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Donate under section 80G- Save Taxes and help Society
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Section 80G provides a tax deduction for donations to certain funds and charitable institutions. Deduction under section 80G is available...
Invest in tax saving tools of 80C – LIC, PPF, PF, Housing loan Principal and others
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Section 80C provides deduction in respect of specified qualifying amount paid or deposited by the assessee in the previous year. Main pro...
Insurance premium on health of employees – 36 (1) (ib)
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Under section 36 (1) (ib) a deduction can be claimed by a taxpayer if the following conditions are satisfied: • The taxpayer pays premi...
Tax benefits in respect of contribution to Pension Fund of LIC or other insurer – 80CCC
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Section 80CCC provides a deduction to an individual for any amount paid or deposited by him in any annuity plan of the Life Insurance Cor...
Deduction in respect of rent paid – 80GG
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 26, 2011
Deduction under Sec. 80GG is available for persons who pay rent for their accommodation. In computing total income, an assessee is allowe...
Tax benefits for Treatment of Specified diseases – Section 80DDB
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 25, 2011
Costs incurred for treatment of specified illnesses, could fetch you a tax benefit under section 80DDB. Conditions to be satisfied for av...
Deduction in respect of repayment of loan taken for higher education
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 25, 2011
Section 80E provides you tax benefits on education loans taken to support higher studies and these benefits help you to reduce the overal...
Section 80DD- Medical Treatment of Handicapped Dependents
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 25, 2011
Deduction u/s 80DD can be claimed if you are incurring expenditure for maintenance including medical treatment of a handicapped dependent...
Opt for medical insurance and save taxes on premium paid -80D
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 25, 2011
Investments made towards payment of health insurance premiums, qualify for a tax deduction under section 80D. Conditions to be satisfied ...
Invest in Infra-structure Bonds – 80CCF – Save Taxes
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 25, 2011
Deduction in respect of subscription to long term infrastructure bonds under Section 80CCF is applicable for the assessment year 2011-12 ...
Valuation of medical facilities – either provided or reimbursement by the employer
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 24, 2011
The following shall not be treated as perquisite – • Medical facility provided in a hospital, clinic, dispensary or nursing home ...
Tax on Perquisite paid by employer
Direct Taxes (including International Taxation) | By ALOK PATNIA | Apr 24, 2011
If tax is paid by an employer on behalf of an employee, the same (being in nature of an obligation which, but for such payment, would hav...
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