Who is eligible for deduction u/s 80GG?
Only an individual can claim deduction under section 80GG. He can be a self-employed person.
Thursday, 24 October 2019
Wednesday, 23 October 2019
Section 80EE - Deduction on Home Loan Interest
Tax deduction under Section 80EE of the Income Tax Act 1961, can be claimed by first-time home buyers
for the amount they pay as interest on the home loan. The maximum
deduction that can be claimed under this section is Rs. 50,000 during a
financial year. The amount can be claimed over and beyond the deduction
of Section 24 and Section 80C, which are Rs. 2,00,000 and Rs. 1,50,000, respectively.
Tuesday, 22 October 2019
Section 87A provides an income tax rebate to a resident individual having prescribed income. This rebate is also available to senior citizens. However, for a Super Senior Citizens, this deduction becomes irrelevant.
Monday, 21 October 2019
Sunday, 20 October 2019
Saturday, 19 October 2019
Friday, 18 October 2019
Subscribe to:
Comments (Atom)
