Tax saving options : 80C,80CCC,80CCD,80D,80U,80E,24 Deductions not allowed in the new tax regime List of Deductions, Exemptions still available The income tax deductions still available in the new regime include: Death-cum-retirement benefit Commutations of pensions Leave encashment on retirement...
Health insurance premiums paid for self, spouse or children, also get a tax deduction benefit under Section 80 D. Under Section 80 E you get a deduction on repayment of education loan (only interest) For example, if your gross income is Rs 7 lakh and you invest Rs 1 lakh in an instrum...
However, everybody and anybody is not entitled to take benefit of the aforesaid rebate. Anybody and everybody are not eligible for this rebate. For Instance, HUFs and NRIs are not entitled to this rebate. So Who is Eligible for This Rebate Under Section 87A? There has always been chaos,...
Restoration of Indexation Benefit for Long-Term Capital Gains- Budget - 2024 Govt of India has proposed that indexation benefit under Long-Term Capital Gains will be restored for immovable property bought before July 23, 2024. As per the provisions, the Long-Term Capital Gains tax would be cal...
Once you have the results, then compare the figure to the Tax Payable under the Old Regime and the Tax Payable under the New Regime. Interestingly, the tax benefit will also be displayed in the calculator. Eventually, make an informed decision by using the E-calculator as a reference. ...
iii) The value of any benefit or amenity granted or provided free of cost or at concessional rate in any of the following cases: a) By a company to an employee who is a director of such company; b) By a company to an employee who has a substantial i...
Therefore, please ensure that you are claiming the benefit of any of these sections correctly in accordance with the provisions of law. (iv) Item C of this Schedule computes the total of short-term capital gain and long-term capital gain (item A4 + item B5). Please note that if balance...
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Under the ‘General Information’ tab, choose the ‘return filing section’ as ‘revised return’ under Section 139(5) and ‘return filing’ type as ‘revised’. Enter the acknowledgment Number and Date of filing of the original return. ...