Category Archives: Income Tax

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

File Income Tax Returns by 5th August | ITR e-filing Last Date

IT Return- Last Date

Last date to file IT returns extended to 05-08-2017 due to problem in linking PAN and Aadhaar while e-filing ITR at IncomeTaxIndiaeFiling.gov.in

Income Tax Due Dates August 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.

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.

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 80HHC of Income-tax Act 1961-2017 – Deduction in respect of profits retained for export business

Detail analysis of the provisions of Section 80HHC (Deduction in respect of profits retained for export business) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80HHBA of Income-tax Act 1961-2017 – Deduction in respect of profits and gains from housing projects in certain cases

Detail analysis of the provisions of Section 80HHBA (Deduction in respect of profits and gains from housing projects in certain cases) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80HHB of Income-tax Act 1961-2017 – Deduction in respect of profits and gains from projects outside India

Detail analysis of the provisions of Section 80HHB (Deduction in respect of profits and gains from projects outside India) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80HHA of Income-tax Act 1961-2017 – Deduction for newly established small-scale industrial undertakings

Detail analysis of the provisions of Section 80HHA (Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80HH of Income-tax Act 1961-2017 – Deduction for newly established industrial undertakings or hotel business in backward areas

Detail analysis of the provisions of Section 80HH (Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80GGC of Income-tax Act 1961-2017 – Deduction in respect of contributions given by any person to political parties

Detail analysis of the provisions of Section 80GGC (Deduction in respect of contributions given by any person to political parties) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80GGB of Income-tax Act 1961-2017 – Deduction in respect of contributions given by companies to political parties

Detail analysis of the provisions of Section 80GGB (Deduction in respect of contributions given by companies to political parties) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80GGA of Income-tax Act 1961-2017 – Deduction in respect of certain donations for scientific research or rural development

Detail analysis of the provisions of Section 80GGA (Deduction in respect of certain donations for scientific research or rural development) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80GG of Income-tax Act 1961-2017 – Deductions in respect of rents paid

Detail analysis of the provisions of Section 80GG (Deductions in respect of rents paid) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80G of Income-tax Act 1961-2017 – Deduction in respect of donations to certain funds, charitable institutions, etc.

Detail analysis of the provisions of Section 80G (Deduction in respect of donations to certain funds, charitable institutions, etc.) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80EE of Income-tax Act 1961-2017 – Deduction in respect of interest on loan taken for residential house property

Detail analysis of the provisions of Section 80EE (Deduction in respect of interest on loan taken for residential house property) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80E of Income-tax Act 1961-2017 – Deduction in respect of interest on loan taken for higher education

Detail analysis of the provisions of Section 80E (Deduction in respect of interest on loan taken for higher education) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80DDB of Income-tax Act 1961-2017 – Deduction in respect of medical treatment, etc.

Detail analysis of the provisions of Section 80DDB (Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80DD of Income-tax Act 1961-2017 – Deduction for medical treatment of dependant who is a person with disability

Detail analysis of the provisions of Section 80DD (Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80D of Income-tax Act 1961-2017 – Deduction in respect of health insurance premia

Detail analysis of the provisions of Section 80D (Deduction in respect of health insurance premia) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80CCG of Income-tax Act 1961-2017 – Deduction in respect of investment made under an equity savings scheme

Detail analysis of the provisions of Section 80CCG (Deduction in respect of investment made under an equity savings scheme) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80CCF of Income-tax Act 1961-2017 – Deduction in respect of subscription to long-term infrastructure bonds

Detail analysis of the provisions of Section 80CCF (Deduction in respect of subscription to long-term infrastructure bonds) of Income-tax Act 1961 as amended by latest Finance Act 2017.

Section 80CCE of Income-tax Act 1961-2017 – Limit on deductions under sections 80C, 80CCC and 80CCD

Detail analysis of the provisions of Section 80CCE (Limit on deductions under sections 80C, 80CCC and 80CCD) of Income-tax Act 1961 as amended by latest Finance Act 2017.

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