Section 80C: Deduction for investment in certain specified instruments, such as Life Insurance Premium, Public Provident Fund (PPF), National
SPECIAL PROVISIONS IN RESPECT OF NEWELY ESTABLISHED UNITS IN SPECIAL ECONOMIC ZONE [SEC.10AA]
Section 10AA of the Income Tax Act, 1961 provides special provisions in respect of newly
AMOUNT OF DEDUCTION- SPECIAL PROVISION
The amount of deduction that can be claimed under special provisions of the Income Tax
PERIOD OF DEDUCTIONS
The period of deductions under income tax in India is generally the financial year (FY)
AMOUNT OF DEDUCTION – GENERAL PROVISIONS
The amount of deduction under general provisions under Income Tax Act, 1961 depends on the
SHOULD BE FORMED BY SPLITTING RECONSTRUCTION OF BUSINESS
Under the Indian Income Tax Act, 1961, a new business is not eligible to claim
EXCEMPTIONS AND DEDUCTIONS
Exceptions under income tax are certain types of income that are completely exempt from taxation.
LOSS ARISING IN CASE OF BONUS STRIPPING [SEC.94(8)]
The Income Tax Act, 1961 allows for the set-off and carry forward of losses incurred
CARRY FORWARD AND SET OFF LOSS FROM HOUSE PROPERTY
Shiv Kumar Jatia v. ITO (2021) Issue: Whether loss from sale of long-term capital share
CARRY FORWARD AND SET – OFF OF CAPITAL LOSS (SEC .74)
Carry forward and set-off of capital loss under Section 74 of the Income Tax Act,