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SECTION 80GG
Paying rent but not receiving HRA? Here’s how non-salaried individuals can claim tax deductionSelf-employed individuals and salaried employees not receiving House Rent Allowance (HRA) can claim tax benefits for rent paid under Sectio...- Latest HRA tax exemption rules: Step-by-step guide on how to save income tax on house rent allowance under old income tax regimeHRA tax exemption rules: The HRA tax exemption reduces the total salary before calculating taxable income, helping employees save on taxes....
- HRA Exemption Rules: How to save income tax on house rent allowance under old tax regimeHouse rent allowance (HRA) tax benefit is available only to salaried individuals who are planning to opt for old tax regime. Further, this ...
- Claiming deductions under sections 80C to 80U under old tax regime while filing ITRDo keep in mind that those individuals who are planning to opt for a new, concessional tax regime will not be able to claim the common dedu...
- Want to reduce your taxable income to Rs 5 lakh? Here's a list of all deductions you can claimIf your gross total income is in the range of Rs 6-11 lakh, you could try and claim tax deductions to reduce it to Rs 5 lakh. These deducti...
- How to claim deductions under section 80C to 80U while filing ITR-1To reduce your gross total income and thereby your income tax liability, you have to enter details of deductions that you want to claim und...
- What will be your tax liability if you sell shares traded in the US stock market?When the shares are allotted to an employee, it is taxed as a prerequisite. When the shares are sold by the employee, it is taxed as capita...
- Not eligible for HRA? Here's how you can claim tax deduction on rent paidSection 80GG of the Income Tax Act allows claiming of tax deduction for the house rent paid for a self-employed or salaried person who has ...
- Here is how you can save on taxes: TP Ostwal"All the deductions are given on the basis of savings and therefore saving oriented deductions are available."
- Tax Optimiser: How consultant Pramod K. can save tax on rent without HRATaxspanner estimates that Pramod K.'s tax can be cut to less than Rs 80,000 if he claims house rent exemption, if his company offers the NP...
- Will Budget 2018 bring tax relief on rent for self employed on par with HRA exemption?Section 80GG allows self-employed paying rent for the house to lower their tax outgo. However, in comparison to the HRA exemption tax benef...
- Tax queries: Use ITR-2 to show salary and capital gains incomeDilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
- Frequently asked questions on tax savingSection 80E of the I-T Act allows an individual to claim the entire interest paid on an education loan as a deduction from gross total inco...
- Tax Queries by Dilip Lakhani, Senior Chartered AccountantQueries: Stocks to et.stocks@timesgroup.com; Mutual Funds to et.mfs@timesgroup.com Tax to et.tax@timesgroup.com Insurance to et.insurance@t...
- Submit proof of travel for claiming tax deduction on LTA: CBDTThe details to be furnished include name, address and PAN of landlord where the aggregate rent paid exceeds Rs 1 lakh, according to a CBDT ...
- Budget 2016: Tax rebate on rent for non-HRA workersFocusing on education and job creation through skill development, Jaitley spoke of the importance of quality education.
- Budget 2016: Housing sops for the poorThis budget has introduced two new initiatives for the poor home buyers. First, additional deduction of Rs 50,000 is allowed u/s 24 (D) for...
- Budget 2016: FM Jaitley raises maximum deduction under 80GG to Rs 60,000In Budget 2016, the Finance Minister has raised the maximum deduction available under section 80GG to Rs 60,000 per annnum from existing Rs...
- Tax planning does not end with Section 80CIt's that time of the year again when one needs to begin calculating their tax liabilities. However before you do so, remember to analyze t...
- Query Corner: TaxationOur expert (Vaibhav Sankla, Executive Director, Adroit) guides you in matters relating to taxation. Email to etquerytax@indiatimes.com
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