Tax Articles

The income tax act allows a tax deduction or a tax benefit against the interest on a residential home loan. The deduction is allowed under section 80EE up to rs 50000 in a financial year. The tax benefit is available...

With the increasing need and demand for higher education among the student there lies a huge cost of such higher education. Usually, an education loan is taken by the student and repaid after completing the education. Once a student land...

Section 80DDB of the Income Tax Act, 1961 has gained its popularity in recent years. You can claim a tax deduction against the expenses made for the medical treatment of self and dependents suffering from specified diseases. What is Deduction...

Section 80DD of the Income Tax Act, 1961 provides for a tax deduction to an assessee or a taxpayer. Such a tax deduction is against any sum the taxpayer incurs for the medical treatment of a person suffering from a...

In order to take care of one’s medical emergencies, medical insurance is considered as the safest investment option. This allows the taxpayer to avail of the benefits on two front. One being taken care of by the insurance policy in...

Section 80CCD of the Income Tax Act, 1961 provides for a tax deduction against a contribution made towards the National Pension Scheme and the Atal Pension Yojana. Section 80CCD provides for a tax deduction to the individual taxpayer on fulfillment...

What is Section 80CCC? Section 80CCC of the Income Tax Act, 1961 provides for a income tax deduction against the payment made to obtain a new pension policy or renew an existing pension policy. A taxpayer can claim a deduction...

What is Section 80C of Income Tax Act? Section 80C of the Income Tax Act provides tax deduction up to Rs1.5 lakhs to individuals and HUF. The tax deductions provide a means for individuals to reduce their gross total income...