Tax Deduction Savings Can be Up to Rs 2 Lakh From This Year...

This is a good news for everyone , specially salary class and common taxpayers who were till now had the facility of tax deduction savings...

Accrued Interest in PPF & PF Eligible for 80C Deduction from 01/04/2003 !

The interest on PPF accrues to an account holder and again earns interest . Similar is the case with provident fund. Now , if...

What Are The Diseases Covered Under Section 80DDB?

The deduction under section 80DDB for treatment of specified diseases under Income Tax Act provides relief  to a tax payer who is spending on...
Late Fee

Late Fee paid in Addition to Premium on LIC Policy Is Eligible for Deduction...

One of the premium subscriber of this site , Sri Luxminarayan Bhattad  , has asked "whether late fee paid in addition to premium on...
http://taxworry.com/section-26-property-owned-by-co-owners/

Can Wife Claim Deduction of Interest & Under Section 80C Despite Husband Paying...

Me and My husband have taken a home loan last year. It was a joint loan on a property. EMI is paid from my husband's salary account. Can I take tax benefits for it even though I am not contributing to paying EMI. The interest statement has names of both of us. Rashmi, Delhi Yes
disability deduction

Disability Deduction u/s 80U simplified in six steps !

Section 80U of the I T Act provides deduction to person sffering from specified disability by at least to the extent of 40 % or in case of sever disability , 80 % suffering. For claiming deduction,you ought to have the certificate first , before you can claim the deduction u/s 80U. As per Rule 11A of I T Rules, medical authority for issuing certificate of disability are
section 80EE

3 Scenarios : Section 80EE Can Provide Extra Rs 1 Lakh Deductions !

Section 80EE of the Income Tax Act is a new provision allowing deduction upto Rs 1 lakh from gross total income for interest on...
deduction u/s 80C

Claimed Deduction u/s 80C on Insurance Policy ,Don’t Do This Mistake !

It is very common for people to buy insurance policy -life insurance, unit linked insurance plan (ULIP) for covering risk on the family ....
disability form

Get Disability Certificate Form- 80DD or 8DDB or 80U?

Your search for prescribed forms for disability certificates under section 80DD or 80DDB or 80U ends here. Three sections under I T Act prescribes for deduction...
surrender

Surrender of ULIP or Pension Plan-What You Must Know !

Surrender of ULIP or pension plan has its tax implication under Income Tax Act , which many investor to such plans or units may...

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