Introduction Section 80C is a crucial provision that allows individuals toreduce their taxable income by making specific investments or incurring eligible expenses. Both individuals and HUFs (Hindu Undivided Families)… Read More »Section 80C – Income Tax Deduction under Section 80C
Introduction Section 80EEA of the Income Tax Act was introduced with a significant vision to promote “Affordable Housing.” This initiative aimed to make home ownership more accessible and… Read More »Section 80EEA – Deduction for interest paid on home loan for affordable housing
Inroduction Form-16 is the TDS certificate issued by your employer when they deduct TDS. When an employer deducts TDS on salaries, the income tax act requires… Read More »Form 16: What is Form 16? How to Download Form 16 For FY 2023-24
Intoduction Section 80EEB was introduced in the 2019 budget by the Indian government with the aim to promote the adoption of electric vehicles (EVs) and… Read More »Section 80EEB – Deduction in respect of interest paid on loan taken for the purchase of electric vehicle
FAQs on Refund on Account of Export of Goods Am I eligible to receive the refund of IGST and Cess paid on export of… Read More »Refund on Account of Export of Goods (With Payment of Tax)
Introduction The income taxable in the hands of an individual and tax liability thereon shall be computed according to his residential status. The income taxable… Read More »How To Compute Tax Liability of an Individual
Capital gains on compulsory acquisition of immovable property [Section 45(5)] The capital gains arising from the compulsory acquisition of immovable property shall be taxable in… Read More »Section 45(5) – Compulsory Acquisition
Introduction The provisions of tax deducted at source presently apply to several payments like salary, interest, commission, brokerage, professional fees, royalty, etc. In this part,… Read More »Section 194A: TDS on Interest other than Interest on Securities
Introduction It is mandatory for every taxpayer to communicate the details of his income to the Income tax Department. These details are to be furnished… Read More »Return of Income : Section 139 of Income Tax Act
Introduction A very common and frequent question running in the mind of taxpayers is the taxability of gifts. In this part, you can gain knowledge… Read More »How are Gifts Taxed? – Gift Tax Exemption Relatives List