Blog
Section 80 E

Section 80 E

Any individual who has applied for a loan for higher education can avail of the benefits of tax savings provided by Section 80E of the Income Tax Act, 1961. Even if an individual has availed the maximum available deduction of INR. 1,50,000 under section 80C, they can...

Donating Money? Tax benefit under section 80G.

Donating Money? Tax benefit under section 80G.

The amount of donation which can be claimed as a deduction under section 80G is determined as per certain rules. You can claim either 100% or 50% of the amount donated as a deduction subject to ‘With’ or ‘Without’ the upper limit.How much of the amount donated can be...

Section 80U

Section 80U

Section 80U of the Income Tax Act, 1961 includes provisions for tax deduction benefit to individual taxpayers suffering from a disability. In order to claim tax deduction under section 80U, the individual must be certified as a person with a disability by appropriate...

Deduction available under Section 80D

Deduction available under Section 80D

Individual: An individual can claim a deduction of up to Rs 25,000 for the insurance of self, spouse, and dependent children. An additional deduction for the insurance of parents is available to the extent of Rs 25,000 if they are less than 60 years of age, or Rs...

Tax Treatments of Investment National Pension Scheme

Tax Treatments of Investment National Pension Scheme

Earlier the tax deductions allowed for the NPS investments was only limited to Rs. 1 lakh. However, the same was amended in the budget of 2015 to encourage more people to invest in pension schemes. Amendments in the sections pertaining to NPS were announced in Budget...

HRA Exemption

HRA Exemption

For most employees, House Rent Allowance (HRA) is a part of their salary structure. Although it is a part of your salary, HRA, unlike a basic salary, is not fully taxable. Subject to certain conditions, a part of HRA is exempted under Section 10 (13A) of the...

Section 87A : Tax Rebate under Section 87A

Section 87A : Tax Rebate under Section 87A

In the year 2013-14 the government of India introduced rebate u/s 87A. This rebate provides benefits from your taxes payable. This benefit can be claimed when your taxable income does not exceed prescribed limits for the relevant financial year. For the FY 2019-20 if...

All About Payroll & Payroll Software

All About Payroll & Payroll Software

What is Payroll Software? Payroll software facilitates payroll processing, reducing the burden for your company of this practice. This secure electronic system is used by organizations to access and update employee information, custom reports and more. This means that...

Budget 2020 Explained For Salaried Employees

Budget 2020 Explained For Salaried Employees

How does this new budget impacts salaried individuals? In the midst of an economy going through the worst of the decade, Finance Minister Nirmala Sitharaman on Saturday presented the General Budget, which has introduced a new system of reduction in income tax rates....

Pin It on Pinterest

Request Demo