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Category Archives for "Budget 2019-20"

Section 80CCD(1B)

Section 80CCD(1B)

Additional Income Tax Deduction U/S Section 80CCD(1B) FY 2019-20 Tax payers who comes under NPS,can get additional income tax deduction of rs. 50,000 under section 80CCD(1B). If you are a govt. Employee and an NPS subscriber,then 10% of your basic pay and DA goes directly to national pension scheme account in terms of PRAN no. […]

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Income Tax Benefit Under NPS

Income Tax Benefit Under NPS (Sections 80CCD(1),80CCD(2),80CCD(1B) 2019-20 In order to take income tax benefit under NPS,you must have knowledge about sections 80CCD(1),80CCD(2),80CCD(1B). As per new pension scheme (NPS) 2019,you can take income tax benefit under NPS as deduction of rs up to 2 lakhs under sections 80CCD(1),80CCD(2),80CCD(1B). Section 80CCD(1) Firstly,let us understand section 80CCD(1). According […]

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Tax Benefit On Personal Loan

Personal loan fy 2019-20

Take Huge Tax Benefit On Personal Loan FY 2019-20 According to Income tax act,you can take huge tax benefit on personal loan for fy 2019-20. The condition is that the personal loan you have taken,must be used for the following purposes: For the purpose of construction of a residential building,house. For business For purchase of […]

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Income Tax Rebate U/s 87A

Income Tax Rebate Under Section 87A

Income Tax Rebate Under Section 87A Of Income Tax Act FY 2019-20 Rebate under section 87A: There is a change in income tax rebate under section 87A of income tax act for fy 2019-20. If your total income (Gross income – saving) is 5 lakhs. You can get income tax rebate of rs. 12,500 under section […]

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