Under the Income Tax Act, 1961, Section 80CCA provides a deduction for deposits made in
OTHER POINTS REGARDING COMPUTATION OF GROSS QUALIYFING AMOUNT
Adjusted gross total income: The adjusted gross total income (AGTI) is used to compute the gross
COMPUTATION OF DEDUCTION UNDER SECTION 80C
Section 80C of the Income Tax Act, 1961 allows individuals and Hindu Undivided Families (HUFs)
SAILENT FEATURE OF SECTION 80C
The salient features of section 80C under the Income Tax Act, 1961 are as follows:
DEDUCTIONS FROM TOTAL INCOME [ SECS.80Cto80U]
Deductions from total income under sections 80C to 80U of the Income Tax Act of
SPECIAL PROVISIONS IN RESPECT OF NEWELY ESTABLISHED HUNDRED PER CENT EXPORT – ORIENTED UNNDERTAKINGS [ SEC.10B]
Section 10B of the Income Tax Act, 1961 (the Act) provides special provisions for newly
CLARIFICATION FROM BOARD
A clarification of board under Income Tax is an official statement issued by the Central
CONSEQUENCES OF CLAIMING DEDUCTION UNDER SECTION 10AA
Claiming deductions under Section 10AA of the Income Tax Act, 1961 (IT Act) provides significant
CONSEQUENCES FOR MERGER AND DEMERGER
Merger: The merged entity is considered to be the successor of all the merging
DEDUCTIONS FOR ELEVENTH ASSESMENT YEAR TO FIFTEENTH ASSESMENT YEAR
Section 80C Life insurance premiums paid for self, spouse, and dependent children (up to RS.. 25,000) Life insurance