A proof of payment is a document or record that verifies that a payment has
AMOUNT OF DEDUCTION
The term “amount of deduction” can refer to different things depending on the context. Here
Deduction in respect of medical insurance premia (sec80D)
Section 80D of the Income Tax Act, 1961, allows taxpayers to claim a deduction for
Deduction in respect of subscription to long term infrastructure bonds(section80CCF)
Deduction in respect of subscription to long term infrastructure bonds (Section 80CCF) is a tax
Deduction in respect of contribution to national pension system(NPS)- section 80CCD
Who is eligible for the deduction under Section 80CCD? Any individual who is a subscriber
Further deduction on accrued interest in respect of investments in national savings certificates
Further deduction on accrued interest in respect of investments in national savings certificates (NSCs) is
Amount of deduction (section 80 C)
The maximum amount of deduction under Section 80C is Rs. 1.5 lakh per year. This
Amount of deduction -general provision
The amount of deduction for a general provision is the amount that is reasonably estimated
Deduction should be claimed in the return of income
Deductions should be claimed in the income tax return to reduce your taxable income and
Audit
An audit is a systematic and independent examination of financial information of any entity, whether