Rent Receipt Generator Online Free

 Free Online Tool for Creating Rental Receipts: A rental receipt is a document that acknowledges the fact that a tenant has paid rent to their landlord. Normally, the payment voucher must have the payment date and its amount, period of tenancy, address of the tenant as well as the signatures of both parties involved – … Read more

Tax Rebate Under Section 87A A.Y.2024-25)

Updates Rebate 87A for AY 2024-25: The alternative tax regime increased the section 87A rebate from Rs. 5 Lakhs to Rs. 7 Lakhs. Under the New Tax Regime (for FY 2023-24/A.Y.2024-25), Rs 7 lakh in income is eligible for a tax rebate under section 87A. (Budget 2023). The rebate amount is Rs. 25,000 or 100% … Read more

Tax Deduction of Preventive Health Check Up

The best way to prevent diseases and complications is to have regular Preventive Health Checkups. Therefore, the purpose of a Preventive Health Checkup is to identify and minimize such risks as early as possible. By detecting potential health issues early, preventive checkups can reduce the financial burden of healthcare by reducing the cost of healthcare … Read more

Deduction 24 From House Property Income

Deduction 24 From House Property Income: You can get tax exemptions on specific investments and expenditures under several sections of the Income Tax Act. The Act constantly stresses the importance of residential property and property as an investment. A lot of investments towards your first home can get lots of income tax deductions (Section 24, … Read more

House Property Income Calculation and Deduction 2024

What is House Property Income Any building or land attached to it that is owned by the assessee is considered to be house property. House properties could be your own home, office, a shop, or even a building that is attached to the building like a parking lot. This could also include the land that … Read more

How to Download LIC Premium Certificate Online? New Procedure

Download LIC Premium Certificate: As the time for filing returns approaches, every taxpayer needs to start accumulating receipts that shall offer them deduction. One of the most common documents in such respect is the LIC Premium Paid Certificate for the whole financial year. Section 80C of the Income Tax Act specifically mentions taxpayers can claim … Read more

Deduction 80GG: Deduction for Rent Paid A.Y. 2024-25

Deduction 80GG – Deduction in respect of Rent Paid: Deduction under section 80GG provides a tax benefit for that assessee who does not receive of house rent allowance (HRA) but lives in a rented house. So, you can get a deduction under section 80GG from your income tax if you are not getting any house rent … Read more

Deduction 80E: Interest on Education Loan Section 80E (A.Y.2024-25)

Deduction 80E – Interest on Education Loan Section 80E: Getting a higher degree can really boost your knowledge and job prospects, but it’s no secret it can be pretty pricey. To help with that, there are some tax rules in place to lighten the load and keep encouraging us to learn more. One of the … Read more

Deduction 80DD: Medical Treatment of Disabled Dependent

Deduction 80DD: Under Section 80DD, individuals or HUFs are permitted to deduct expenses for dependants who are differently abled and who are entirely dependent on them for support and maintenance. A deduction is available to families of disabled persons to support a disabled dependent. The families of disabled dependents can claim deductions under Section 80DD … Read more

Deduction 80D AY 2024-25

Deduction 80D AY 2024-25: Medical expenses of an insured person are covered by a health insurance policy. Each policy can have different coverage, benefits, and limitations. It makes paying medical bills easier and relieves financial burden. Tax deductions can be claimed on the premiums paid towards health insurance by individuals and Hindu Undivided Families (HUFs). … Read more

7 Situations to Avoid Losing Health Insurance 80D Tax Benefits AY 2024-25

7 Situations to Avoid Losing Health Insurance 80D Tax Benefits AY 2024-25: The Income Tax Department of India has maintained a provision of the deduction for taxpayers who invest in health insurance policies.  As per the current scenario, the IT Department allows a deduction of ₹25, 000 for common citizens and ₹50, 000 for senior … Read more

Deduction 80CCD, 80CCD(1), 80CCD(1B), 80CCD(2) of Income Tax Act

Deduction 80CCD – Deduction for NPS (National Pension Scheme) A.Y. 2024-25: The Income Tax Department of India offers a deduction of 80CCD to taxpayers for making contributions towards the National Pension Scheme (NPS) or the Atal Pension Yojana (APY). The deduction is availed under Section 80CCD and is available only to individuals. This section also … Read more

Deduction 80C of Tuition Fee (Updated 2024)

Deduction 80C of Tuition Fee: The government allows income tax deductions for education because education is a vital part of one’s life. Developing countries like India benefit from it by increasing literacy rates. There are lots of tax benefits available for Children’s Education Allowance, Tuition Fee Payment, and School Fee Payment. Taxpayers can deduct up … Read more

Deduction 80C AY 2024-25

Deduction 80C AY 2024-25: There are a number of deductions under Chapter VI-A, namely Sections 80C to 80U, that can be deducted from gross income in order to arrive at net income/taxable income. In this article, we will discuss only section 80C deduction. Investments in certain instruments, such as Life Insurance Premiums, Employee Provident Funds … Read more

Smart Tax Planning: Non-Investment Methods under Section 80C

Every person wants to save on tax. So, some of people try to evade tax, which is wrong on behalf of a responsible citizen of a country. For saving tax the most common and best way is the use of section 80C of the income tax act,1962. Section 80C is the section which provides every … Read more

Deduction 80G: Donations Allowed for Deduction A.Y. 2024-25

Deduction 80G – List of Donations Allow for Deduction under section 80G: The government of India has allowed some of the donations eligible for deduction from your income tax. We will discuss here how you can get the deduction 80G and which donations are eligible for deduction under section 80G. For a common man, Section … Read more