Section 80D: Medical/ Health Insurance Premium (Mediclaim Deduction)
Section 80D of the Income Tax Act of 1961 provides for a deduction to Individuals and HUFs in respect of payment of medical or health insurance premium for family, …
Tag: Deductions
Section 80TTB: Deduction for Interest on Deposits (Senior Citizens)
Section 80TTB has been inserted by the Finance Act, 2018 to provide for a higher deduction of upto Rs 50,000 in respect of interest income, in the case of …
Section 80TTA: Deduction for Interest on Savings Deposits
Section 80TTA of Income Tax Act, 1961 provides for a deduction of upto Rs 10,000 from the interest income earned from savings deposits with a Bank or Post Office, …
CBDT Clarification on 80IB/ 80IC Deduction (Transport, Power and Interest subsidies)
The CBDT has clarified about the eligibility for deduction u/s 80-IB/ 80-IC in respect of revenue receipts (i.e. Transport, Power and Interest subsidies) of an Industrial Undertaking/ eligible business, …