Section 80GGB of Income Tax Act, 1961 enables all Indian companies registered under the Companies Act of 2013… Read More 5 minute read How to Benefit From Section 80CCD (1B) Tax Deductions?September 16, 2024 With Section 80CCD(1B), you can claim an extra deduction of up to ₹...
Individuals above 60 years of age but less than 80 years. Individuals over the age of 80. What are the Different Types of Income? For the purpose of simple classification and categorization, the Income Tax Department has divided the income into 5 different categories as follows: Type of Income...
80EEB (Interest paid on loan for purchase of electrical vehicle) Exemption Limit : ₹1,50,000 80G (Donations to charity) Calculate income tax Disclaimer: Zoho has taken great care and has made every attempt to ensure that the information obtained from the tool is accurate. However, Zoh...
Freelancers in India are required topay advance tax, also known as quarterly tax payments, if their estimated tax liability for the financial year exceeds a certain threshold. Advance tax payments are made in installments throughout the year, and failure to pay them on time may attract penalties...
Section 24(b) allows for a deduction on interest paid on a home loan for a rented-out property. Employer contribution to NPS under 80CCD (1B) is available upto 14% of salary. Similarly, PPF and Sukanya Samriddhi Yojana maturity proceeds and interest remain tax-free. The new tax law onl...
The Income Tax Calculator is a free tool developed by Zoho to calculate taxes on your income using the most up-to-date tax brackets including the latest ones announced as part of the Union Budget 2024-2025.
(b) in the scheme referred to in sub-section (2) of section 80CCD; and (c) in an approved superannuation fund, to the extent it exceeds seven lakh and fifty thousand rupees in a previous year; (viia) the annual accretion by way of interest, dividend or any...
NRI and ITR :TDS,Tax and Income Tax Return Bank Accounts for NRI:NRO,NRE,FCNR, Their comparison NRI : Fixed Deposits, DTAA How to report Incomes from India while filing US tax returns Saving Taxes, various sections How to save tax? Tax saving options : 80C,80CCC,80CCD,80D,80U,80E...
Understand income tax deductions in India. Check out the various tax deductions on rent, health insurance, education loan, donation, capital gains & much more.
Ref:Finotax:Deductions Allowable under various sections of Chapter VIA of Income Tax Act,NiftyPredictions:INDIA INCOME TAX ACT- TAX DEDUCTIONS, TAX EXEMPTIONS 80C 80D 80DD 80E 80GG 24 80G Verify Tax Deducted at Source Tax deducted at Source or TDSis a certain percentage deducted at the time...