Deductions under Section 80C & its allied sections

Deduction under Section 80C & its allied sections

Section 80C and its allied sections allow a maximum deduction of up to Rs. 1.5 lacs every year from the taxpayer’s total income and an additional deduction amount of Rs. 50,000 can be claimed under Section 80CCD(1b).

Section 80U Deduction in case of Disability

Section 80U: Deduction in case of disability

Section 80U is a deduction meant for the disabled person. This section provides a flat deduction on the gross total income of the individual on the basis of severity of disability of the disabled person. Further, this deduction is not dependent on the amount of the expenditure.

Do I need to file Income Tax Return?

Do I need to File Income Tax Returns?

Filing of Income Tax Return is not just a statutory compliance for the taxpayers but it also a way of informing the Government about the total income that the taxpayer has earned during a relevant financial year and that he has paid the tax on that income.