80DD: Claim Deduction Without Proof of Expenditure !

Section 80DD of the Income tax Act provides deduction for medical expense on self and relatives  , suffering from specified disease or from disability. Unlike section  80DDB and certain other are relavant provisions , the provision does not put an express condition of proof of expenditure for making claim of deduction. However, most people and mostly...

This content is for Monthly, annual and Semi Annual members only. Please login to view this content. (Subscribe Plans.)

No need of tax audit if shares held as investments !

Many readers who are investors of shares are confused about law of tax audit under Income Tax Act. Today only , Mr. Jay of Chennai asks “I have a long term capital gain of about rs. 30 lakhs from one time sale of shares only, and income of 12 lakhs.I am self employed.no salary.no business....

This content is for Monthly, annual and Semi Annual members only. Please login to view this content. (Subscribe Plans.)

8 Answers You Must Know To Claim Deduction For Medical Insurance!

Hello, My question is regarding the Deduction under section 80D for Premium paid on Medical Insurance. I work for an IT company, and the company has a tie up with a health insurance company to provide coverage for me, wife and kids, the premium for which is paid by the company. But I have taken...

This content is for Monthly, annual and Semi Annual members only. Please login to view this content. (Subscribe Plans.)