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deduction Archives - All About Finance https://taxclick.org/tag/deduction/ Fri, 29 Jul 2016 11:18:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://taxclick.org/wp-content/uploads/2021/11/favicon.png deduction Archives - All About Finance https://taxclick.org/tag/deduction/ 32 32 Deduction of interest on saving account under section 80TTA of Income Tax Act https://taxclick.org/type/income-tax/deduction-of-interest-on-saving-account-under-section-80tta-of-income-tax-act/?utm_source=rss&utm_medium=rss&utm_campaign=deduction-of-interest-on-saving-account-under-section-80tta-of-income-tax-act https://taxclick.org/type/income-tax/deduction-of-interest-on-saving-account-under-section-80tta-of-income-tax-act/#comments Wed, 11 Mar 2015 18:30:00 +0000 Deduction of interest on saving account under section 80TTA          What is deduction under section 80TTA of Income Tax Act: Section 80TTA has been inserted with effect from the assessment year 2013-14. It provides deduction up to Rs. 10,000 in aggregate to an assessee in respect of any income by way of ... Read more

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Deduction in respect of Health Insurance Premium – Sec 80D of Income Tax Act https://taxclick.org/type/students/deduction-in-respect-of-health-insurance-premium-sec-80d-of-income-tax-act/?utm_source=rss&utm_medium=rss&utm_campaign=deduction-in-respect-of-health-insurance-premium-sec-80d-of-income-tax-act https://taxclick.org/type/students/deduction-in-respect-of-health-insurance-premium-sec-80d-of-income-tax-act/#comments Tue, 11 Feb 2014 18:30:00 +0000 Under Section 80D of the Income Tax Act, deduction in respect payment made towards Health Insurance Premium and Preventive health check-up is allowable as deduction from total income. Who can claim the deduction & for what? – Individual or HUF can claim deduction under this section in respect of payment made by them towards:- 1.     ... Read more

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Taxability of Leave Travel Assistance under Section 10 (5) of Income Tax Act https://taxclick.org/type/students/taxability-of-leave-travel-assistance-under-section-10-5-of-income-tax-act/?utm_source=rss&utm_medium=rss&utm_campaign=taxability-of-leave-travel-assistance-under-section-10-5-of-income-tax-act https://taxclick.org/type/students/taxability-of-leave-travel-assistance-under-section-10-5-of-income-tax-act/#comments Wed, 22 Jan 2014 18:30:00 +0000 One of my student, we lovingly calls him Mr. Doubtful, has always doubts even in simple provisions. The main reason was that he was in too hurry to read and understand the whole provision. While learning the Taxability of Leave Travel Assistance in the Income from Salary chapter he asked very wonderful questions!!! 1)      Sir, ... Read more

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Nature of payment for deduction under section 80C of Income Tax Act https://taxclick.org/type/income-tax/nature-of-payment-for-deduction-under-section-80c-of-income-tax-act/?utm_source=rss&utm_medium=rss&utm_campaign=nature-of-payment-for-deduction-under-section-80c-of-income-tax-act https://taxclick.org/type/income-tax/nature-of-payment-for-deduction-under-section-80c-of-income-tax-act/#respond Fri, 10 Jan 2014 18:30:00 +0000 Meaning Individual or Hindu undivided family can claim deduction under section 80C. The qualifying amount under section 80C of income tax act is deductable form gross total income. Deduction is available on the basis of qualifying investment, contribution or payment made by taxpayer during financial year.  Maximum amount deductable  Maximum amount deductable under section 80C ... Read more

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