income tax act
Section 80GG — Deductions on Rent Paid
Rishabh Ranjan Nov 26, 2020 9:25 AM
In general, the House Rent Allowance or HRA is a component of the salary of an individual, and the individual can claim tax deductions on…
Tax Evasion in India and Penalties Imposed
Shalini L Oct 30, 2020 8:12 AM
Tax evasion is defined as the non-payment or underpayment of tax by the taxpayers and is considered illegal. Taxes are the primary source of income…
Tax Deductions Under Section 80CCC
Rishabh Ranjan Aug 26, 2020 8:05 AM
What is Section 80CCC? The Section 80CCC of Income Tax Act, 1961, allows an individual to claim deductions in taxes up to a maximum amount…
A Detailed Guide Covering Deductions Under Section 80DD
Rishabh Ranjan Aug 15, 2020 7:22 AM
What is Section 80DD? A resident individual or HUF (Hindu Undivided Family) can claim a deduction in taxes under Section 80DD of Income Tax Act,…
What is a Tax Audit?
Shalini L May 19, 2020 9:00 AM
Tax audits are the audit of books of account for certain individuals, businesses or companies as given under the provisions of Section 44AB. A tax…
Section 80CCD: Everything You Need to Know
Shalini L Mar 19, 2020 9:30 AM
The Income Tax Act, 1961 gives taxpayers a lot of relief from tax liability through deductions given that the taxpayers file and pay the tax…
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