Category Archives: Income Tax

Latest amendments, updates and notes related to the Income Tax 1961 and its Rule, Circulars and Notifications.

80C Deductions for Tax Panning | LIC, PF, Equity Share, NSC

Section 80C Deduction

Claim ₹1.5 Lakh deduction under section 80C of Income-tax Act, 1961-2016 for AY 2017-18 in respect of certain payments made in previous year 2016-17.

Income Tax Due Dates May 2017 | 12 Month Tax Calendar 2017

Tax Due Date

Last date of various dues under Income Tax Act, 1961 for the year 2017. ITR, 44AB Audit Report, Tax deducted/collected, TDS/TCS certificates.

Union Budget 2017-18 | Download Finance Bill 2017

Finance Bill 2017

Download Union Budget 2017 – Finance Bill 2017 in PDF. Tax proposals for Salaried tax payers. Amendments in various sections of finance Act, 2016.

Post Office Time Deposit Account | Interest Rates 2017

Post Office Deposit Account

Earn highest interest rate with Post Office Saving Schemes. Open 5-year Post Office Time Deposit Account to claim 80C Deduction benefit upto INR 150000.

List of Tax Deductions for computing Taxable Income of FY 2016-17

Chapter VIA Deductions

Chapter VIA deductions specified in sections 80C to 80U of Income-tax Act to be allowed while computing taxable income for Financial years 2016-17 onwards.

Section 80CCC of Income-tax Act 1961-2017 – Deduction in respect of contribution to certain pension funds

Detail analysis of the provisions of Section 80CCC (Deduction in respect of contribution to certain pension funds) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80CCB of Income-tax Act 1961-2017 – Deduction in respect of investment made under Equity Linked Savings Scheme

Detail analysis of the provisions of Section 80CCB (Deduction in respect of investment made under Equity Linked Savings Scheme) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80CCA of Income-tax Act 1961-2017 – Deduction in respect of deposits under NSS or payment to a deferred annuity plan

Detail analysis of the provisions of Section 80CCA (Deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80B of Income-tax Act 1961-2017 – Definition of Gross Total Income

Detail analysis of the provisions of Section 80B (Definition of gross total income) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80AC of Income-tax Act 1961-2017 – Deduction not to be allowed unless return furnished

Detail analysis of the provisions of Section 80AC (Deduction not to be allowed unless return furnished) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80AB of Income-tax Act 1961-2017 – Deductions to be made with reference to the income included in the gross total income

Detail analysis of the provisions of Section 80AB (Deductions to be made with reference to the income included in the gross total income) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80A of Income-tax Act 1961-2017 – Deductions to be made in computing total income

Detail analysis of the provisions of Section 80A (Deductions to be made in computing total income) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80 of Income-tax Act 1961-2017 – Submission of return for losses

Detail analysis of the provisions of Section 80 (Submission of return for losses) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 79 of Income-tax Act 1961-2017 – Carry forward and set off of losses in case of certain companies

Detail analysis of the provisions of Section 79 (Carry forward and set off of losses in case of certain companies) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 78 of Income-tax Act 1961-2017 – Carry forward and set off of losses in case of change in constitution of firm or on succession

Detail analysis of the provisions of Section 78 (Carry forward and set off of losses in case of change in constitution of firm or on succession) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 75 of Income-tax Act 1961-2017 – Losses of firms

Detail analysis of the provisions of Section 75 (Losses of firms) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 74A of Income-tax Act 1961-2017 – Losses from certain specified sources falling under the head Income from other sources

Detail analysis of the provisions of Section 74A (Losses from certain specified sources falling under the head "Income from other sources") of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 74 of Income-tax Act 1961-2017 – Losses under the head Capital gains

Detail analysis of the provisions of Section 74 (Losses under the head "Capital gains") of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 73A of Income-tax Act 1961-2017 – Carry forward and set off of losses by specified business

Detail analysis of the provisions of Section 73A (Carry forward and set off of losses by specified business) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 73 of Income-tax Act 1961-2017 – Losses in speculation business

Detail analysis of the provisions of Section 73 (Losses in speculation business) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 72AB of Income-tax Act 1961-2017 – Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks

Detail analysis of the provisions of Section 72AB (Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in business reorganisation of co-operative banks) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 72AA of Income-tax Act 1961-2017 – Carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation of banking company in certain cases

Detail analysis of the provisions of Section 72AA (Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation of banking company in certain cases) of Income-tax Act 1961 as amended by latest

Section 72A of Income-tax Act 1961-2017 – Carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc.

Detail analysis of the provisions of Section 72A (Provisions relating to carry forward and set off of accumulated loss and unabsorbed depreciation allowance in amalgamation or demerger, etc.) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 72 of Income-tax Act 1961-2017 – Carry forward and set off of business losses

Detail analysis of the provisions of Section 72 (Carry forward and set off of business losses) of Income-tax Act 1961 as amended by latest Finance Act 2017.

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