approval shall be made in Form-2 to DIPP along with the specified document..

Posted in Income Tax |   1992 Views

Introduction- Section 80E allows deduction in respect of payment of interest on loan taken from any financial institution or any approved charitable institution for higher education for the purpose of pursuing his higher education or for the purpose of higher education of his spouse or his childr..

Posted in Income Tax  7 comments |   3588 Views

.style1 { margin-bottom: 0px; } Introduction about this scheme (Section 44AE)-  The presumptive taxation scheme of section 44AE can be adopted by a person who is engaged in the business of plying, hiring or leasing of goods carriages and who does not own more than 10 goods ve..

Posted in Income Tax  10 comments |   4175 Views

This deduction is available to Resident Individual for himself. Disability under section 80U- The disability should be prescribed by specialized Doctor of specific diseases or having Doctorate of Medicine degree or equivalent qualification etc. Blindness Low vision Hearing Impairment ..

Posted in Income Tax  17 comments |   2700 Views

Introduction- Pardhan Mantri Vaya Vandana Yojna is one of the good investment plans for senior citizens, who has completed 60 years or above. The interest earned from this plan can meet out your household expenses while the balance amount can be further invested in any other schemes also. It..

Posted in Income Tax  16 comments |   3447 Views

What is Advance Tax? Advance Income Tax means to pay your yearly income tax liability in installments. It reduces the excess burden of assessee's at the end financial year. It is obligatory to pay advance tax in every case where the advance tax payable is Rs.10,000 or more in any financial year. ..

Posted in Income Tax  9 comments |   3750 Views

This deduction is available to all Residents Individual or HUF, for medical treatment of disabled dependent relatives. In case of Individual - Disabled dependent can be Spouse, Children, Parents, Brother/Sister (siblings). In case of HUF - Any member of the HUF Disability under section ..

Posted in Income Tax  11 comments |   2525 Views

Senior Citizen Savings Scheme (SCSS)

  VISHAL BANSAL    05 December 2018 at 17:36

“Wealthy people invest first and spend what’s left and broke people spend first and invest what’s left.” Introduction- Senior Citizens Saving Scheme is a very good opportunity for senior citizens above 60 years to make money. The interest earned from this plan can ..

Posted in Income Tax  11 comments |   2762 Views

Public Provident Fund Account (PPF)

  VISHAL BANSAL    03 December 2018 at 17:16

"Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future."  Introduction Public Provident Fund is one of the best, trustworthy and popular investment scheme. It offers guaranteed, risk free returns. PPF account..

Posted in Income Tax  13 comments |   3280 Views

Monthly Income Scheme (MIS)

  VISHAL BANSAL    03 December 2018 at 17:16

“The rich invest in time, the poor invest in money.”  Introduction- Monthly Income Scheme is best for retired persons, earning a regular income from their investments is one of their top priorities. This scheme helps to meet out their monthly household expenses, even for ..

Posted in Income Tax  8 comments |   3100 Views

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