Simplify income tax filing with expert tips. Maximize refunds, understand deductions, and stay compliant with our resources.
To foster innovation and creativity, governments globally incentivise individuals and entities for their contributions to intellectual property. In India, one such incentive is provided under Section 80RRB of the Income Tax Act, which allows …
Section 80GGC of the Income Tax Act provides provisions for taxpayers to claim deductions on donations made to political parties in India. This section aims to encourage financial support to political organisations while ensuring …
Section 80GGB of the Income Tax Act provides a framework for incentivising contributions made to political parties in India. This section allows to claim deductions on donations extended to political parties to promote transparency …
Section 80GGA of the Income Tax Act provides a valuable avenue for incentivising contributions towards research and development activities in India. This section encourages individuals and entities to support scientific research, social sciences, rural …
Tax deductions are crucial in reducing taxable income and lowering tax liability. Section 80G of the Income Tax Act allows taxpayers to claim deductions for donations to specified funds and charitable institutions. Understanding the …
To claim a deduction under Section 80GG, an individual must reside in a rented property and not own any property in the same city. If the employer provides a Home Rent Allowance (HRA) as …
As the economy expands, expenditures on education are on the rise. The education sector constantly evolves, increasing the financial strain on middle-class households. An education loan assists in funding your higher studies and offers …
The Income Tax Department has taken a significant step towards enhancing transparency and fostering voluntary tax compliance with its latest initiative – the E-Verification Scheme 2021. This scheme addresses mismatches identified in Income Tax …
In India’s income tax laws, specific sections extend tax advantages to individuals or their family members grappling with disabilities. Among these provisions, Section 80U offers tax benefits to individuals coping with disabilities. While Section …
Taxpayers often seek clarity on obtaining certificates for claiming deductions under section 80DDB of the Income Tax Act. This section allows for deductions on expenses incurred for the medical treatment of specified diseases for …