Section 80U of the Income Tax Act, 1961, provides a tax deduction to an individual taxpayer who is himself/ herself suffering from a disability. However, the taxpayer must obtain a certificate as prescribed in the Income Tax Act, 1961. In...

What is Section 80TTB? Section 80TTB of the Income Tax Act, 1961 allows a resident senior citizen to claim a deduction against interest on the deposit. Section 80TTB is popular for claiming deduction against interest income on a fixed deposit...

What is Section 80TTA of Income Tax Act? Section 80TTA of the Income Tax Act provides a deduction for interest income. The deduction is available with a few limitations and restrictions. In this article, we have covered all about claiming...

What is Section 80RRB? Section 80RRB is a tax deduction which a taxpayer can claim while filing their income tax returns against payments received as royalty. Royalty payments are a source of income for many citizens. A royalty is an...

What is Section 80GGC? Section 80GGC provides for a tax deduction on any sum contributed in the previous year by any individual to a political party or an electoral trust. However, no deduction is applicable if the individual makes a...

Section 80GGB of the Income Tax Act of 1961 provides for tax exemption in order to encourage more contributions to political parties. This section is primarily concerned with contributions and donations made by Indian corporations to political parties or electoral...

Section 80GG of Income Tax Act Section 80GG of the Income Tax Act under Chapter VIA provides a tax deduction to self-employed individuals and salaried employees for the rent paid. Here, the motive is to provide a tax benefit to...

What is Section 80G? The Income Tax Act allows deduction while calculating the total taxable income to every assessee. One such deduction is allowed under section 80G of Income Tax Act, 1961 for donations made to a charitable organization or...