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Category Archives for "Income Tax Deductions"

Section 80G FY 2018-19 AY 2019-20

Section 80G Donation limit  FY 2018-19 AY 2019-20 Tax benefit under section 80G: If you are a socialist and often contribute for betterment of the community,Country,Temple Gurudwaras’Church and Mosque. Then you can definitely take huge income tax benefit under section 80G of income tax act. There are four categories under which tax payers can tax donation […]

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Section 80U For Physically mentally Disabled Persons 2018-19

Section 80U : Income Tax Benefit For Physically And mentally Disabled Persons One can take income tax benefit under section 80U if he/or she is either physically or mentally disabled. But he/she should be himself/herself disabled. Percentage of Disability : Taxpayer must have minimum 40% disability.And he/she must have disability certificate from a chief medical officer […]

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National Pension Scheme Contribution Section 80CCD

Section 80CCD:Benefits Of National Pension Scheme Contribution Section 80CCD deals with those emoyees or taxpayers who are subscribers in NPS(New Pension Scheme). 80CCD section is splitted into three sections: Section 80CCD(1),80CCD(2) And  80CCD(1b). Section 80CCD(1):  All the employees who had joined service on or after 1st april 2004 come strictly under NPS in general and […]

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Income Tax Rebate US 87A

Section 87A Tax Rebate for FY 2017-18 & AY 2018-19 Income Tax Rebate US 87A is provided by IT department.Income tax department  has reduced the rebate amount In the current fy 2017-18. Further it is worth noting that you can claim tax rebate only if you satisfy the following conditions: your net income(Gross salary-Deductions u/s […]

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