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Thursday, 17 October 2019


WHO ARE NOT GET HOUSE RENT FROM HIS EMPLOYER, HE CAN CLAIM HOUSE RENT EXEMPTION U/S 80GG
Section 80GG
The tax Deduction amount under 80GG is Rs 60,000 per annum. Section 80GG is applicable to all those individuals who do not own a residential house & do not receive HRA (House Rent Allowance).

Wednesday, 16 October 2019


WHO ARE NOT GET HOUSE RENT FROM HIS EMPLOYER, HE CAN CLAIM HOUSE RENT EXEMPTION U/S 80GG
Section 80GG
The Tax Deduction amount under 80GG is Rs 60,000 per annum. Section 80GG is applicable to all those individuals who do not own a residential house & do not receive HRA (House Rent Allowance).

Tuesday, 15 October 2019


Revised Rebate under Section 87A
Tax rebate of Rs 12,500 for individuals with a taxable income of up to Rs 5 Lakh has been proposed in Interim-Budget 2019-20-18 / AY 2020-21 as well.
  • Only Individual Assesses earning net taxable income up to Rs 5 lakhs are eligible to enjoy tax rebate u/s 87A.

Monday, 14 October 2019


Revised Rebate under Section 87A
Tax rebate of Rs 12,500 for individuals with a taxable income of up to Rs 5 Lakh has been proposed in Interim-Budget 2019-20-18 / AY 2020-21 as well.
  • Only Individual Assesses earning net taxable income up to Rs 5 lakhs are eligible to enjoy tax rebate u/s 87A.

Sunday, 13 October 2019


The maximum tax exemption limit under Section 80C has been retained at Rs 1.5 Lakh only. The various investment avenues or expenses that can be claimed as tax deductions under section 80c are as below;

Saturday, 12 October 2019


Section 80D
In the union budget 2018, the government of India has proposed the below changes for deductions available on Health Insurance and/or towards Medical treatment. The same provisions are applicable for FY 2019-20 as well;

Friday, 11 October 2019

Section 80DDB
An individual (less than 60 years of age) can claim up to Rs 40,000 for the treatment of specified critical ailments. This can also be claimed on behalf of the dependents. The tax deduction limit under this section for Senior Citizens and very Senior Citizens (above 80 years) has been revised to Rs 1,00,000 w.e.f FY 2018-19.